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East West Bancorp (EWBC)
NASDAQ:EWBC
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Earnings Data
Report Date
Jan 23, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$2.1Last Year’s EPS
$1.69Same Quarter Last Year
Strong Buy
Based on 13 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 22, 2024
|% Change Since: 6.72%
|Next Earnings Date:Jan 23, 2025
Earnings Call Sentiment|Positive
The earnings call reflected a strong financial performance with growth in net income, deposits, loans, and record fee income, despite the slight decline in net interest margin and increase in credit loss provisions. Asset quality remains strong, contributing to a positive outlook.Company Guidance
During the East West Bancorp Q3 2024 earnings call, the management provided detailed guidance including several key metrics. The company reported a net income of $299 million, translating to $2.14 per diluted share. Average loans grew by 1% quarter-over-quarter, with a focus on residential mortgage and C&I lending. Deposits increased by 3% to a record $61.7 billion, with noninterest-bearing deposits accounting for 24% of the total. Net interest income rose by $20 million, marking a 4% increase from the previous quarter, while the net interest margin slightly declined to 3.24%. Fee income reached a record $81 million, driven by strong syndication activity and commercial cash management solutions. On the credit side, the allowance for credit losses stood at $696 million, representing 1.31% of total loans. The company maintained a robust capital position, with a common equity Tier 1 capital ratio of 14.1% and a tangible common equity ratio of 9.7%. Looking ahead, East West reiterated its full-year guidance, expecting loan growth between 2% to 4% and net interest income to decline by the same range, given the current interest rate environment.Strong Net Income Growth
Third quarter 2024 net income was $299 million or $2.14 per diluted share, reflecting a strong performance.
Deposit and Loan Growth
Average loans grew by 1% and deposits by 3% quarter-over-quarter, reaching a record $61.7 billion.
Increased Net Interest Income
Net interest income grew by $20 million or 4% from the second quarter, driven by loans.
Record Fee Income
Achieved a record fee income level of $81 million this quarter, up 6% quarter-over-quarter.
Improved Asset Quality
Nonperforming assets fell by 1 basis point to 26 basis points of total assets quarter-over-quarter.
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EWBC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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EWBC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 22, 2024 | $89.87 | $95.09 | +5.81% |
| Jul 23, 2024 | $82.71 | $83.38 | +0.81% |
| Apr 23, 2024 | $73.02 | $73.84 | +1.12% |
| Jan 23, 2024 | $71.70 | $73.70 | +2.79% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does East West Bancorp (EWBC) report earnings?
East West Bancorp (EWBC) is schdueled to report earning on Jan 23, 2025, TBA Not Confirmed.
What is East West Bancorp (EWBC) earnings time?
East West Bancorp (EWBC) earnings time is at Jan 23, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is EWBC EPS forecast?
EWBC EPS forecast for the fiscal quarter 2024 (Q4) is $2.1.
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