Cross-border banking company East West Bancorp (NASDAQ: EWBC) will be announcing earnings results this Tuesday after the bell. Here’s what to expect.
East West Bank beat analysts’ revenue expectations last quarter, reporting revenues of $773.7 million, up 11.8% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ net interest income estimates.
Is East West Bank a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting East West Bank’s revenue to grow 11.7% year on year, improving from the 10.1% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. East West Bank has a history of exceeding Wall Street’s expectations.
Looking at East West Bank’s peers in the regional banks segment, some have already reported their Q2 results, giving us a hint as to what we can expect. M&T Bank delivered year-on-year revenue growth of 5.5%, beating analysts’ expectations by 2.5%, and Commerce Bancshares reported revenues up 11.9%, topping estimates by 1.8%. M&T Bank traded up 5% following the results while Commerce Bancshares was also up 1.7%.
Read our full analysis of M&T Bank’s results here and Commerce Bancshares’s results here.
There has been positive sentiment among investors in the regional banks segment, with share prices up 6.3% on average over the last month. East West Bank is up 4.2% during the same time and is heading into earnings with an average analyst price target of $144.13 (compared to the current share price of $134.51).
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