FONT-SIZE Plus   Neg

East West Bancorp Q1 Profit Rises; Lifts FY12 EPS View - Quick Facts

East West Bancorp Inc. (EWBC) reported first-quarter net income available to common stockholders of $66.37 million or $0.45 per share, up from $54.36 million or $0.37 per share in the same quarter of last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.43 per share for the quarter. Analysts' estimates typically exclude special items.

Earnings per share for the first quarter of 2012 was 22% higher than the prior year. This increase in earnings is reflective of healthy, profitable and prudent growth in our loan and deposit portfolios, which has resulted in a strong net interest margin of 4.21% and a reduced cost of deposits down to 0.47%.

Net interest income for the quarter rose to $218.92 million from $208.83 million in the prior year quarter. Non-interest income was $21.74 million, up from $11.04 million in year ago quarter.

The company expects earnings per share for the second quarter of 2012 to be in the range of $0.43 to $0.45 per share. Analysts expect the company to report earnings of $0.45 per share for the second-quarter.

The company currently estimates that earnings per share for the full year of 2012 will range from $1.78 to $1.82, or an increase of 11% to 14% from 2011. Also, this updated guidance for the full year 2012 is an increase of $0.04 per share from its previous guidance. Analysts expect the company to report earnings of $1.83 per share for fiscal 2012.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Ferrari, the luxury car division of Fiat Chrysler Automobiles (FCAU) is reportedly getting a much higher valuation than previously expected driven by its premium status of manufacturing high-performance luxury cars. According to reports, Ferrari expects the IPO to bring its market valuation to about... SeaWorld Entertainment Inc. (SEAS) has received another blow to its business as the California Coastal Commission banned breeding of captive killer whales in San Diego. The new law means SeaWorld won't be allowed to breed captive orcas, including through artificial insemination, at its California... Large U.S. companies are holding trillions of dollars overseas in an effort to avoid U.S. taxes, with big-name firms like Apple (AAPL), Pfizer (PFE) and PepsiCo (PEP) named as notable examples. This is the claim made by a pair of non-profit groups, who released a study based on the firms' financial statements.
comments powered by Disqus
Trade EWBC now with 
Follow RTT