Benzinga | Apr 22, 2021 08:13AM EDT

Recap: East West Bancorp Q1 Earnings



Shares of East West Bancorp (NASDAQ:EWBC) remained unaffected after the company reported Q1 results.

Quarterly Results

Earnings per share rose 44.00% year over year to $1.44, which beat the estimate of $1.24.

Revenue of $353,695,000 declined by 2.48% year over year, which missed the estimate of $354,110,000.

Looking Ahead

East West Bancorp hasn't issued any earnings guidance for the time being.

East West Bancorp hasn't issued any revenue guidance for the time being.

Details Of The Call

Date: Apr 22, 2021

Time: 11:30 AM

ET Webcast URL: https://78449.choruscall.com/dataconf/productusers/ewbc/mediaframe/44290/indexr.html

Recent Stock Performance

Company's 52-week high was at $82.53

52-week low: $26.63

Price action over last quarter: Up 23.54%

Company Overview

East West Bancorp Inc is the holding company for East West Bank, a full-service commercial bank with cross-border operations concentrated in the United States and China. East-West Bank is one of a few U.S. based banks with a full banking license in China. The bank's cost strategy has increasingly focused on expanding its deposit base away from time deposits to commercial deposits. The bank has also taken part in entertainment partnerships between participants in China and Hollywood. Most of these efforts include financing the production and distribution of film and television projects. The bank leverages its cultural and regulatory knowledge in the U.S. and China to assist its customers in entering new markets. Most of its earning assets are in loans held for investment.