East-West Bancorp (EWBC) Misses Q1 EPS by 6c

East-West Bancorp (NASDAQ: EWBC) reported Q1 EPS of $1.16, $0.06 worse than the analyst estimate of $1.22.

“We started off the year with solid balance sheet growth. Our total assets reached a record $42.1 billion. Total loans grew $478 million, or 6% annualized, to a record $32.9 billion from $32.4 billion as of December 31, 2018,” stated Dominic Ng, Chairman and Chief Executive Officer of East West. “Total deposits grew $834 million, or 10% annualized, to a record $36.3 billion from $35.4 billion at the end of 2018.”

“Our first quarter 2019 net interest margin, excluding the impact of accretion, was 3.77%1, a quarter-over-quarter increase of four basis points from 3.73%, and a year-over-year increase of 10 basis points from 3.67%,” continued Ng.

“Our balance sheet growth, the profitability of our business, and our capital levels are strong. As of March 31, 2019, our tangible equity to tangible assets ratio2 was 9.9%, an increase of 16 basis points quarter-over-quarter. I am pleased to announce that East West’s Board of Directors approved a 20% increase to the quarterly common stock dividend. Our quarterly dividend will increase to $0.275 per share, up from $0.23 per share. We are optimistic about the year ahead, and look forward to delivering another year of strong returns for our shareholders,” concluded Ng.

For earnings history and earnings-related data on East-West Bancorp (EWBC) click here.

You May Also Be Interested In

• Are we witnessing a fundamental or speculative rally in the S&P 500?
• Five Below (FIVE) Tops Q1 EPS by 53c, Beats on Revenue; Offers FY27 Guidance
• Amtech Systems closes $60 million public stock offering