East West Bancorp Reports Weaker Q4 Earnings, Stock Falls 4.2%
East West Bancorp Reports Weaker Q4 Earnings, Stock Falls 4.2%

East West Bancorp Reports Weaker Q4 Earnings, Stock Falls 4.2%

News summary

East West Bancorp reported its fourth-quarter and full-year 2024 financial results, revealing adjusted earnings per share (EPS) of $2.08, which was below the Zacks Consensus Estimate of $2.17. Despite a 4% increase compared to the previous year’s quarter, the earnings miss led to a 4.2% drop in after-market trading. The bank's net income for 2024 reached $1.17 billion, slightly above the previous year's figure, with total revenues of $675.8 million for the quarter, surpassing estimates. However, the net interest margin declined to 3.24%, and increased provisions for credit losses posed challenges. The company announced an increased quarterly dividend and a $300 million stock repurchase program, highlighting its commitment to capital strength and shareholder returns. Looking ahead, management remains optimistic about sustaining growth despite recent setbacks from the earnings report.

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Last Updated
188 days ago
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