Overview

* East West Bancorp ( EWBC ) Q3 revenue beats analyst expectations, driven by deposit-led growth

* Company reports record Q3 net income of $368 mln and EPS of $2.65

* East West increased allowance for loan losses amid economic uncertainty

Result Drivers

* DEPOSIT-LED GROWTH - Record net interest income driven by growth in deposits, according to CEO Dominic Ng

* HIGHER FEE INCOME - Increased fee income attributed to wealth management, lending, and deposit account fees

* INCREASED LOAN LOSS ALLOWANCE - Co bolstered loan loss reserves due to economic uncertainty

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $778 mln $634.19

Revenue mln (10

Analysts

)

Q3 EPS $2.65

Q3 Net $368 mln

Income

Q3 Net $678 mln

Interest

Income

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the banks peer group is "buy"

* Wall Street's median 12-month price target for East West Bancorp Inc ( EWBC ) is $125.00, about 21.3% above its October 20 closing price of $98.32

* The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 11 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)