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East West Bancorp: 1Q Earnings Snapshot

PASADENA, Calif. (AP) _ East West Bancorp Inc. (EWBC) on Thursday reported first-quarter net income of $164 million.

The Pasadena, California-based bank said it had earnings of $1.12 per share. Earnings, adjusted for one-time gains and costs, were $1.16 per share.

The results missed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.22 per share.

The bank holding company posted revenue of $505.4 million in the period. Its revenue net of interest expense was $404.6 million, which also missed Street forecasts. Six analysts surveyed by Zacks expected $411.1 million.

East West Bancorp shares have increased 19 percent since the beginning of the year. The stock has dropped 16 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EWBC at https://www.zacks.com/ap/EWBC