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East West Bancorp tops Street 3Q forecasts

PASADENA, Calif. (AP) _ East West Bancorp Inc. (EWBC) on Thursday reported third-quarter profit of $132.7 million.

The bank, based in Pasadena, California, said it had earnings of 91 cents per share. Earnings, adjusted for non-recurring gains, were 89 cents per share.

The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 87 cents per share.

The bank holding company posted revenue of $389.5 million in the period. Its adjusted revenue was $352.8 million, also topping Street forecasts. Five analysts surveyed by Zacks expected $348.3 million.

East West Bancorp shares have risen 13 percent since the beginning of the year. The stock has increased 49 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