East West Bancorp (EWBC) Q1 Earnings Beat, Stock Gains 2.9%

Shares of East West Bancorp, Inc. (EWBC) gained 2.92% in after-market trading following the release of better-than-expected first-quarter 2024 results. Adjusted earnings per share of $2.08 surpassed the Zacks Consensus Estimate of $2.00. However, the bottom line declined 10.3% from the prior-year quarter.Results were primarily aided by an increase in non-interest income. Also, deposit balances increased sequentially in the quarter. However, lower net interest income (NII) and higher expenses and provisions ...