Recent Insider Transactions • May 19
Insider recently bought ₱297k worth of stock On the 13th of May, Wilfredo Montino bought around 23k shares on-market at roughly ₱13.10 per share. This trade did not impact their existing holding. In the last 3 months, there was an even bigger purchase from another insider worth ₱1.5m. Insiders have collectively bought ₱16m more in shares than they have sold in the last 12 months. Reported Earnings • May 17
First quarter 2026 earnings released: EPS: ₱0.82 (vs ₱0.82 in 1Q 2025) First quarter 2026 results: EPS: ₱0.82 (up from ₱0.82 in 1Q 2025). Revenue: ₱8.58b (flat on 1Q 2025). Net income: ₱1.86b (up 1.1% from 1Q 2025). Profit margin: 22% (in line with 1Q 2025). Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 21% per year. Declared Dividend • Apr 25
Dividend increased to ₱0.82 Dividend of ₱0.82 is 21% higher than last year. Ex-date: 8th May 2026 Payment date: 29th May 2026 Dividend yield will be 5.9%, which is higher than the industry average of 3.1%. Sustainability & Growth The dividend has increased by an average of 14% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 7.2% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 31
Full year 2025 earnings released: EPS: ₱4.10 (vs ₱3.38 in FY 2024) Full year 2025 results: EPS: ₱4.10 (up from ₱3.38 in FY 2024). Revenue: ₱36.8b (up 12% from FY 2024). Net income: ₱9.22b (up 21% from FY 2024). Profit margin: 25% (up from 23% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 22% per year. Recent Insider Transactions • Mar 18
Chief Executive Officer recently bought ₱445k worth of stock On the 13th of March, Jerry Ngo bought around 34k shares on-market at roughly ₱13.17 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth ₱1.1m. Jerry has been a buyer over the last 12 months, purchasing a net total of ₱13m worth in shares. Recent Insider Transactions • Mar 10
Chief Executive Officer recently bought ₱1.1m worth of stock On the 6th of March, Jerry Ngo bought around 82k shares on-market at roughly ₱13.29 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Jerry has been a buyer over the last 12 months, purchasing a net total of ₱12m worth in shares. Recent Insider Transactions • Mar 05
Chief Executive Officer recently bought ₱240k worth of stock On the 27th of February, Jerry Ngo bought around 18k shares on-market at roughly ₱13.34 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth ₱1.0m. Jerry has been a buyer over the last 12 months, purchasing a net total of ₱11m worth in shares. 공시 • Jan 30
East West Banking Corporation, Annual General Meeting, Apr 23, 2026 East West Banking Corporation, Annual General Meeting, Apr 23, 2026, at 08:30 W. Australia Standard Time. Recent Insider Transactions • Dec 23
Chief Executive Officer recently bought ₱658k worth of stock On the 17th of December, Jerry Ngo bought around 57k shares on-market at roughly ₱11.48 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth ₱1.1m. Jerry has been a buyer over the last 12 months, purchasing a net total of ₱11m worth in shares. Recent Insider Transactions • Dec 10
Chief Executive Officer recently bought ₱899k worth of stock On the 5th of December, Jerry Ngo bought around 78k shares on-market at roughly ₱11.56 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth ₱1.1m. Jerry has been a buyer over the last 12 months, purchasing a net total of ₱10m worth in shares. Buy Or Sell Opportunity • Dec 09
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.0% to ₱11.34. The fair value is estimated to be ₱14.45, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 23%. Recent Insider Transactions • Nov 25
Chief Executive Officer recently bought ₱96k worth of stock On the 17th of November, Jerry Ngo bought around 8k shares on-market at roughly ₱11.38 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth ₱1.1m. Jerry has been a buyer over the last 12 months, purchasing a net total of ₱9.2m worth in shares. Buy Or Sell Opportunity • Nov 19
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 7.4% to ₱11.26. The fair value is estimated to be ₱14.10, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 23%. Reported Earnings • Nov 18
Third quarter 2025 earnings released: EPS: ₱0.10 (vs ₱1.03 in 3Q 2024) Third quarter 2025 results: EPS: ₱0.10. Revenue: ₱9.69b (up 7.1% from 3Q 2024). Net income: ₱2.48b (up 6.8% from 3Q 2024). Profit margin: 26% (in line with 3Q 2024). Recent Insider Transactions • Nov 18
Chief Executive Officer recently bought ₱1.1m worth of stock On the 14th of November, Jerry Ngo bought around 92k shares on-market at roughly ₱11.50 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Jerry has been a buyer over the last 12 months, purchasing a net total of ₱9.1m worth in shares. Recent Insider Transactions • Nov 11
Chief Executive Officer recently bought ₱495k worth of stock On the 7th of November, Jerry Ngo bought around 43k shares on-market at roughly ₱11.51 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth ₱975k. Jerry has been a buyer over the last 12 months, purchasing a net total of ₱8.0m worth in shares. Recent Insider Transactions • Oct 28
Chief Executive Officer recently bought ₱975k worth of stock On the 21st of October, Jerry Ngo bought around 85k shares on-market at roughly ₱11.51 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Jerry has been a buyer over the last 12 months, purchasing a net total of ₱7.5m worth in shares. Buy Or Sell Opportunity • Oct 27
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.2% to ₱11.40. The fair value is estimated to be ₱14.27, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 29%. Recent Insider Transactions • Oct 22
Chief Executive Officer recently bought ₱469k worth of stock On the 17th of October, Jerry Ngo bought around 41k shares on-market at roughly ₱11.45 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Jerry has been a buyer over the last 12 months, purchasing a net total of ₱6.5m worth in shares. Recent Insider Transactions • Oct 14
Chief Executive Officer recently bought ₱97k worth of stock On the 10th of October, Jerry Ngo bought around 9k shares on-market at roughly ₱11.45 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth ₱407k. Jerry has been a buyer over the last 12 months, purchasing a net total of ₱6.1m worth in shares. Buy Or Sell Opportunity • Oct 10
Now 20% undervalued Over the last 90 days, the stock has risen 3.1% to ₱11.42. The fair value is estimated to be ₱14.30, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 29%. 공시 • Aug 28
East West Banking Corporation Approves the Appointment of Ramon Vicente De Vera II as Senior Vice President, Chief Business Development Officer, Effective October 16, 2025 East West Banking Corporation Board of Directors, in its regular meeting on August 28, 2025, approved the appointment of Mr. Ramon Vicente De Vera II as Senior Vice President, Chief Business Development Officer effective October 16, 2025. Mr. De Vera is a seasoned fintech transformation strategist with over 20 years of experience spanning traditional banking, digital ventures, and emerging technologies. He joins EastWest Bank from BDO Unibank, where he led digital transformation initiatives such as branch modernization, MSME lending, and generative AI integration. He began his career at Standard Chartered and Citibank, later taking on strategic roles at TV5 and Globe Telecom, where he drove media innovation and rural market expansion. From 2010 to 2021, he was with UnionBank, leading multiple business units and co-founded UnionDigital Bank. In 2023, he served as Strategic Advisor to Aboitiz Data Innovation, helping shape its AI and data strategy. Mr. De Vera II holds a Philosophy degree from Ateneo de Manila University (1997) and a Master's in Business Management from the Asian Institute of Management (2001), both earned with Dean's List honors. Recent Insider Transactions • Aug 27
Chief Executive Officer recently bought ₱67k worth of stock On the 19th of August, Jerry Ngo bought around 6k shares on-market at roughly ₱12.24 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth ₱1.0m. Jerry has been a buyer over the last 12 months, purchasing a net total of ₱6.0m worth in shares. Recent Insider Transactions • Aug 19
Chief Executive Officer recently bought ₱407k worth of stock On the 15th of August, Jerry Ngo bought around 32k shares on-market at roughly ₱12.71 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth ₱1.0m. Jerry has been a buyer over the last 12 months, purchasing a net total of ₱5.9m worth in shares. Reported Earnings • Aug 16
Second quarter 2025 earnings released: EPS: ₱1.02 (vs ₱0.79 in 2Q 2024) Second quarter 2025 results: EPS: ₱1.02 (up from ₱0.79 in 2Q 2024). Revenue: ₱9.10b (up 14% from 2Q 2024). Net income: ₱2.30b (up 28% from 2Q 2024). Profit margin: 25% (up from 23% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Aug 12
Chief Executive Officer recently bought ₱104k worth of stock On the 8th of August, Jerry Ngo bought around 8k shares on-market at roughly ₱12.96 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth ₱1.0m. Jerry has been a buyer over the last 12 months, purchasing a net total of ₱5.5m worth in shares. Recent Insider Transactions • Jul 22
Chief Executive Officer recently bought ₱167k worth of stock On the 18th of July, Jerry Ngo bought around 15k shares on-market at roughly ₱11.11 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth ₱1.0m. Jerry has been a buyer over the last 12 months, purchasing a net total of ₱5.3m worth in shares. Recent Insider Transactions • Jul 15
Chief Executive Officer recently bought ₱546k worth of stock On the 11th of July, Jerry Ngo bought around 49k shares on-market at roughly ₱11.09 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth ₱1.0m. Jerry has been a buyer over the last 12 months, purchasing a net total of ₱4.5m worth in shares. Recent Insider Transactions • Jul 03
Chief Executive Officer recently bought ₱274k worth of stock On the 30th of June, Jerry Ngo bought around 25k shares on-market at roughly ₱10.96 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth ₱1.0m. Jerry has been a buyer over the last 12 months, purchasing a net total of ₱2.0m worth in shares. Recent Insider Transactions • Jun 17
Chief Executive Officer recently bought ₱763k worth of stock On the 11th of June, Jerry Ngo bought around 73k shares on-market at roughly ₱10.42 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth ₱1.0m. Jerry has been a buyer over the last 12 months, purchasing a net total of ₱1.7m worth in shares. Recent Insider Transactions • Jun 10
Chief Executive Officer recently bought ₱957k worth of stock On the 5th of June, Jerry Ngo bought around 90k shares on-market at roughly ₱10.65 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth ₱1.0m. This was Jerry's only on-market trade for the last 12 months. Reported Earnings • May 16
First quarter 2025 earnings released: EPS: ₱0.82 (vs ₱0.76 in 1Q 2024) First quarter 2025 results: EPS: ₱0.82 (up from ₱0.76 in 1Q 2024). Revenue: ₱8.62b (up 9.7% from 1Q 2024). Net income: ₱1.84b (up 8.0% from 1Q 2024). Profit margin: 21% (in line with 1Q 2024). Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Declared Dividend • Apr 27
Dividend increased to ₱0.68 Dividend of ₱0.68 is 26% higher than last year. Ex-date: 9th May 2025 Payment date: 31st May 2025 Dividend yield will be 6.3%, which is higher than the industry average of 3.1%. Sustainability & Growth The dividend has increased by an average of 13% per year over the past 9 years. However, payments have been volatile during that time. Earnings per share has grown by 4.0% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. 공시 • Apr 24
East West Banking Corporation Approves Cash Dividend, Payable on May 31, 2025 East West Banking Corporation at its AGM held on April 24, 2025, approved cash dividend declaration in the amount of PHP 0.68 per share, payable on May 31, 2025 to all stockholders of record as of May 12, 2025. Reported Earnings • Mar 30
Full year 2024 earnings released: EPS: ₱3.38 (vs ₱2.70 in FY 2023) Full year 2024 results: EPS: ₱3.38 (up from ₱2.70 in FY 2023). Revenue: ₱32.8b (up 17% from FY 2023). Net income: ₱7.61b (up 25% from FY 2023). Profit margin: 23% (up from 22% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. New Risk • Mar 26
New major risk - Revenue and earnings growth Earnings have declined by 2.9% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 2.9% per year over the past 5 years. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. 공시 • Feb 28
East West Banking Corporation Announces Retirement of Atty. Lourdes A. Ona as Head of the Legal Services Group East West Banking Corporation in its regular meeting 27 February 2025, approved the retirement of Atty. Lourdes A. Ona as Head of the Legal Services Group effective February 28, 2025, and continuation of her function as Head of Legal from March 01, 2025, to March 31, 2025, under Fixed Term Executive employment status. 공시 • Jan 30
East West Banking Corporation, Annual General Meeting, Apr 24, 2025 East West Banking Corporation, Annual General Meeting, Apr 24, 2025, at 08:30 W. Australia Standard Time. Recent Insider Transactions • Nov 20
Insider recently bought ₱985k worth of stock On the 13th of November, Sree Sundaram bought around 100k shares on-market at roughly ₱9.85 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought ₱11m more in shares than they have sold in the last 12 months. Reported Earnings • Nov 16
Third quarter 2024 earnings released: EPS: ₱1.03 (vs ₱0.69 in 3Q 2023) Third quarter 2024 results: EPS: ₱1.03 (up from ₱0.69 in 3Q 2023). Revenue: ₱9.04b (up 24% from 3Q 2023). Net income: ₱2.32b (up 49% from 3Q 2023). Profit margin: 26% (up from 21% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Recent Insider Transactions • Sep 18
Insider recently bought ₱264k worth of stock On the 13th of September, Rafael Algarra bought around 30k shares on-market at roughly ₱8.80 per share. This transaction amounted to 13% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth ₱404k. Insiders have collectively bought ₱11m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Sep 07
Insider recently bought ₱404k worth of stock On the 3rd of September, Rafael Algarra bought around 46k shares on-market at roughly ₱8.89 per share. This transaction amounted to 25% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought ₱11m more in shares than they have sold in the last 12 months. Price Target Changed • Aug 23
Price target increased by 8.2% to ₱11.20 Up from ₱10.35, the current price target is provided by 1 analyst. New target price is 23% above last closing price of ₱9.08. Stock is up 30% over the past year. The company is forecast to post earnings per share of ₱3.12 for next year compared to ₱2.70 last year. Reported Earnings • Aug 15
Second quarter 2024 earnings released: EPS: ₱0.79 (vs ₱0.77 in 2Q 2023) Second quarter 2024 results: EPS: ₱0.79 (up from ₱0.77 in 2Q 2023). Revenue: ₱7.96b (up 14% from 2Q 2023). Net income: ₱1.79b (up 3.7% from 2Q 2023). Profit margin: 23% (down from 25% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Recent Insider Transactions • May 17
Chief Executive Officer recently bought ₱8.7m worth of stock On the 15th of May, Jerry Ngo bought around 904k shares on-market at roughly ₱9.66 per share. This transaction amounted to 4.7% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Jerry's only on-market trade for the last 12 months. Reported Earnings • May 15
First quarter 2024 earnings released: EPS: ₱0.76 (vs ₱0.70 in 1Q 2023) First quarter 2024 results: EPS: ₱0.76 (up from ₱0.70 in 1Q 2023). Revenue: ₱7.86b (up 22% from 1Q 2023). Net income: ₱1.70b (up 7.7% from 1Q 2023). Profit margin: 22% (down from 25% in 1Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • May 10
Upcoming dividend of ₱0.54 per share Eligible shareholders must have bought the stock before 16 May 2024. Payment date: 31 May 2024. Payout ratio is a comfortable 20% but the company is not cash flow positive. Trailing yield: 5.6%. Lower than top quartile of Filipino dividend payers (5.7%). Higher than average of industry peers (3.4%). Recent Insider Transactions • Apr 30
President & Director recently bought ₱707k worth of stock On the 25th of April, Jacqueline Fernandez bought around 76k shares on-market at roughly ₱9.30 per share. This transaction amounted to 15% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Jacqueline has been a buyer over the last 12 months, purchasing a net total of ₱1.7m worth in shares. Declared Dividend • Apr 23
Dividend increased to ₱0.54 Dividend of ₱0.54 is 32% higher than last year. Ex-date: 16th May 2024 Payment date: 31st May 2024 Dividend yield will be 5.9%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is well covered by earnings (14% payout ratio) and is expected to be well covered in 3 years' time (13% forecast payout ratio). The dividend has increased by an average of 11% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to grow by 17% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 28
Full year 2023 earnings released: EPS: ₱2.70 (vs ₱2.06 in FY 2022) Full year 2023 results: EPS: ₱2.70 (up from ₱2.06 in FY 2022). Revenue: ₱28.0b (up 20% from FY 2022). Net income: ₱6.08b (up 32% from FY 2022). Profit margin: 22% (up from 20% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 2% per year. 공시 • Jan 27
East West Banking Corporation Announces the Appointment of Annaliza Guanco Tan-Cimafranca as Senior Vice President East West Banking Corporation announced the appointment of Ms. Annaliza Guanco Tan-Cimafranca as Senior Vice President under the Office of the CEO effective January 25, 2024. Ms. Cimafranca is a highly seasoned professional with an impressive 27-year career marked by significant achievements in governance roles, particularly in the financial sector. With a remarkable 19 years of risk-based supervisory experience, Anna has successfully managed diverse BSP-supervised entities, including universal and commercial banks, as well as subsidiaries of foreign, thrift, rural, and cooperative banks. She is currently serving as the Senior Vice President of Filinvest Land. Anna earned her Bachelor of Science degree in Accountancy in Polytechnic University of the Philippines in March 1997, Magna Cum Laude. She obtained her Master's Degree in Business Administration at De La Salle University with distinction in December 2003. She finished her Chief Strategy Officer's Program at the National University of Singapore last November 2023. 공시 • Jan 26
East West Banking Corporation, Annual General Meeting, Apr 19, 2024 East West Banking Corporation, Annual General Meeting, Apr 19, 2024, at 08:30 Singapore Standard Time. Agenda: To consider Ratification of the Audited Financial Statements for the year ending 31 December 2023; to consider Ratification of the Acts and Resolutions of the Board of Directors and Management for 2023; to consider Election of the member of the Board of Directors to serve for 2024-2025; to consider Appointment of External Auditor; and to consider any other matters. Reported Earnings • Nov 15
Third quarter 2023 earnings released: EPS: ₱0.69 (vs ₱0.67 in 3Q 2022) Third quarter 2023 results: EPS: ₱0.69 (up from ₱0.67 in 3Q 2022). Revenue: ₱7.27b (up 16% from 3Q 2022). Net income: ₱1.56b (up 3.2% from 3Q 2022). Profit margin: 21% (down from 24% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 8% per year. New Risk • Nov 15
New major risk - Revenue and earnings growth Earnings have declined by 4.9% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 4.9% per year over the past 5 years. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Recent Insider Transactions • Oct 05
Senior EVP & Head of Retail Banking recently bought ₱945k worth of stock On the 29th of September, Gerardo Susmerano bought around 100k shares on-market at roughly ₱9.45 per share. This transaction amounted to 13% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought ₱5.3m more in shares than they have sold in the last 12 months. 공시 • Sep 29
East West Banking Corporation Announces Executive Changes East West Banking Corporation announced that during the Regular Meeting of the Board of Directors of East West Banking Corporation held on September 28, 2023, the Board of Directors: Elected a new member of the Board in the person of Ms. Rhoda "Chiqui" A. Huang, to fill the Board seat left by Mr. Francis C. Gotianun, who as Filinvest Development Corporation (FDC) director will focus on his leadership role in Filinvest Hospitality. Ms. Huang is an invaluable addition to the Bank's Board of Directors, bringing more than thirty (30) years of experience in Philippine corporate, financial institutions. Prior to joining FDC, she was President of BPI Capital Corporation. She was also the former Branch Head of Investment Banking for Credit Suisse Philippines and spent 19 years at JP Morgan Chase and its predecessor institutions. She has led various aspects of investment banking, including handling mergers and acquisitions, facilitating equity-linked transactions, managing equity and debt capital markets, overseeing structured products and lending, as well has handling risk management. Ms. Huang completed her Bachelor's Degree in Business Administration and Accountancy at the University of the Philippines and is a Certified Public Accountant.; and approved the promotion of Mr. Rene Peralta from First Vice President to Senior Vice President. Mr. Peralta was recently appointed as the Bank's the Chief Corporate Credit Officer (CCCO) as part of the Bank's strategy refresh and evolved goals. As CCCO he is primarily responsible for leading the independent review and assessment of the corporate loan portfolio and providing the credit management framework for the Bank's corporate lending business. He also serves as the Chairman of the Bank's Credit Committee. Mr. Peralta brings with him over 30 years of professional experience in the banking industry particularly in the areas of credit, account management, FX trading and stock brokerage. Prior to EW, he was the Securities Head of United Coconut Planters Bank. Mr. Peralta is a graduate of AB Economics from Ateneo De Manila University. 공시 • Sep 01
East West Banking Corporation Announces Resignation of Francis Nathaniel C. Gotianun, Director East West Banking Corporation announced that at its board meeting held on August 31, 2023, approved the resignation of Mr. Francis Nathaniel C. Gotianun, Director of the Bank, effective September 1, 2023. Reported Earnings • Aug 15
Second quarter 2023 earnings released: EPS: ₱0.77 (vs ₱0.45 in 2Q 2022) Second quarter 2023 results: EPS: ₱0.77 (up from ₱0.45 in 2Q 2022). Revenue: ₱6.99b (up 17% from 2Q 2022). Net income: ₱1.72b (up 70% from 2Q 2022). Profit margin: 25% (up from 17% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. 공시 • May 31
East West Banking Corporation Announces Executive Appointments East West Banking Corporation approved the hiring and appointment of the Joseph Gerard Tiamson Senior Vice President Head of Banking Operations Group effective June 1, 2023. Gerry brings with him 36 years of experience in the banking industry. He is currently a consultant in Spenn PH Inc. where his main responsibility is to identify, rollout and implement digital banking services for the unbanked sector in the Philippines. Gerry started his banking career with Citi in 1987. He rose from the ranks and eventually became a Manager in 1993. After his 7 years stint with Citi, he joined Unionbank as the Treasury Division head in 1994 and was with them for 2 years. He was invited by Standard Chartered in 1996 where he handled various roles and became the SVP for Wealth Management/Shared Distribution. After 10 years, he decided to join Export and Industry Bank in 2006 as the VP and Group Head for Business Center Management. He later joined Deutsche Knowledge Services in January 2012 and handled various roles where his last position was VP-Head of Talent and Development for Global Tech Operations for until 2015. Prior to joining Spenn as a consultant, he was the SVP for Central Operations Group in BDO from 2016 to 2017. Gerry earned his Bachelor of Science degree in Business Management at the Ateneo De Manila University in 1983. Atty. Lourdes A. Ona First Vice President Head of Legal Department and Assistant Corporate Secretary effective June 1, 2023 Atty. Lourdes A. Ona, is a CPA-Lawyer who joined the Bank in 2007 as Bank Lawyer, She was appointed as Head of Legal in June 2014. She is currently the Corporate Secretary of East West Rural Bank and East West Finance and Leasing and Director of two (2) subsidiaries of the Bank, Quest Marketing Services Inc. and Pasberfund Holdings Inc. Prior to joining EastWest, she worked with Union Bank of the Philippines, wherein she also assisted in Corporate Secretary works. She also worked with the Securities and Exchange Commission for 4 years, as processing lawyer for the first two years and the last two years as Hearing Officer. Thereafter she engaged in private practice for 4 years, specializing in corporate practice. Her experience and training in the corporate practice equipped her with the required skills for the proposed position. Reported Earnings • May 16
First quarter 2023 earnings released: EPS: ₱0.70 (vs ₱0.23 in 1Q 2022) First quarter 2023 results: EPS: ₱0.70 (up from ₱0.23 in 1Q 2022). Revenue: ₱6.43b (up 42% from 1Q 2022). Net income: ₱1.58b (up 211% from 1Q 2022). Profit margin: 25% (up from 11% in 1Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Upcoming Dividend • May 02
Upcoming dividend of ₱0.41 per share at 5.5% yield Eligible shareholders must have bought the stock before 09 May 2023. Payment date: 31 May 2023. Payout ratio is a comfortable 20% but the company is not cash flow positive. Trailing yield: 5.5%. Lower than top quartile of Filipino dividend payers (5.7%). Higher than average of industry peers (2.7%). Reported Earnings • Mar 30
Full year 2022 earnings released: EPS: ₱2.06 (vs ₱2.01 in FY 2021) Full year 2022 results: EPS: ₱2.06 (up from ₱2.01 in FY 2021). Revenue: ₱23.3b (up 1.9% from FY 2021). Net income: ₱4.63b (up 2.4% from FY 2021). Profit margin: 20% (in line with FY 2021). Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Board Change • Feb 27
Less than half of directors are independent Following the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 6 non-independent directors. Independent Director Cristina Que-Orbeta was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 공시 • Jan 28
East West Banking Corporation Appoints Zenaida A. Ong as Executive Vice President, Head of Corporate Banking Group East West Banking Corporation appointed Zenaida A. Ong as Executive Vice President, Head of Corporate Banking Group effective March 1, 2023 Ms. Ong has over 20 years of professional experience in the banking industry. Prior to joining EastWest Bank (EW), she was Region Head for Metro Manila Lending for Security Bank (SECB). Ms. Ong was responsible for the achievement of overall targets for Metro Manila Lending of the bank including total portfolio, net income, deposit and cross selling. She managed 4 Metro Manila Lending Hubs and handled about 80 personnel. Ms. Ong started her banking career at Solid Bank Corporation, a bank she stayed with for almost six years until she leftas a Senior Assistant Manager for Branch Lending Division - Metro Manila East. In August 2000, she joined REACH Networks Philippines Inc. as an Accounting Manager for more than 3 years then eventually moved to Cinema 2000Group of Companies for the same role for a little over 2 years. She returned to banking and joined Equitable PCI Bank (EPCIB) as a Senior Account Officer and later on joined BDO Unibank (BDO) after the merger, where she served as Senior Assistant Vice President, Team Head for Commercial Banking in South Luzon from March 2006 to January 2012. She initially handled loans in Northern Metro Manila area during her stint with EPCIB, then managed South Luzon region with BDO. She obtained her bachelor's degree in Accountancy from De La Salle University in 1993 and is a Certified Public Accountant. 공시 • Jan 27
East West Banking Corporation, Annual General Meeting, Apr 21, 2023 East West Banking Corporation, Annual General Meeting, Apr 21, 2023, at 08:30 Singapore Standard Time. Agenda: To consider Minutes of the Annual Stockholders' Meeting held on April 22, 2022; to consider Ratification of the Audited Financial Statements for the year ending 31 December 2022; to consider Ratification of the Acts and Resolutions of the Board of Directors and Management; to consider Election of the Board of Directors; to consider Appointment of External Auditor; and to consider other matters. 공시 • Dec 23
East West Banking Corporation Announces Appointment of Senior Officers East West Banking Corporation announced that at the board metering held on Dec. 22, 2022, the company approved the appointment of Mr. Norman Martin C. Reyes as Senior Vice President /Group Head Bank Marketing and Corporate Communications, effective January 16, 2023 and Mr. Juan Alfonso D. Suarez - Executive Vice President and Group Head of Human Resources, effective January 3, 2023. 공시 • Dec 13
East West Banking Corporation Announces Demise of Mercedes T. Gotianun, Chairwoman Emeritus East West Banking Corporation announced that the Mrs. Mercedes T. Gotianun, Chairwoman Emeritus of East West Banking Corporation, passed away yesterday, December 11, 2022. Recent Insider Transactions • Nov 29
Insider recently bought ₱2.7m worth of stock On the 28th of November, Jerry Ngo bought around 400k shares on-market at roughly ₱6.74 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought ₱5.6m more in shares than they have sold in the last 12 months. Reported Earnings • Nov 17
Third quarter 2022 earnings released: EPS: ₱0.67 (vs ₱0.58 in 3Q 2021) Third quarter 2022 results: EPS: ₱0.67 (up from ₱0.58 in 3Q 2021). Revenue: ₱6.29b (up 3.3% from 3Q 2021). Net income: ₱1.51b (up 17% from 3Q 2021). Profit margin: 24% (up from 21% in 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 6 non-independent directors. Independent Director Cristina Que-Orbeta was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 공시 • Sep 30
East West Banking Corporation Announces Resignation of Pierre Leonard C. Monserrate, EVP and Group Head, Human Resources, Effective 31 October 2022 The board of directors of East West Banking Corporation in its regular meeting held on September 29, 2022 ratified the resignation of Pierre Leonard C. Monserrate, EVP and Group Head, Human Resources, effective 31 October 2022. 공시 • Sep 24
East West Banking Corporation to Report Q3, 2022 Results on Oct 20, 2022 East West Banking Corporation announced that they will report Q3, 2022 results at 9:30 AM, Singapore Standard Time on Oct 20, 2022 Recent Insider Transactions • Sep 24
President recently bought ₱1.9m worth of stock On the 22nd of September, Jacqueline Fernandez bought around 300k shares on-market at roughly ₱6.50 per share. This transaction increased Jacqueline's direct individual holding by 5x at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Jacqueline's only on-market trade for the last 12 months. Reported Earnings • Aug 18
Second quarter 2022 earnings released: EPS: ₱0.45 (vs ₱0.79 in 2Q 2021) Second quarter 2022 results: EPS: ₱0.45 (down from ₱0.79 in 2Q 2021). Revenue: ₱5.73b (down 11% from 2Q 2021). Net income: ₱1.01b (down 43% from 2Q 2021). Profit margin: 18% (down from 28% in 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 19% per year whereas the company’s share price has fallen by 15% per year. Recent Insider Transactions • Jul 13
Director recently bought ₱75k worth of stock On the 11th of July, Lourdes Josephine Gotianun-Yap bought around 11k shares on-market at roughly ₱7.00 per share. In the last 3 months, there was an even bigger purchase from another insider worth ₱452k. Insiders have collectively bought ₱944k more in shares than they have sold in the last 12 months. Recent Insider Transactions • Jun 18
Director recently bought ₱217k worth of stock On the 16th of June, Lourdes Josephine Gotianun-Yap bought around 31k shares on-market at roughly ₱7.12 per share. In the last 3 months, there was an even bigger purchase from another insider worth ₱452k. Insiders have collectively bought ₱669k more in shares than they have sold in the last 12 months. Recent Insider Transactions • Jun 03
Special Projects Officer & Director recently bought ₱452k worth of stock On the 1st of June, Isabelle Therese Yap bought around 63k shares on-market at roughly ₱7.20 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • May 17
First quarter 2022 earnings released: EPS: ₱0.23 (vs ₱0.90 in 1Q 2021) First quarter 2022 results: EPS: ₱0.23 (down from ₱0.90 in 1Q 2021). Revenue: ₱4.78b (down 33% from 1Q 2021). Net income: ₱507.6m (down 75% from 1Q 2021). Profit margin: 11% (down from 29% in 1Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has fallen by 15% per year, which means it is performing significantly worse than earnings. Upcoming Dividend • Apr 28
Upcoming dividend of ₱0.40 per share Eligible shareholders must have bought the stock before 05 May 2022. Payment date: 31 May 2022. The company last paid an ordinary dividend in June 2012. The average dividend yield among industry peers is 2.4%. Price Target Changed • Apr 27
Price target increased to ₱15.60 Up from ₱13.70, the current price target is provided by 1 analyst. New target price is 93% above last closing price of ₱8.08. Stock is down 17% over the past year. The company posted earnings per share of ₱2.01 last year. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 6 non-independent directors. Independent Director Cristina Que-Orbeta was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 공시 • Apr 23
East West Banking Corporation Approves the Declaration of Regular Cash Dividend, Payable on May 31, 2022 The Board of Directors of East West Banking Corporation, in its special meeting held April 22, 2022, approved the declaration of regular cash dividends amounting to PHP 903,007,196.23 or 20% of previous year's net income. This is equivalent to PHP 0.40 per share, payable on May 31, 2022 to all stockholders of record as of May 11, 2022. Reported Earnings • Apr 01
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: ₱2.01 (down from ₱2.89 in FY 2020). Revenue: ₱22.9b (down 3.0% from FY 2020). Net income: ₱4.52b (down 31% from FY 2020). Profit margin: 20% (down from 28% in FY 2020). The decrease in margin was primarily driven by higher expenses. Revenue missed analyst estimates by 3.2%. Earnings per share (EPS) also missed analyst estimates by 6.8%. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. 공시 • Mar 01
East West Banking Corporation Announces Resignation of Angel Marie L. Pacis as Senior Vice President Effective March 1,2022 East West Banking Corporation announced that the Board of Directors ratified the resignation of Angel Marie L. Pacis as Senior Vice President. Effective March 1, 2022. 공시 • Jan 29
East West Banking Corporation Announces Appointment of Independent Directors The Board of Directors of East West Banking Corporation in its meeting held, approved the appointment of Ms Cristina Q. Orbeta and Ms Imelda B. Capistrano as Independent Directors of the Bank. Ms. Orbeta held various position at Central Bank of the Philippines in 1975 to 1993. She then became a Director at Management of External Debt Department of Central Bank in 1993 to 1999 and eventually became an Executive Director in the Central Bank Board of Liquidators. Ms. Capistrano has 40 years of experience in the banking industry and is a former Director and Country Manager at Wells Fargo Bank, Manila Representative Office from June 2010 to May 2021. As a chief representative of Wells Fargo Manila Representative Office, she is responsible for Wells Fargo's governance, adherence to local rules and regulations and financial institution relationships in the Philippines. She also represents Wells Fargo Manila Office in local, regional and global conferences or meetings. Among her key accomplishments are established relationships across customers, which reflected in the yearly growth in business directed to Wells Fargo over the years and smooth transition of customers and closure of the Manila Representative Office last May 2021. 공시 • Jan 28
East West Banking Corporation, Annual General Meeting, Apr 22, 2022 East West Banking Corporation, Annual General Meeting, Apr 22, 2022, at 08:30 China Standard Time. Agenda: To consider ratification of the audited financial statements for the year ending December 31, 2021; to consider ratification of the Acts and Resolutions of the Board of Directors and Management for 2021; to consider election of the members of the board of directors including four (4) independent directors to serve for 2022-2023 ; to consider appointment of external auditor; and to consider other matters. Reported Earnings • Nov 16
Third quarter 2021 earnings released: EPS ₱0.58 (vs ₱0.65 in 3Q 2020) The company reported a poor third quarter result with weaker earnings and profit margins, although revenues were flat. Third quarter 2021 results: Revenue: ₱6.09b (flat on 3Q 2020). Net income: ₱1.30b (down 12% from 3Q 2020). Profit margin: 21% (down from 24% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Executive Departure • Oct 06
Director Nelson Bona has left the company On the 30th of September, Nelson Bona's tenure as Director ended after 1.7 years in the role. As of June 2021, Nelson still personally held only 5.00 shares (₱52.0 worth at the time). A total of 5 executives have left over the last 12 months. The current median tenure of the management team is 8.79 years. Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS ₱0.79 (vs ₱0.98 in 2Q 2020) The company reported a mediocre second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: ₱6.46b (up 62% from 2Q 2020). Net income: ₱1.78b (down 19% from 2Q 2020). Profit margin: 28% (down from 55% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Executive Departure • Aug 04
Senior VP & Chief Audit Executive Eloida Oquialda has left the company On the 27th of July, Eloida Oquialda's tenure as Senior VP & Chief Audit Executive ended after 6.2 years in the role. We don't have any record of a personal shareholding under Eloida's name. A total of 4 executives have left over the last 12 months. The current median tenure of the management team is 8.63 years. Recent Insider Transactions • Jun 05
Special Projects Officer & Director recently bought ₱908k worth of stock On the 2nd of June, Isabelle Therese Yap bought around 96k shares on-market at roughly ₱9.42 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought ₱6.6m more in shares than they have sold in the last 12 months. Major Estimate Revision • Jun 05
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast fell from ₱34.2b to ₱30.2b. EPS estimate increased from ₱3.20 to ₱3.28 per share. Net income forecast to grow 20% next year vs 31% growth forecast for Banks industry in Philippines. Consensus price target down from ₱17.88 to ₱13.70. Share price rose 4.3% to ₱9.65 over the past week.