After East West Bancorp shares dropped nearly 7% on Monday as trade tensions between the U.S. and China increased with new tariff hikes from China, Sandler O'Neill analyst Aaron James Deer said East West's China exposure is "surprisingly limited," noting that the company has put the percentage of its clients with exposure to the current tariffs at about 4% of its loan portfolio. The analyst, who sees the bank's prospects being " far more tied to the strength of the U.S. economy than to the Chinese economy or trade between the two," reiterates a Buy rating with a $56 price target on East West Bancorp shares.

Reports Q1 revenue $644M, consensus $581.1M. "This quarter we grew deposits by $2.5 billion to a new record level and optimized funding to support prudent asset growth," said Dominic Ng, Chairman and Chief Executive Officer. "East West grew adjusted diluted earnings per share 3% and tangible book value per share 2% quarter-over-quarter. With continued confidence in our earnings generation, stable credit quality, and capital strength, we were pleased to repurchase 1.2 million shares of common stock," continued Ng. "Through the strength of our diversified business model, conservatively managed balance sheet, and industry-leading profitability, East West remains well-positioned to outperform the industry in 2024 and beyond." Book value per share was $50.48 as of March 31, 2024, up 2% quarter-over-quarter and 13% year-over-year. As of March 31, 2024, tangible book value per share was $47.09, up 2% quarter-over-quarter and 14% year-over-year.