The stock of East West Bancorp, Inc. (NASDAQ:EWBC) hit a new 52-week high and has $57.06 target or 28.00% above today’s $44.58 share price. The 8 months bullish chart indicates low risk for the $6.70 billion company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $57.06 price target is reached, the company will be worth $1.88B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 851,638 shares traded hands. East West Bancorp, Inc. (NASDAQ:EWBC) has risen 35.81% since April 11, 2016 and is uptrending. It has outperformed by 29.66% the S&P500.
East West Bancorp, Inc. (NASDAQ:EWBC) Ratings Coverage
Out of 8 analysts covering East West Bancorp Inc. (NASDAQ:EWBC), 5 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 63% are positive. East West Bancorp Inc. has been the topic of 14 analyst reports since August 26, 2015 according to StockzIntelligence Inc. Macquarie Research upgraded the stock to “Outperform” rating in Friday, July 22 report. The company was upgraded on Thursday, January 14 by BMO Capital Markets. The stock of East West Bancorp, Inc. (NASDAQ:EWBC) earned “Market Perform” rating by Wood on Thursday, April 28. On Friday, October 23 the stock rating was upgraded by Wells Fargo to “Outperform”. Deutsche Bank maintained the shares of EWBC in a report on Wednesday, February 24 with “Buy” rating. The firm earned “Market Perform” rating on Thursday, April 28 by Keefe Bruyette & Woods. The firm earned “Mkt Perform” rating on Monday, October 5 by Raymond James.
According to Zacks Investment Research, “East West Bancorp, Inc. is the holding company for East West Bank, East West Capital Trust I, East West Capital Trust II and Risk Services, Inc.”
Insitutional Activity: The institutional sentiment decreased to 1.04 in 2016 Q2. Its down 0.13, from 1.17 in 2016Q1. The ratio turned negative, as 30 funds sold all East West Bancorp, Inc. shares owned while 111 reduced positions. 33 funds bought stakes while 113 increased positions. They now own 119.53 million shares or 1.56% less from 121.43 million shares in 2016Q1.
Winfield Associates last reported 80 shares in the company. Moreover, Hbk Invests L P has 0% invested in East West Bancorp, Inc. (NASDAQ:EWBC) for 6,500 shares. Lsv Asset Mgmt reported 29,600 shares or 0% of all its holdings. Ibm Retirement Fund has 14,493 shares for 0.02% of their US portfolio. Martingale Asset Mngmt L P reported 165,732 shares or 0.09% of all its holdings. The New York-based Qs Invsts Ltd Limited Liability Company has invested 0.05% in East West Bancorp, Inc. (NASDAQ:EWBC). Bogle Invest Mgmt Limited Partnership De holds 0.07% or 30,370 shares in its portfolio. Stephens Ar has invested 0.01% of its portfolio in East West Bancorp, Inc. (NASDAQ:EWBC). Barclays Public Ltd last reported 0% of its portfolio in the stock. Blackrock, a New York-based fund reported 149,372 shares. Quantum Cap Mngmt holds 0.04% of its portfolio in East West Bancorp, Inc. (NASDAQ:EWBC) for 8,205 shares. Credit Suisse Ag, a Switzerland-based fund reported 269,355 shares. Charter Tru reported 19,581 shares or 0.08% of all its holdings. California Pub Employees Retirement Sys has invested 0.02% of its portfolio in East West Bancorp, Inc. (NASDAQ:EWBC). The California-based Covington Capital Mgmt has invested 0.31% in East West Bancorp, Inc. (NASDAQ:EWBC).
Insider Transactions: Since May 12, 2016, the stock had 0 buys, and 2 sales for $161,851 net activity. 2,888 shares were sold by Estrada Rudolph, worth $99,971 on Wednesday, August 24. LIU JACK C also sold $61,880 worth of East West Bancorp, Inc. (NASDAQ:EWBC) on Thursday, October 27. Shares for $43,648 were sold by CAI-LEE WENDY H on Thursday, May 12.
More news for East West Bancorp, Inc. (NASDAQ:EWBC) were recently published by: Nasdaq.com, which released: “East West Bancorp, Inc. (EWBC) Ex-Dividend Date Scheduled for October 28, 2016” on October 27, 2016. Bizjournals.com‘s article titled: “â€‹East West Bancorp names new president and COO” and published on October 05, 2016 is yet another important article.
EWBC Company Profile
East West Bancorp, Inc. (East West), incorporated on August 26, 1998, is a bank holding company. The Company’s principal business is to serve as a holding firm for East West Bank (the Bank) and other banking or banking-related subsidiaries. The Bank operates through three divisions: Retail Banking, Commercial Banking and Other. The Retail Banking segment focuses primarily on retail activities through the Bank’s branch network. The Commercial Banking segment primarily generates commercial and industrial loans (C&I) and commercial real estate (CRE) loans through the domestic commercial lending offices located in California, New York, Texas, Washington, Massachusetts, Nevada and Georgia, and through the foreign commercial lending offices located in China and Hong Kong. Furthermore, the Commercial Banking segment also offers international finance and trade services and products. The remaining centralized functions, including the treasury activities of the Company are included in the Other segment.
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