Price Action to Note: What Will Happen to East West Bancorp, Inc. Next? The Stock Just Reaches 52-Week High

Price Action to Note: What Will Happen to East West Bancorp, Inc. Next? The Stock Just Reaches 52 Week High

The stock of East West Bancorp, Inc. (NASDAQ:EWBC) hit a new 52-week high and has $52.05 target or 9.00% above today’s $47.75 share price. The 9 months bullish chart indicates low risk for the $6.99 billion company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $52.05 price target is reached, the company will be worth $629.10 million 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 248,095 shares traded hands. East West Bancorp, Inc. (NASDAQ:EWBC) has risen 26.32% since April 21, 2016 and is uptrending. It has outperformed by 20.99% the S&P500.

Analysts await East West Bancorp, Inc. (NASDAQ:EWBC) to report earnings on January, 25. They expect $0.71 EPS, up 12.70% or $0.08 from last year’s $0.63 per share. EWBC’s profit will be $103.94M for 16.81 P/E if the $0.71 EPS becomes a reality. After $0.76 actual EPS reported by East West Bancorp, Inc. for the previous quarter, Wall Street now forecasts -6.58% negative EPS growth.

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. The rating was downgraded by Raymond James to “Mkt Perform” on Monday, October 5. Keefe Bruyette & Woods downgraded it to “Market Perform” rating and $41 target price in Thursday, April 28 report. The rating was upgraded by BMO Capital Markets on Thursday, January 14 to “Outperform”. The stock of East West Bancorp, Inc. (NASDAQ:EWBC) has “Market Perform” rating given on Thursday, April 28 by Wood. The company was upgraded on Friday, October 23 by Wells Fargo. The rating was maintained by Deutsche Bank with “Buy” on Wednesday, February 24. The firm has “Outperform” rating by Macquarie Research given on Friday, July 22.

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 0.85 in 2016 Q2. Its down 0.19, from 1.04 in 2016Q1. The ratio is 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.
Bessemer Gp Incorporated holds 0% of its portfolio in East West Bancorp, Inc. (NASDAQ:EWBC) for 110 shares. Springbok Cap Management Ltd Liability Corporation owns 800 shares or 0% of their US portfolio. Barclays Public Ltd Company reported 31,017 shares or 0% of all its holdings. State Of Wisconsin Board has 0.06% invested in the company for 465,212 shares. Putnam Invs Limited Liability Com holds 0.01% or 128,256 shares in its portfolio. First Republic Incorporated holds 0.14% or 408,078 shares in its portfolio. Engineers Gate Manager L P owns 39,069 shares or 0.1% of their US portfolio. Jpmorgan Chase & last reported 0.05% of its portfolio in the stock. Renaissance Llc last reported 262,833 shares in the company. Pacad Invest Ltd accumulated 35,000 shares or 0.17% of the stock. Century Capital Mgmt Ltd has 178,415 shares for 0.67% of their US portfolio. Voya Invest Management Lc holds 0.01% or 143,300 shares in its portfolio. Lombardia Cap Prtn Limited Com has 1.8% invested in the company for 800,721 shares. Hbk Invs Lp, a Texas-based fund reported 6,500 shares. Royal Bank Of Canada last reported 142,926 shares in the company.

Insider Transactions: Since August 24, 2016, the stock had 0 buys, and 2 sales for $161,851 net activity. $61,880 worth of East West Bancorp, Inc. (NASDAQ:EWBC) shares were sold by LIU JACK C. The insider Estrada Rudolph sold $99,971.

Another recent and important East West Bancorp, Inc. (NASDAQ:EWBC) news was published by Bizjournals.com which published an article titled: “​East West Bancorp names new president and COO” on October 05, 2016.

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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