Price Action Report: Could East West Bancorp, Inc. Go Down After Reaching Record High?

Price Action Report: Could East West Bancorp, Inc. Go Down After Reaching Record High?

The stock of East West Bancorp, Inc. (NASDAQ:EWBC) reached all time high today, Nov, 30 and still has $52.22 target or 9.00% above today’s $47.91 share price. This indicates more upside for the $7.01 billion company. This technical setup was reported by Barchart.com. If the $52.22 PT is reached, the company will be worth $630.90M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 140,744 shares traded hands. East West Bancorp, Inc. (NASDAQ:EWBC) has risen 22.76% since April 27, 2016 and is uptrending. It has outperformed by 17.53% 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 $103.88 million for 16.87 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 firm earned “Outperform” rating on Friday, October 23 by Wells Fargo. The stock has “Market Perform” rating given by Keefe Bruyette & Woods on Thursday, April 28. The firm has “Mkt Perform” rating by Raymond James given on Monday, October 5. The firm earned “Market Perform” rating on Thursday, April 28 by Wood. The stock of East West Bancorp, Inc. (NASDAQ:EWBC) earned “Buy” rating by Deutsche Bank on Wednesday, February 24. The stock has “Outperform” rating given by BMO Capital Markets on Thursday, January 14. As per Friday, July 22, the company rating was upgraded by Macquarie Research.

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 Q2 2016. Its down 0.19, from 1.04 in 2016Q1. The ratio dropped, 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.
First Mercantile Tru holds 20,933 shares or 0.09% of its portfolio. Moreover, Zurcher Kantonalbank (Zurich Cantonalbank) has 0% invested in East West Bancorp, Inc. (NASDAQ:EWBC) for 3,767 shares. Amalgamated Retail Bank owns 19,502 shares or 0.04% of their US portfolio. Jefferies Gp Limited Liability Corporation holds 0% or 8,622 shares in its portfolio. Bridgewater Associates Limited Partnership has invested 0.02% of its portfolio in East West Bancorp, Inc. (NASDAQ:EWBC). Zacks Invest Mngmt has 0.2% invested in the company for 188,452 shares. Babson Capital Mngmt Ltd Liability reported 11,200 shares or 0.01% of all its holdings. Manufacturers Life Ins Company The accumulated 0.03% or 517,711 shares. Credit Agricole S A last reported 0.01% of its portfolio in the stock. Moreover, Signature Est And Invest Advisors Llc has 0.12% invested in East West Bancorp, Inc. (NASDAQ:EWBC) for 22,031 shares. Comml Bank Of America Corp De has 1.04 million shares for 0.01% of their US portfolio. Dreman Value Management L L C reported 9,692 shares or 0.2% of all its holdings. Signaturefd Ltd holds 0% of its portfolio in East West Bancorp, Inc. (NASDAQ:EWBC) for 28 shares. Wells Fargo Mn has 0% invested in the company for 328,474 shares. The New York-based Pinebridge Invs L P has invested 0.1% in East West Bancorp, Inc. (NASDAQ:EWBC).

Insider Transactions: Since August 24, 2016, the stock had 0 buys, and 2 insider sales for $161,851 net activity. LIU JACK C sold $61,880 worth of stock. Another trade for 2,888 shares valued at $99,971 was made by Estrada Rudolph on Wednesday, August 24.

More news for East West Bancorp, Inc. (NASDAQ:EWBC) were recently published by: Bizjournals.com, which released: “​East West Bancorp names new president and COO” on October 05, 2016. Forbes.com‘s article titled: “Ex-Dividend Reminder: Ally Financial, East West Bancorp and People’s United …” and published on October 26, 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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