The stock of East West Bancorp, Inc. (NASDAQ:EWBC) hit a new 52-week high and has $53.31 target or 9.00% above today’s $48.91 share price. The 5 months bullish chart indicates low risk for the $7.15 billion company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $53.31 price target is reached, the company will be worth $643.50M 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 621,183 shares traded hands. East West Bancorp, Inc. (NASDAQ:EWBC) has risen 26.30% since April 28, 2016 and is uptrending. It has outperformed by 20.37% the S&P500.
Analysts await East West Bancorp, Inc. (NASDAQ:EWBC) to report earnings on January, 25. They expect $0.71 earnings per share, up 12.70% or $0.08 from last year’s $0.63 per share. EWBC’s profit will be $103.79 million for 17.22 P/E if the $0.71 EPS becomes a reality. After $0.76 actual earnings per share 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. BMO Capital Markets upgraded the shares of EWBC in a report on Thursday, January 14 to “Outperform” rating. The rating was maintained by Deutsche Bank with “Buy” on Wednesday, February 24. The stock has “Market Perform” rating given by Wood on Thursday, April 28. The firm has “Market Perform” rating by Keefe Bruyette & Woods given on Thursday, April 28. The rating was upgraded by Macquarie Research on Friday, July 22 to “Outperform”. The stock of East West Bancorp, Inc. (NASDAQ:EWBC) has “Mkt Perform” rating given on Monday, October 5 by Raymond James. The rating was upgraded by Wells Fargo on Friday, October 23 to “Outperform”.
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.
Bogle Invest Mgmt L P De, a Massachusetts-based fund reported 30,370 shares. Jennison Assoc Ltd has invested 0.1% of its portfolio in East West Bancorp, Inc. (NASDAQ:EWBC). California State Teachers Retirement Sys holds 0.02% of its portfolio in East West Bancorp, Inc. (NASDAQ:EWBC) for 312,227 shares. Ig Investment Management Ltd reported 2,912 shares or 0% of all its holdings. Fisher Asset Mngmt Ltd Liability Corporation last reported 2.90M shares in the company. The New York-based Springbok Mgmt Limited Liability Com has invested 0% in East West Bancorp, Inc. (NASDAQ:EWBC). Smith Graham Investment Advsrs L P holds 0.51% or 107,840 shares in its portfolio. Trillium Asset Management last reported 313,814 shares in the company. The Australia-based Macquarie Group Inc Inc Limited has invested 0.26% in East West Bancorp, Inc. (NASDAQ:EWBC). Henderson Group Public Ltd Company last reported 0.22% of its portfolio in the stock. Whittier Trust Of Nevada last reported 8,299 shares in the company. Kanaly Company has 0% invested in the company for 102 shares. Boston Partners holds 0.19% or 3.90M shares in its portfolio. Creative Planning accumulated 0% or 9,529 shares. State Of Tennessee Treasury Department holds 0.03% or 168,900 shares in its portfolio.
Insider Transactions: Since August 24, 2016, the stock had 0 insider purchases, and 2 insider sales for $161,851 net activity. LIU JACK C also sold $61,880 worth of East West Bancorp, Inc. (NASDAQ:EWBC) shares. Shares for $99,971 were sold by Estrada Rudolph on Wednesday, August 24.
More news for East West Bancorp, Inc. (NASDAQ:EWBC) were recently published by: Bizjournals.com, which released: “â€‹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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