Could East West Bancorp, Inc. (EWBC) Go Down After Making 52-Week High?

January 20, 2018 - By Kurt Siggers

Investors sentiment decreased to 1.18 in Q3 2017. Its down 0.20, from 1.38 in 2017Q2. It fall, as 31 investors sold East West Bancorp, Inc. shares while 116 reduced holdings. 47 funds opened positions while 127 raised stakes. 124.37 million shares or 0.88% more from 123.29 million shares in 2017Q2 were reported.
Morgan Stanley has 555,550 shares for 0.01% of their portfolio. First Quadrant L P Ca invested in 429,664 shares. Lsv Asset invested in 0% or 39,000 shares. Wellington Shields Cap Limited Liability Company reported 74,850 shares. 113,094 are owned by Millennium Mgmt. Smith Graham Advsrs Limited Partnership has invested 0.6% in East West Bancorp, Inc. (NASDAQ:EWBC). Alps Advsrs holds 0.01% or 18,162 shares in its portfolio. Rafferty Asset Llc invested in 0.04% or 30,649 shares. The Florida-based Raymond James Fin Services Advisors has invested 0.01% in East West Bancorp, Inc. (NASDAQ:EWBC). National Bank Of America De holds 1.52 million shares or 0.01% of its portfolio. Tower Capital Limited Liability Company (Trc) holds 427 shares or 0% of its portfolio. Community Finance Svcs Gru Limited Liability Com holds 124,294 shares. The Ohio-based Huntington Bancorp has invested 0% in East West Bancorp, Inc. (NASDAQ:EWBC). Kennedy Cap Mgmt Incorporated has 0.28% invested in East West Bancorp, Inc. (NASDAQ:EWBC). Convergence Investment Partners Limited Co reported 0.29% in East West Bancorp, Inc. (NASDAQ:EWBC).

Since September 18, 2017, it had 0 insider purchases, and 3 selling transactions for $1.02 million activity. 5,000 shares were sold by KRAUSE DOUGLAS PAUL, worth $306,286 on Tuesday, December 19. 1,916 East West Bancorp, Inc. (NASDAQ:EWBC) shares with value of $107,239 were sold by Estrada Rudolph.

The stock of East West Bancorp, Inc. (NASDAQ:EWBC) hit a new 52-week high and has $71.38 target or 5.00 % above today’s $67.98 share price. The 9 months bullish chart indicates low risk for the $9.83B company. The 1-year high was reported on Jan, 20 by Barchart.com. If the $71.38 price target is reached, the company will be worth $491.30M 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.

The stock increased 1.61% or $1.08 during the last trading session, reaching $67.98. About 565,815 shares traded. East West Bancorp, Inc. (NASDAQ:EWBC) has risen 46.25% since January 20, 2017 and is uptrending. It has outperformed by 29.55% the S&P500.

Analysts await East West Bancorp, Inc. (NASDAQ:EWBC) to report earnings on January, 24. They expect $0.91 earnings per share, up 19.74 % or $0.15 from last year’s $0.76 per share. EWBC’s profit will be $131.53 million for 18.68 P/E if the $0.91 EPS becomes a reality. After $0.89 actual earnings per share reported by East West Bancorp, Inc. for the previous quarter, Wall Street now forecasts 2.25 % EPS growth.

East West Bancorp, Inc. (NASDAQ:EWBC) Ratings Coverage

Among 14 analysts covering East West Bancorp Inc. (NASDAQ:EWBC), 7 have Buy rating, 0 Sell and 7 Hold. Therefore 50% are positive. East West Bancorp Inc. had 41 analyst reports since August 26, 2015 according to SRatingsIntel. As per Monday, December 18, the company rating was maintained by BMO Capital Markets. The stock of East West Bancorp, Inc. (NASDAQ:EWBC) earned “Buy” rating by Barclays Capital on Tuesday, January 2. The company was downgraded on Friday, July 7 by BMO Capital Markets. The stock of East West Bancorp, Inc. (NASDAQ:EWBC) has “Hold” rating given on Thursday, December 21 by Keefe Bruyette & Woods. BMO Capital Markets maintained East West Bancorp, Inc. (NASDAQ:EWBC) on Friday, October 20 with “Market Perform” rating. The stock of East West Bancorp, Inc. (NASDAQ:EWBC) earned “Hold” rating by Keefe Bruyette & Woods on Tuesday, October 3. Barclays Capital maintained East West Bancorp, Inc. (NASDAQ:EWBC) on Friday, October 20 with “Overweight” rating. As per Thursday, July 20, the company rating was maintained by Piper Jaffray. The company was downgraded on Friday, July 14 by Deutsche Bank. Piper Jaffray maintained it with “Buy” rating and $74.0 target in Friday, October 20 report.

East West Bancorp, Inc. operates as the holding firm for East West Bank that provides a range of personal and commercial banking services to small and medium-sized businesses, business executives, professionals, and other individuals. The company has market cap of $9.83 billion. The firm operates through three divisions: Retail Banking, Commercial Banking, and Other. It has a 18.68 P/E ratio. It offers various deposit products comprising personal and business checking and savings accounts, time deposits and individual retirement accounts, travelers?? checks, safe deposit boxes, and MasterCard and Visa merchant deposit services.

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