The stock of East West Bancorp, Inc. (NASDAQ:EWBC) reached all time high today, Nov, 14 and still has $62.87 target or 36.00% above today’s $46.23 share price. This indicates more upside for the $6.86B company. This technical setup was reported by Barchart.com. If the $62.87 PT is reached, the company will be worth $2.47 billion 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 925,148 shares traded hands. East West Bancorp, Inc. (NASDAQ:EWBC) has risen 36.67% since April 12, 2016 and is uptrending. It has outperformed by 31.68% 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. The stock of East West Bancorp, Inc. (NASDAQ:EWBC) earned “Outperform” rating by Macquarie Research on Friday, July 22. Keefe Bruyette & Woods downgraded the shares of EWBC in a report on Thursday, April 28 to “Market Perform” rating. The stock of East West Bancorp, Inc. (NASDAQ:EWBC) earned “Mkt Perform” rating by Raymond James on Monday, October 5. The firm earned “Market Perform” rating on Thursday, April 28 by Wood. The rating was maintained by Deutsche Bank with “Buy” on Wednesday, February 24. Wells Fargo upgraded the shares of EWBC in a report on Friday, October 23 to “Outperform” rating. BMO Capital Markets upgraded East West Bancorp, Inc. (NASDAQ:EWBC) on Thursday, January 14 to “Outperform” rating.
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 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.
Moreover, Creative Planning has 0% invested in East West Bancorp, Inc. (NASDAQ:EWBC) for 9,529 shares. State Of New Jersey Common Pension Fund D holds 100,000 shares or 0.02% of its portfolio. First Trust Advsrs L P holds 0.03% of its portfolio in East West Bancorp, Inc. (NASDAQ:EWBC) for 315,320 shares. Axa holds 0.03% of its portfolio in East West Bancorp, Inc. (NASDAQ:EWBC) for 202,521 shares. Commonwealth Of Pennsylvania School Empls Retrmt System holds 27,735 shares or 0.02% of its portfolio. Us Savings Bank De last reported 30,434 shares in the company. Springbok Capital Llc reported 800 shares or 0% of all its holdings. Retirement Of Alabama has 0.11% invested in the company for 574,282 shares. Ls Investment Advisors Limited Co holds 0.02% or 8,684 shares in its portfolio. Sg Americas Limited Liability Corp holds 0.01% or 44,805 shares in its portfolio. Telemus Cap Ltd holds 0.25% or 58,633 shares in its portfolio. Teachers Retirement Sys Of The State Of Kentucky, a Kentucky-based fund reported 61,123 shares. Cullen Frost Bankers Inc holds 0.01% or 10,078 shares in its portfolio. Moreover, Bankshares Of Ny Mellon has 0.02% invested in East West Bancorp, Inc. (NASDAQ:EWBC) for 2.01M shares. Cambiar Invsts Limited Liability holds 112,778 shares or 0.05% of its portfolio.
Insider Transactions: Since August 24, 2016, the stock had 0 buys, and 2 sales for $161,851 net activity. 2,888 shares with value of $99,971 were sold by Estrada Rudolph on Wednesday, August 24. LIU JACK C sold $61,880 worth of East West Bancorp, Inc. (NASDAQ:EWBC) on Thursday, October 27.
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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