What’s East West Bancorp, Inc. (EWBC) Upside After Reaching 52-Week High?

January 14, 2018 - By Dolores Ford

Investors sentiment decreased to 1.18 in 2017 Q3. Its down 0.20, from 1.38 in 2017Q2. It worsened, 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.
Ubs Oconnor Ltd Liability Co has 97,000 shares. Laurion Limited Partnership stated it has 0.01% of its portfolio in East West Bancorp, Inc. (NASDAQ:EWBC). Alabama-based Mesirow Financial Inv has invested 0.09% in East West Bancorp, Inc. (NASDAQ:EWBC). Suntrust Banks owns 23,564 shares for 0.01% of their portfolio. 142,070 are held by Janney Montgomery Scott Limited Liability Company. Pacad Investment Limited accumulated 700 shares. Dupont Capital Management Corp has invested 0.13% in East West Bancorp, Inc. (NASDAQ:EWBC). Employees Retirement Of Ohio, a Ohio-based fund reported 438,956 shares. Polar Capital Llp holds 71,027 shares. Moreover, Hennessy Advsr has 0.02% invested in East West Bancorp, Inc. (NASDAQ:EWBC). Kennedy Capital Mngmt reported 256,399 shares. Balyasny Asset Mgmt Lc invested in 55,161 shares or 0.01% of the stock. Daiwa Secs Incorporated, a Japan-based fund reported 4,250 shares. Northwestern Mutual Wealth Mgmt Co owns 220 shares. Ny State Common Retirement Fund owns 364,577 shares for 0.03% of their portfolio.

Since September 18, 2017, it had 0 insider buys, and 3 sales for $1.02 million activity. 1,916 shares valued at $107,239 were sold by Estrada Rudolph on Monday, September 18. $610,000 worth of East West Bancorp, Inc. (NASDAQ:EWBC) shares were sold by LI HERMAN Y.

The stock of East West Bancorp, Inc. (NASDAQ:EWBC) hit a new 52-week high and has $70.01 target or 4.00 % above today’s $67.32 share price. The 5 months bullish chart indicates low risk for the $9.73B company. The 1-year high was reported on Jan, 14 by Barchart.com. If the $70.01 price target is reached, the company will be worth $389.20M 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 0.27% or $0.18 during the last trading session, reaching $67.32. About 1.11 million shares traded or 23.27% up from the average. East West Bancorp, Inc. (NASDAQ:EWBC) has risen 46.25% since January 14, 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 $131.53M for 18.49 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. has $74.0 highest and $41 lowest target. $62.85’s average target is -6.64% below currents $67.32 stock price. East West Bancorp Inc. had 41 analyst reports since August 26, 2015 according to SRatingsIntel. The firm has “Outperform” rating given on Thursday, January 14 by BMO Capital Markets. The rating was maintained by Piper Jaffray with “Buy” on Friday, October 20. The rating was maintained by SunTrust on Monday, October 23 with “Buy”. The firm has “Buy” rating by Piper Jaffray given on Thursday, September 21. The company was maintained on Thursday, July 20 by Piper Jaffray. The rating was upgraded by Raymond James to “Market Perform” on Thursday, October 5. On Thursday, January 4 the stock rating was maintained by Sandler O’Neill with “Buy”. The stock of East West Bancorp, Inc. (NASDAQ:EWBC) has “Mkt Perform” rating given on Monday, October 5 by Raymond James. The firm has “Hold” rating by BMO Capital Markets given on Tuesday, October 3. The stock of East West Bancorp, Inc. (NASDAQ:EWBC) earned “Hold” rating by Keefe Bruyette & Woods on Friday, June 23.

More news for East West Bancorp, Inc. (NASDAQ:EWBC) were recently published by: Streetinsider.com, which released: “Form 5 EAST WEST BANCORP INC For: Dec 31 Filed by: RENKEN KEITH W” on January 13, 2018. Businesswire.com‘s article titled: “East West Bancorp Announces Dates for Fourth Quarter and Full Year 2017 …” and published on January 05, 2018 is yet another important article.

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 $9.73 billion. The firm operates through three divisions: Retail Banking, Commercial Banking, and Other. It has a 18.49 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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