East West Bancorp (NASDAQ:EWBC) has tumbled 3.74% during the past week and has dropped 5.41% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 2.59%. East West Bancorp (NASDAQ:EWBC) has underperformed the index by 6.27% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
East West Bancorp (NASDAQ:EWBC): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $35.42 and $35.14 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $35.89. The buying momentum continued till the end and the stock did not give up its gains. It closed at $35.51, notching a gain of 0.37% for the day. The total traded volume was 2,724,652 . The stock had closed at $35.38 on the previous day.
The company shares have dropped -21.77% from its 1 Year high price. On Jun 23, 2015, the shares registered one year high at $46.50 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $37.12 and the 200 Day Moving Average price is recorded at $35.63.
On the companys insider trading activities,The officer (Executive Vice President) of East West Bancorp Inc, Cai-Lee Wendy H sold 1,200 shares at $36.37 on May 12, 2016. The Insider selling transaction had a total value worth of $43,644. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
Many analysts have stated their opinion on the company shares. Major Brokerage house, Keefe Bruyette & Woods downgrades its ratings on East West Bancorp (NASDAQ:EWBC). In the latest research report, Keefe Bruyette & Woods lowers the target price from $44 per share to $41 per share. According to the latest information available, the shares are now rated Market Perform by the analysts at the agency. Previously, the analysts had a Outperform rating on the shares. The rating by the firm was issued on April 28, 2016. Currently the company Insiders own 0.88% of East West Bancorp shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -2.67% . Institutional Investors own 85.52% of East West Bancorp shares. During last six month period, the net percent change held by insiders has seen a change of -29.45%.
East West Bancorp, Inc. (East West) is a bank holding company. East Wests principal business is to serve as a holding company for East West Bank (Bank) and other banking or banking-related subsidiaries. The Bank offers deposit products, including the traditional range of 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. The Banks lending activities include commercial and residential real estate, construction, trade finance, and commercial business, including accounts receivable, small business administration (SBA), inventory and working capital loans. The Bank provides commercial business loans to small and medium-sized businesses. In addition, the Bank is focused on providing financing to clients needing a financial bridge that facilitates their business transactions between Asia and the United States.