The short interest in East West Bancorp (NASDAQ:EWBC) has increased from 1,754,303 on May 31,2016 to 2,052,184 on June 15,2016. The change was measured at 297,881 shares or 17%. The leftover shorts were 1.4% of the floated shares. The days to cover are 2, given the average daily volume of 943,466 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
East West Bancorp (NASDAQ:EWBC): The stock opened at $34.60 on Friday but the bulls could not build on the opening and the stock topped out at $35.23 for the day. The stock traded down to $33.74 during the day, due to lack of any buying support eventually closed down at $33.86 with a loss of -9.30% for the day. The stock had closed at $37.33 on the previous day. The total traded volume was 2,092,505 shares.
The company shares have dropped -24.15% from its 1 Year high price. On Jul 15, 2015, the shares registered one year high at $45.91 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $36.97 and the 200 Day Moving Average price is recorded at $35.36.
East West Bancorp (NASDAQ:EWBC) has tumbled 4.65% during the past week and has dropped 12.62% 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 3.06%. East West Bancorp (NASDAQ:EWBC) has underperformed the index by 9.98% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
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.