East West Bancorp (EWBC) : Traders are negative on East West Bancorp (EWBC), as it has 0.8% of short positions outstanding compared to its float. The total shorts have reduced by -275,630 shares, which is a -18.9% reduction. From Jul 29, 2016, to August 15, 2016, the shorts came down from,1,455,828 to 1,180,198 shares. While the daily trading volume of the stock is 656,643, there are 2 days remaining to cover the open short positions. The short interest indicates that the traders dont see a large downside in the stock from the current levels. The short interest information was released on Wednesday Aug 24th after the market close.
East West Bancorp (NASDAQ:EWBC): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $34.63 and $34.45 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $34.88. The buying momentum continued till the end and the stock did not give up its gains. It closed at $34.61, notching a gain of 0.06% for the day. The total traded volume was 729,068 . The stock had closed at $34.59 on the previous day.
In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (Executive Vice President) of East West Bancorp Inc, Cai-Lee Wendy H had sold 1,200 shares worth of $43,644 in a transaction dated May 12, 2016. In this transaction, 1,200 shares were sold at $36.37 per share.
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.