It is trading at $60.91 which is slightly above $57.80, the 50 day moving average and just above the 200 day moving average of $56.47. The 50 day moving average moved up $3.11 whereas the 200 day average was up by +7.87%. 1,539K shares changed hands in the last trading session. Trading volume was down 13.72% under the stocks average daily volume.
Traders are more bearish on shares of the company of late considering the increase in short interest. The company experienced a rise in short interest of 13.41% between September 15, 2017 and September 29, 2017. Short shares increased from 2,182,124 to 2,474,812 over that period. Days to cover decreased from 3.0 to 3.0 and the percentage of shorted shares was 0.02% on September 29.
Here is a rundown on some insider market activity for East West Bancorp, Inc. (NASDAQ:EWBC). Rudolph Estrada, Director disclosed the sale of 1,916 shares. The shares were sold on September 18th for an average price of $55.97. Estrada now owns $866,136 of the stock per the Form 4 SEC filing.
A few notable investment firms have updated their holdings. Shell Asset Management CO cut its holdings by shedding 6,406 shares a decrease of 19.8% from 06/30/2017 to 09/30/2017. Shell Asset Management CO now holds 25,909 shares with a value of $1,549,000. The total value of its holdings decreased 18.2%. State Treasurer State Of Michigan divested its investment by selling 5,300 shares a decrease of 8.9% as of 09/30/2017. State Treasurer State Of Michigan claims 54,300 shares valued at $3,246,000. The value of the position overall is down by 7.0%.
Sit Investment Associates Inc downsized its position by shedding 27,575 shares a decrease of 7.2% in the quarter. Sit Investment Associates Inc owns 354,225 shares worth $21,176,000. The value of the position overall is down by 5.3%. As of quarter end Robeco Institutional Asset Management B.v. had bought 5,512 shares growing its stake by 65.9%. The value of the investment in East West Bancorp, Inc. went from $489,000 to $830,000 a change of 69.7% for the reporting period.
On July 7 the company was downgraded to “Outperform” from “Market Perform” with a current price target of $68.00 in a report issued by BMO Capital. BMO Capital both downgraded the stock and raised the price target on July 7 changing the price target from $44.00 to $68.00 and changing the rating from “Market Perform” to “Outperform”.
On July 14 the company was changed to “Hold” according to a Deutsche Bank report a cut from the previous “Overweight” rating. On October 5, 2017 the stock rating was rated “Market Perform” by Raymond James up from the previous “Market Perform” rating.
October 20 investment analysts at Barclays maintained a company rating of “Market Perform” and raised the price target to $63.00 from $56.00. On October 20 BMO Capital held the company rating at “Market Perform” and moved down the price target from $68.00 to $63.00.
The company is now down by 0.75%% since yesterday’s close of 61.37. East West Bancorp, Inc. recently announced a dividend that will be paid on Wednesday the 15th of November 2017. The dividend payment will be $0.200 per share for the quarter which comes to $0.80 on an annualized basis. This dividend amount will represent a yield of $1.35. The ex-dividend date will be on Friday July 28th, 2017.
The P/E ratio is currently 17.40 and the market value is 8.80B. In the latest earnings report the EPS was $3.50 and is projected to be $3.72 for the current year with 144,485,000 shares now outstanding. Next quarter’s EPS is forecasted to be $0.89 with next year’s EPS projected to be $3.83.
East West Bancorp, Inc. (East West), launched on August 26, 1998, is a bank holding company. The Business’s principal business is to serve as a holding company for East West Bank (the Bank) and other banking or banking-related subsidiaries. The Bank is a California state-chartered bank, which operates in the United States and Greater China. The Bank provides a range of personal and commercial banking services to businesses, business executives, professionals, and other individuals. It operates through three segments: Retail Banking, Commercial Banking and Other. The Retail Banking segment focuses primarily on retail operations through the Bank’s branch network. The Commercial Banking segment primarily generates commercial and industrial (C&I) loans and commercial real estate (CRE) loans through the domestic commercial lending operations in California, New York, Texas, Washington, Massachusetts, Nevada and Georgia, and through the foreign commercial lending operations in China and Hong Kong. The Commercial Banking segment also offers a range of international finance and trade services and products. The remaining centralized functions, including the treasury operations of the Company, are included in the Other segment..