East West Bancorp, Inc.’s filing revealed that its Director CAMPBELL MOLLY unloaded Company’s shares for reported $0.13 million on Mar 07 ’24. In the deal valued at $77.26 per share,1,625 shares were sold. As a result of this transaction, CAMPBELL MOLLY now holds 10,321 shares worth roughly $0.79 million.
Then, LIU JACK C sold 2,000 shares, generating $147,160 in total proceeds. Upon selling the shares at $73.58, the Director now owns 16,739 shares.
Before that, LIU JACK C sold 1,000 shares. East West Bancorp, Inc. shares valued at $68,900 were divested by the Director at a price of $68.90 per share. As a result of the transaction, LIU JACK C now holds 18,739 shares, worth roughly $1.43 million.
Barclays initiated its East West Bancorp, Inc. [EWBC] rating to an Overweight in a research note published on March 08, 2024; the price target was $106. A number of analysts have revised their coverage, including Stephens’s analysts, who began to cover the stock in early December with a ‘”an Overweight”‘ rating. Morgan Stanley also remained covering EWBC and has increased its forecast on December 04, 2023 with a “an Overweight” recommendation from previously “an Equal-weight” rating. Citigroup started covering the stock on December 01, 2023. It rated EWBC as “a Buy”.
Price Performance Review of EWBC
On Monday, East West Bancorp, Inc. [NASDAQ:EWBC] saw its stock jump 1.37% to $76.44. Over the last five days, the stock has lost -2.01%. East West Bancorp, Inc. shares have risen nearly 6.24% since the year began. Nevertheless, the stocks have risen 49.71% over the past one year. While a 52-week high of $79.54 was reached on 04/01/24, a 52-week low of $41.12 was recorded on 02/07/24. SMA at 50 days reached $73.94, while 200 days put it at $63.08. A total of 0.56 million shares were traded, compared to the trading of 1.16 million shares in the previous session.
Levels Of Support And Resistance For EWBC Stock
The 24-hour chart illustrates a support level at 75.87, which if violated will result in even more drops to 75.31. On the upside, there is a resistance level at 76.86. A further resistance level may holdings at 77.28. The Relative Strength Index (RSI) on the 14-day chart is 53.22, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.98, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 57.67%. Stochastics %K at 26.95% indicates the stock is a holding.
How much short interest is there in East West Bancorp, Inc.?
A steep rise in short interest was recorded in East West Bancorp, Inc. stocks on Mar 15, 2024, growing by 0.82 million shares to a total of 5.17 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 4.35 million shares. There was a rise of 15.86%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 4.17% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.7.
