The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. East West Bancorp, Inc. shares valued at $125,548 were sold by CAMPBELL MOLLY on Mar 07 ’24. At $77.26 per share, CAMPBELL MOLLY sold 1,625 shares. The insider’s holdings dropped to 10,321 shares worth approximately $0.76 million following the completion of this transaction.
Also, LIU JACK C sold 2,000 shares, netting a total of over 147,160 in proceeds. Following the sale of shares at $73.58 each, the insider now holds 16,739 shares.
Before that, LIU JACK C had sold 1,000 shares from its account. In a trade valued at $68,900, the Director traded East West Bancorp, Inc. shares for $68.90 each. Upon closing the transaction, the insider’s holdings decreased to 1,000 shares, worth approximately $1.38 million.
As published in their initiating research note from Barclays on March 08, 2024, East West Bancorp, Inc. [EWBC] has been an Overweight and the price target has been revised to $106. Analysts at Stephens started covering the stock with ‘”an Overweight”‘ outlook in a report released in early December. As of December 04, 2023, Morgan Stanley has increased its “an Equal-weight” rating to a “an Overweight” for EWBC. Earlier on December 01, 2023, Citigroup initiated its rating. Their recommendation was “a Buy” for EWBC stock.
Analyzing EWBC Stock Performance
During the last five days, there has been a drop of approximately -1.49%. Over the course of the year, East West Bancorp, Inc. shares have jumped approximately 2.67%. Shares of the company reached a 52-week high of $79.54 on 04/01/24 and a 52-week low of $67.27 on 02/07/24. A 50-day SMA is recorded $73.91, while a 200-day SMA reached $63.45. Nevertheless, trading volume fell to 0.52 million shares from 0.8 million shares the previous day.
Support And Resistance Levels for East West Bancorp, Inc. (EWBC)
According to the 24-hour chart, there is a support level at 73.14, which, if violated, would cause prices to drop to 72.40. In the upper region, resistance lies at 74.43. The next price resistance is at 74.98. RSI (Relative Strength Index) is 43.88 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.68, which suggests the price will decrease in the coming days. Percent R is at 86.17%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is East West Bancorp, Inc. subject to short interest?
Stocks of East West Bancorp, Inc. saw a sharp rise in short interest on Mar 28, 2024 jumping by 1.62 million shares to 6.03 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 4.41 million shares. A jump of 26.87% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.17 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.17.
