Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. East West Bancorp, Inc. shares valued at $167,000 were sold by LIU JACK C on Aug 23 ’24. At $83.50 per share, LIU JACK C sold 2,000 shares. The insider’s holdings dropped to 16,557 shares worth approximately $1.61 million following the completion of this transaction.
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Also, LIU JACK C purchased 2,000 shares, netting a total of over 156,700 in proceeds.
Before that, Kim Lisa L. had sold 6,000 shares from its account. In a trade valued at $472,080, the Executive Vice President traded East West Bancorp, Inc. shares for $78.68 each. Upon closing the transaction, the insider’s holdings decreased to 6,000 shares, worth approximately $1.84 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 surge of approximately 4.43%. Over the course of the year, East West Bancorp, Inc. shares have jumped approximately 35.08%. Shares of the company reached a 52-week high of $98.95 on 10/23/24 and a 52-week low of $67.27 on 02/07/24. A 50-day SMA is recorded $83.58, while a 200-day SMA reached $77.07. Nevertheless, trading volume fell to 0.97 million shares from 0.93 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 95.38, which, if violated, would cause prices to drop to 93.57. In the upper region, resistance lies at 98.20. The next price resistance is at 99.20. RSI (Relative Strength Index) is 74.33 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 4.88, which suggests the price will increase in the coming days. Percent R is at 10.74%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
