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 $360,255 were purchased by Kim Lisa L. on Nov 07 ’24. At $102.93 per share, Kim Lisa L. acquired 3,500 shares.
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Also, Estrada Rudolph sold 469 shares, netting a total of over 45,981 in proceeds. Following the sale of shares at $98.04 each, the insider now holds 17,750 shares.
Before that, CAMPBELL MOLLY had sold 1,500 shares from its account. In a trade valued at $147,975, the Director traded East West Bancorp, Inc shares for $98.65 each. Upon closing the transaction, the insider’s holdings decreased to 1,500 shares, worth approximately $1.08 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 4.31%. Over the course of the year, East West Bancorp, Inc shares have jumped approximately 41.33%. Shares of the company reached a 52-week high of $107.33 on 11/06/24 and a 52-week low of $67.27 on 02/07/24. A 50-day SMA is recorded $87.02, while a 200-day SMA reached $78.42. Nevertheless, trading volume fell to 1.7 million shares from 2.44 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 99.92, which, if violated, would cause prices to drop to 98.15. In the upper region, resistance lies at 104.91. The next price resistance is at 108.12. RSI (Relative Strength Index) is 64.05 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 4.95, which suggests the price will increase in the coming days. Percent R is at 29.62%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
