East West Bancorp (EWBC) has risen sharply, recording gains of 3.46% in the past 4 weeks. However, the stock has corrected -2.42% in the past 1 week, providing a good buying opportunity on dips. East West Bancorp (EWBC) : During the past 4 weeks, traders have been relatively bearish on East West Bancorp (EWBC), hence the stock is down -3.09% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -3.02% relative to the S&P 500.
East West Bancorp (NASDAQ:EWBC): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $34.77 and $34.48 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $35.23. The buying momentum continued till the end and the stock did not give up its gains. It closed at $35.03, notching a gain of 1.83% for the day. The total traded volume was 982,873 . The stock had closed at $34.40 on the previous day.
The stock has recorded a 20-day Moving Average of 2.16% and the 50-Day Moving Average is 2.7%. East West Bancorp, Inc. has dropped 8.05% during the last 3-month period . Year-to-Date the stock performance stands at -14.76%.
East West Bancorp, Inc. (East West) is a bank holding company. East Wests principal business is to serve as a holding company for East West Bank (Bank) and other banking or banking-related subsidiaries. The Bank offers deposit products, including the traditional range of personal and business checking and savings accounts, time deposits and individual retirement accounts, travelers checks, safe deposit boxes, and MasterCard and Visa merchant deposit services. The Banks lending activities include commercial and residential real estate, construction, trade finance, and commercial business, including accounts receivable, small business administration (SBA), inventory and working capital loans. The Bank provides commercial business loans to small and medium-sized businesses. In addition, the Bank is focused on providing financing to clients needing a financial bridge that facilitates their business transactions between Asia and the United States.