East West Bancorp (EWBC) has been under a strong bear grip, hence the stock is down -2.54% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 0.59% in the past 1 week. The stock has risen by 0.56% in the past week indicating that the buyers are active at lower levels, but the stock is down -2.17% in the past 4 weeks.
East West Bancorp, Inc. has dropped 8.18% during the last 3-month period . Year-to-Date the stock performance stands at -16.12%. The stock has recorded a 20-day Moving Average of 0.21% and the 50-Day Moving Average is 0.82%.
East West Bancorp (NASDAQ:EWBC): The stock opened at $34.30 on Friday but the bulls could not build on the opening and the stock topped out at $34.41 for the day. The stock traded down to $34.15 during the day, due to lack of any buying support eventually closed down at $34.27 with a loss of -0.49% for the day. The stock had closed at $34.44 on the previous day. The total traded volume was 809,180 shares.
Also, In the latest statement by the brokerage house, Macquarie upgrades its outlook on East West Bancorp (NASDAQ:EWBC). The current rating of the shares is Outperform, according to the research report released by the firm. Previously, the company had a rating of Neutral. The rating by the firm was issued on July 22, 2016.
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.