Somewhat Critical News Coverage Very Likely to Affect East West Bancorp (EWBC) Share Price
News articles about East West Bancorp (NASDAQ:EWBC) have been trending somewhat negative this week, according to Alpha One. The research group, a service of Accern, identifies negative and positive press coverage by reviewing more than twenty million news and blog sources. Alpha One ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. East West Bancorp earned a media sentiment score of -0.06 on Alpha One’s scale. Alpha One also assigned news coverage about the financial services provider an impact score of 81 out of 100, meaning that recent press coverage is very likely to have an effect on the stock’s share price in the next several days.
Here are some of the news articles that may have effected AlphaOne Sentiment Analysis’s rankings:
- East West Bancorp, Inc. (EWBC) Expected to Announce Quarterly Sales of $329.30 Million (americanbankingnews.com)
- Tech Rout Shifts Spotlight from Growth to Value: 5 Top Picks (finance.yahoo.com)
- East West Bancorp, Inc. (NASDAQ:EWBC) Trading Down – Short Interest Up by 47.79% (highlightpress.com)
- East West Bancorp, Inc. (EWBC) Upgraded to “Buy” at BidaskClub (americanbankingnews.com)
- Brokerages Anticipate East West Bancorp, Inc. (EWBC) Will Post Earnings of $0.81 Per Share (americanbankingnews.com)
Shares of East West Bancorp (EWBC) traded up 0.37% during mid-day trading on Friday, reaching $59.15. The company’s stock had a trading volume of 2,244,723 shares. East West Bancorp has a 12 month low of $31.34 and a 12 month high of $59.78. The company has a 50 day moving average price of $55.68 and a 200 day moving average price of $52.86. The stock has a market capitalization of $8.54 billion, a P/E ratio of 17.44 and a beta of 1.42.
East West Bancorp (NASDAQ:EWBC) last released its earnings results on Wednesday, April 19th. The financial services provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.14. East West Bancorp had a return on equity of 13.24% and a net margin of 34.72%. The business had revenue of $388.15 million for the quarter, compared to the consensus estimate of $314.52 million. During the same period last year, the business earned $0.71 earnings per share. On average, equities research analysts anticipate that East West Bancorp will post $3.69 earnings per share for the current fiscal year.
Several equities research analysts have recently weighed in on the company. BidaskClub raised East West Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday. Zacks Investment Research raised East West Bancorp from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research report on Tuesday, June 6th. Morgan Stanley boosted their price target on East West Bancorp from $57.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 6th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $57.00 price target on shares of East West Bancorp in a research note on Monday, May 22nd. Finally, Barclays PLC reiterated an “overweight” rating and issued a $63.00 price target (up previously from $61.00) on shares of East West Bancorp in a research note on Sunday, April 23rd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $58.57.
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In other East West Bancorp news, Director Jack C. Liu sold 1,123 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $59.00, for a total transaction of $66,257.00. Following the completion of the transaction, the director now owns 23,669 shares in the company, valued at $1,396,471. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Herman Y. Li sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, April 25th. The stock was sold at an average price of $56.75, for a total transaction of $227,000.00. Following the transaction, the director now owns 48,000 shares of the company’s stock, valued at approximately $2,724,000. The disclosure for this sale can be found here. Over the last three months, insiders have sold 162,713 shares of company stock worth $8,560,964. 0.88% of the stock is owned by company insiders.
About East West Bancorp
East West Bancorp, Inc is a bank holding company. The Company’s principal business is to serve as a holding company for East West Bank (the Bank) and other banking or banking-related subsidiaries. The Bank is a California state-chartered bank, which operates in the United States and Greater China. The Bank provides a range of personal and commercial banking services to businesses, business executives, professionals, and other individuals.
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