East West Bancorp, Inc. (EWBC): More Irrationality?

The stock of East West Bancorp, Inc. (NASDAQ:EWBC) has been Upgraded to Mkt Perform from Underperform by Raymond James in its latest research note that was published on August 29. BMO Capital Markets analysts have downgraded their rating of EWBC stock from Outperform to Market Perform in a separate flash note to investors on August 19. Analysts at Raymond James downgraded the stock to a Underperform call from its previous Mkt Perform stance, in a research note that dated back to July 08.

East West Bancorp, Inc., which has current market capitalization of above $7 Billion, published its last quarter earnings on June 30, 2019.

EWBC surged by $0.19 during the normal trading session on Thursday and reaching a high of $46.34 during the day while it closed the day at $45.79. The East stock had a high trading volume of 1.38 million shares on that day, which is high compared to the average daily volume of 1.03M shares. EWBC has also gained 8.56% of its value over the past 7 days. However, the stock has surged by 4.64% in the 3 months of the year. Over the past six months meanwhile, it has lost 13.18% while it has added 5.19% year-on date. Let us now take a look at the stock’s potential support and resistance levels. The publicly traded company was seen to have slipped by -6.9% from its 3 months high price. However, taking another look at EWBC will indicate that it is trading +21.51% away from its 90-day low. Looking at the bigger picture, the East West Bancorp, Inc. stock has dropped by -28.5% from its 52-week high while it has surged by +21.51% from its 52-week low price.

On September 03, 2019 Zhou Catherine, Executive Vice President bought 2512 shares of the company. The average price for that transaction was $39.82 per share, which meant that Zhou Catherine spent $100027.8 purchasing the stocks. The purchase was made public, with the document of the transaction filed with the SEC. Another insider trading occurred, with CEO, NG DOMINIC purchasing 25840 shares of this stock on August 29, 2019. The average purchasing price for the stock was $38.71 per share, with the purchased stock accruing $1000266. Following this transaction, the CEO NG DOMINIC now holds 542159 shares of the company, which is worth around $25020638.

Looking at the stock’s Technical analysis information over the past 50 days shows that its Raw Stochastic average stood at 70.48%. This figure is worse than the company’s 20-day Raw Stochastic average which currently stands at 91.95%. Over the past 20 days, East’s Stochastic %K stood at 95.81% while its Stochastic %D was revealed to be 95.8%.