Market Analysts see East West Bancorp Inc. [EWBC] falling to $80. Time to buy?

East West Bancorp Inc. [NASDAQ: EWBC] closed the trading session at $72.72 on 07/22/21. The day’s price range saw the stock hit a low of $69.00, while the highest price level was $73.65. The company report on July 22, 2021 that East West Bancorp Reports Net Income for Second Quarter 2021 of $225 Million and Diluted Earnings Per Share Of $1.57.

East West Bancorp, Inc. (“East West” or the “Company”) (Nasdaq: EWBC), parent company of East West Bank, reported its financial results for the second quarter of 2021. Net income for the second quarter of 2021 was $224.7 million, or $1.57 per diluted share. Second quarter 2021 return on average assets was 1.56% and return on average equity was 16.6%.

“East West had a very strong quarter of robust growth, expanding profitability and improving asset quality,” stated Dominic Ng, Chairman and Chief Executive Officer of East West. “As of June 30, 2021, our total loans reached a record $40.1 billion and our total deposits reached a record $52.6 billion.”.

The stocks have a year to date performance of 43.40 percent and weekly performance of 2.49 percent. The stock has been moved at 18.88 percent over the last six months. The stock has performed 3.57 percent around the most recent 30 days and changed -0.95 percent over the most recent 3-months.

If compared to the average trading volume of 785.36K shares, EWBC reached to a volume of 1944572 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about East West Bancorp Inc. [EWBC]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for EWBC shares is $87.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on EWBC stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Truist have made an estimate for East West Bancorp Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 21, 2021. The new note on the price target was released on March 30, 2021, representing the official price target for East West Bancorp Inc. stock. Previously, the target price had yet another raise to $89, while Jefferies analysts kept a Buy rating on EWBC stock.

The Average True Range (ATR) for East West Bancorp Inc. is set at 2.65, with the Price to Sales ratio for EWBC stock in the period of the last 12 months amounting to 6.91. The Price to Book ratio for the last quarter was 1.95, with the Price to Cash per share for the same quarter was set at 52.41. Price to Free Cash Flow for EWBC in the course of the last twelve months was 13.11.

EWBC stock trade performance evaluation

East West Bancorp Inc. [EWBC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.49. With this latest performance, EWBC shares gained by 3.57% in over the last four-week period, additionally plugging by 18.88% over the last 6 months – not to mention a rise of 105.66% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for EWBC stock in for the last two-week period is set at 54.01, with the RSI for the last a single of trading hit 57.80, and the three-weeks RSI is set at 52.00 for East West Bancorp Inc. [EWBC]. The present Moving Average for the last 50 days of trading for this stock 72.61, while it was recorded at 69.49 for the last single week of trading, and 62.55 for the last 200 days.

East West Bancorp Inc. [EWBC]: An insightful look at the core fundamentals

Earnings per share (EPS) analysis for East West Bancorp Inc. [EWBC] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for EWBC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for East West Bancorp Inc. go to 8.00%.

East West Bancorp Inc. [EWBC]: Insider Ownership positions

There are presently around $9,205 million, or 90.20% of EWBC stock, in the hands of institutional investors. The top three institutional holders of EWBC stocks are: VANGUARD GROUP INC with ownership of 13,508,337, which is approximately 2.841% of the company’s market cap and around 0.70% of the total institutional ownership; BLACKROCK INC., holding 12,394,834 shares of the stock with an approximate value of $901.35 million in EWBC stocks shares; and ARISTOTLE CAPITAL MANAGEMENT, LLC, currently with $815.96 million in EWBC stock with ownership of nearly 4.396% of the company’s market capitalization.

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180 institutional holders increased their position in East West Bancorp Inc. [NASDAQ:EWBC] by around 11,514,415 shares. Additionally, 173 investors decreased positions by around 12,434,301 shares, while 45 investors held positions by with 102,635,222 shares. The mentioned changes placed institutional holdings at 126,583,938 shares, according to the latest SEC report filing. EWBC stock had 71 new institutional investments in for a total of 2,766,876 shares, while 31 institutional investors sold positions of 630,084 shares during the same period.

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