Short Interest in East West Bancorp Grows By 30.6% (EWBC)
East West Bancorp (NASDAQ:EWBC) was the recipient of a large increase in short interest during the month of April. As of April 30th, there was short interest totalling 1,331,226 shares, an increase of 30.6% from the April 15th total of 1,019,057 shares, AmericanBankingNews.com reports. Currently, 0.9% of the shares of the company are sold short. Based on an average daily trading volume, of 757,687 shares, the days-to-cover ratio is currently 1.8 days.
Several analysts have recently commented on the stock. Analysts at Deutsche Bank reiterated a “buy” rating on shares of East West Bancorp in a research note on Wednesday, April 30th. They now have a $40.00 price target on the stock, up previously from $38.00. Separately, analysts at Sterne Agee upgraded shares of East West Bancorp from a “neutral” rating to a “buy” rating in a research note on Monday, April 21st. They now have a $43.00 price target on the stock, up previously from $36.00. Finally, analysts at Sterne Agee upgraded shares of East West Bancorp from a “neutral” rating to a “buy” rating in a research note on Monday, April 21st. They now have a $43.00 price target on the stock. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. East West Bancorp has a consensus rating of “Buy” and a consensus target price of $35.68.
Shares of East West Bancorp (NASDAQ:EWBC) opened at 33.25 on Tuesday. East West Bancorp has a 52 week low of $25.33 and a 52 week high of $38.26. The stock has a 50-day moving average of $34.86 and a 200-day moving average of $34.80. The company has a market cap of $4.757 billion and a P/E ratio of 15.25.
East West Bancorp (NASDAQ:EWBC) last released its earnings data on Thursday, April 17th. The company reported $0.58 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.51 by $0.07. During the same quarter last year, the company posted $0.50 earnings per share. Analysts expect that East West Bancorp will post $2.32 EPS for the current fiscal year.
East West Bancorp, Inc (NASDAQ:EWBC) is a bank holding company.
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