East West Bancorp’s recent earnings report exceeded expectations with increased net interest income and higher fee income.
The company’s stock price has seen a 7.60% increase, reflecting strong market confidence.
With a market capitalization of approximately $13.48 billion, EWBC demonstrates its significant value and size in the financial sector.
East West Bancorp (NASDAQ:EWBC) is a financial services company that provides a range of banking services. It operates primarily in the United States and China, offering services such as loans, deposits, and wealth management. The company competes with other financial institutions like Bank of America and Wells Fargo.
On October 23, 2024, Gary Tenner from D.A. Davidson set a price target of $107 for EWBC. At that time, the stock was trading at $96.78, suggesting a potential upside of 10.56%. This optimistic outlook aligns with the company’s strong third-quarter 2024 earnings performance.
East West Bancorp’s recent earnings report exceeded expectations, driven by increased net interest income, reduced expenses, and higher fee income. The company also saw growth in loans and deposits, which positively impacted its financial results. Following the earnings announcement, EWBC’s stock rose by 2.4%.
Currently, EWBC is priced at $97.25, reflecting a 7.60% increase with a change of $6.87. The stock has fluctuated between $94.93 and $98.95 today, with $98.95 marking its highest price over the past year. The lowest price in the past year was $51.40.
EWBC has a market capitalization of approximately $13.48 billion, indicating its size and value in the market. The trading volume today is 867,016 shares, showing active investor interest. The stock is listed on the NASDAQ exchange, where it competes with other major financial institutions.