East West Bancorp (EWBC) is a Great Momentum Stock: Should You Buy?

Core Viewpoint - East West Bancorp (EWBC) is identified as a strong momentum stock with a Momentum Style Score of A and a Zacks Rank of 2 (Buy), indicating potential for near-term gains [3][12]. Price Performance - EWBC shares have increased by 2.32% over the past week, outperforming the Zacks Banks - West industry, which rose by only 0.08% during the same period [6]. - Over the last month, EWBC's price change is 5.86%, compared to the industry's 3.84% [6]. - In the past quarter, EWBC shares have risen by 18%, and over the last year, they have gained 36.34%, while the S&P 500 has only moved 8.78% and 20.41%, respectively [7]. Trading Volume - The average 20-day trading volume for EWBC is 751,808 shares, which serves as a useful baseline for price-to-volume analysis [8]. Earnings Estimates - In the last two months, 7 earnings estimates for EWBC have been revised upwards, with no downward revisions, leading to an increase in the consensus estimate from $8.87 to $9.03 [10]. - For the next fiscal year, 7 estimates have also moved upwards without any downward revisions [10]. Conclusion - Given the strong price performance, positive earnings revisions, and high Momentum Style Score, EWBC is positioned as a promising investment opportunity [12].