Why East West Bancorp (EWBC) is a Top Momentum Stock for the Long-Term
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.
Is This 1 Momentum Stock a Screaming Buy Right Now?
Momentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
East West Bancorp (EWBC)
Headquartered in Pasadena, CA, East West Bancorp is the bank holding company for East West Bank. Incorporated in 1998, the company serves as a financial bridge between the United States and China by providing various consumer as well as commercial banking services to the Asian-American community.
EWBC boasts a Momentum Style Score of A and VGM Score of B, and holds a Zacks Rank #1 (Strong Buy) rating. Shares of East West Bancorp has seen some interesting price action recently; the stock is up 2.8% over the past one week and up 9.3% over the past four weeks. And in the last one-year period, EWBC has gained 0.9%. As for the stock's trading volume, 696,368.63 shares on average were traded over the last 20 days.
Momentum investors also pay close attention to a company's earnings. For EWBC, six analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.78 to $7.79 per share for 2022. EWBC boasts an average earnings surprise of 4.7%.
With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding EWBC to their portfolios.
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East West Bancorp, Inc. (EWBC) : Free Stock Analysis Report
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