This morning Pasadena, CA based regional bank East West Bancorp ( EWBC) reported second quarter earnings that saw the company swing to a profit.

FORBES: Price Might Be Right On East West Bancorp

At this point it seems to us that the market has awarded EWBC a growth premium that their management is not ready to pursue just yet.

FORBES: Price Might Be Right On East West Bancorp

According to the ETF Finder at ETF Channel, EWBC makes up 2.90% of the Dynamic Banking Portfolio ETF ( AMEX: PJB )which is trading relatively unchanged on the day Monday.

FORBES: East West Bancorp About To Put More Money In Your Pocket

For example, over the past ten years EWBC has traded for between 12.2x and 27.6x times cash earnings per share, but that multiple currently stands at 30.4x well above the historically normal range.

FORBES: Price Might Be Right On East West Bancorp

Among the largest underlying components of KBE, in trading today East West Bancorp, Inc ( NASD: EWBC) is down about 0.5%, KeyCorp ( NYSE: KEY) is trading flat, and Comerica, Inc. ( NYSE: CMA) is lower by about 1.3%.

FORBES: Notable ETF Outflow Detected - KBE, EWBC, KEY, CMA

Among the largest underlying components of KBE, in trading today East West Bancorp, Inc ( NASD: EWBC) is up about 0.1%, Fifth Third Bancorp ( NASD: FITB) is down about 0.1%, and KeyCorp ( NYSE: KEY) is up by about 0.5%.

FORBES: Notable ETF Outflow Detected - KBE, EWBC, FITB, KEY

Among the largest underlying components of KBE, in trading today East West Bancorp, Inc ( NASD: EWBC) is up about 0.2%, First Horizon National Corp ( NYSE: FHN) is off about 0.8%, and SunTrust Banks, Inc. ( NYSE: STI) is up by about 0.3%.

FORBES: SPDR S&P Bank ETF Experiences Big Outflow