Cathay General Bancorp (NASDAQ:CATY) COO Irwin Wong sold 6,059 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $42.00, for a total value of $254,478.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Irwin Wong also recently made the following trade(s):
- On Tuesday, November 28th, Irwin Wong sold 10,000 shares of Cathay General Bancorp stock. The stock was sold at an average price of $43.10, for a total value of $431,000.00.
Shares of Cathay General Bancorp (CATY) traded up $0.29 during trading on Thursday, hitting $43.09. The company had a trading volume of 248,218 shares, compared to its average volume of 394,727. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.05 and a quick ratio of 1.05. Cathay General Bancorp has a 1 year low of $34.00 and a 1 year high of $45.54. The firm has a market cap of $3,464.75, a P/E ratio of 17.22, a P/E/G ratio of 2.15 and a beta of 1.34.
Cathay General Bancorp (NASDAQ:CATY) last issued its quarterly earnings data on Wednesday, October 25th. The bank reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.01. Cathay General Bancorp had a return on equity of 10.60% and a net margin of 33.87%. The firm had revenue of $146.20 million during the quarter, compared to the consensus estimate of $135.27 million. During the same period in the previous year, the firm posted $0.58 EPS. The company’s quarterly revenue was up 29.8% compared to the same quarter last year. equities research analysts expect that Cathay General Bancorp will post 2.49 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, December 1st will be issued a $0.24 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This is an increase from Cathay General Bancorp’s previous quarterly dividend of $0.21. This represents a $0.96 annualized dividend and a yield of 2.23%. Cathay General Bancorp’s payout ratio is 39.02%.
Several brokerages have recently commented on CATY. BMO Capital Markets lowered Cathay General Bancorp from an “outperform” rating to a “market perform” rating and set a $45.00 price target on the stock. in a research note on Thursday, November 30th. Zacks Investment Research lowered Cathay General Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Royal Bank Of Canada boosted their price target on Cathay General Bancorp from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, October 26th. Piper Jaffray Companies restated a “buy” rating and set a $43.00 price objective on shares of Cathay General Bancorp in a research report on Friday, October 6th. Finally, BidaskClub downgraded Cathay General Bancorp from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. Cathay General Bancorp currently has an average rating of “Hold” and an average price target of $42.14.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Alps Advisors Inc. raised its holdings in Cathay General Bancorp by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 12,271 shares of the bank’s stock valued at $466,000 after acquiring an additional 31 shares during the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its holdings in Cathay General Bancorp by 0.4% in the 2nd quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 14,626 shares of the bank’s stock valued at $555,000 after acquiring an additional 52 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its holdings in Cathay General Bancorp by 0.5% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 19,343 shares of the bank’s stock valued at $734,000 after acquiring an additional 100 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in Cathay General Bancorp by 1.7% in the 2nd quarter. Teacher Retirement System of Texas now owns 6,069 shares of the bank’s stock valued at $230,000 after acquiring an additional 101 shares during the last quarter. Finally, Pinebridge Investments L.P. raised its holdings in Cathay General Bancorp by 0.6% in the 2nd quarter. Pinebridge Investments L.P. now owns 40,055 shares of the bank’s stock valued at $1,521,000 after acquiring an additional 244 shares during the last quarter. Institutional investors own 67.60% of the company’s stock.
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Cathay General Bancorp Company Profile
Cathay General Bancorp is a bank holding company. The Company holds Cathay Bank, a California state-chartered commercial bank (the Bank); seven limited partnerships investing in affordable housing investments; GBC Venture Capital, Inc, and Asia Realty Corp. The Company also owns the common stock of five statutory business trusts created for issuing capital securities.
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