Cathay General Bancorp (NASDAQ:CATY) EVP Sells $62,352.00 in Stock

Cathay General Bancorp (NASDAQ:CATY) EVP Albert Sun sold 960 shares of Cathay General Bancorp stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $64.95, for a total value of $62,352.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Cathay General Bancorp Stock Down 1.5%

Shares of NASDAQ:CATY opened at $64.40 on Friday. The firm has a 50 day simple moving average of $61.53 and a 200 day simple moving average of $57.39. Cathay General Bancorp has a 52 week low of $44.57 and a 52 week high of $65.82. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market cap of $4.30 billion, a PE ratio of 11.88 and a beta of 0.89.

Cathay General Bancorp (NASDAQ:CATY) last issued its quarterly earnings results on Wednesday, October 21st. The bank reported $1.43 earnings per share for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.02). Cathay General Bancorp had a net margin of 25.32% and a return on equity of 12.14%. The business had revenue of $230.55 million for the quarter, compared to analysts’ expectations of $227.45 million. During the same quarter in the prior year, the firm posted $1.13 EPS. As a group, research analysts expect that Cathay General Bancorp will post 5.52 earnings per share for the current year.

Cathay General Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 8th. Investors of record on Friday, August 28th were paid a $0.38 dividend. The ex-dividend date was Friday, August 28th. This represents a $1.52 dividend on an annualized basis and a yield of 2.4%. Cathay General Bancorp’s dividend payout ratio (DPR) is presently 28.04%.

Institutional Trading of Cathay General Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC grew its stake in shares of Cathay General Bancorp by 5.8% in the third quarter. GAMMA Investing LLC now owns 3,791 shares of the bank’s stock worth $226,000 after acquiring an additional 208 shares during the period. NewEdge Advisors LLC raised its stake in Cathay General Bancorp by 3.0% during the 1st quarter. NewEdge Advisors LLC now owns 8,068 shares of the bank’s stock valued at $402,000 after buying an additional 237 shares during the last quarter. Illinois Municipal Retirement Fund lifted its holdings in shares of Cathay General Bancorp by 1.2% during the 1st quarter. Illinois Municipal Retirement Fund now owns 36,078 shares of the bank’s stock valued at $1,799,000 after buying an additional 424 shares during the period. Integrated Wealth Concepts LLC bought a new position in shares of Cathay General Bancorp during the 2nd quarter valued at $30,000. Finally, Global Retirement Partners LLC bought a new position in Cathay General Bancorp in the second quarter valued at about $31,000. Institutional investors own 75.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CATY shares. Keefe, Bruyette & Woods increased their target price on Cathay General Bancorp from $64.00 to $67.00 and gave the stock a “market perform” rating in a report on Thursday, July 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cathay General Bancorp in a report on Friday, October 2nd. Zacks Research lowered shares of Cathay General Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 12th. DA Davidson raised their price objective on shares of Cathay General Bancorp from $56.00 to $66.00 and gave the stock a “neutral” rating in a report on Thursday, July 23rd. Finally, Benchmark raised Cathay General Bancorp to a “hold” rating in a report on Wednesday, September 23rd. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Cathay General Bancorp has a consensus rating of “Hold” and a consensus target price of $62.25.

Cathay General Bancorp Company Profile

Cathay General Bancorp is a bank holding company headquartered in Los Angeles, California. Its principal subsidiary, Cathay Bank, provides banking and financial services to individuals, families, businesses and institutions, with a particular focus on serving the Chinese American and broader communities in the markets where it operates.

Cathay Bank offers deposit accounts, residential and commercial real estate loans, commercial and industrial lending, small-business financing, consumer loans, treasury management and other traditional banking services.