Cathay General Bancorp Price Target Increased to $28.00 by Analysts at Sandler O’Neill (CATY)
Stock analysts at Sandler O’Neill hoisted their target price on shares of Cathay General Bancorp (NASDAQ:CATY) from $26.00 to $28.00 in a report issued on Wednesday, Analyst Ratings Network.com reports. The firm currently has a “buy” rating on the stock. Sandler O’Neill’s price objective points to a potential upside of 9.55% from the stock’s previous close.
Shares of Cathay General Bancorp (NASDAQ:CATY) opened at 25.56 on Wednesday. Cathay General Bancorp has a one year low of $16.20 and a one year high of $24.85. The stock has a 50-day moving average of $23. and a 200-day moving average of $21.11. The company has a market cap of $2.016 billion and a price-to-earnings ratio of 19.85.
Cathay General Bancorp (NASDAQ:CATY) last released its earnings data on Monday, October 21st. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.02. During the same quarter in the previous year, the company posted $0.33 earnings per share. On average, analysts predict that Cathay General Bancorp will post $1.43 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on CATY. Analysts at Keefe, Bruyette & Woods raised their price target on shares of Cathay General Bancorp from $22.50 to $23.50 in a research note to investors on Wednesday. They now have a “market perform” rating on the stock. Separately, analysts at DA Davidson raised their price target on shares of Cathay General Bancorp from $23.50 to $28.00 in a research note to investors on Wednesday. They now have a “neutral” rating on the stock. Finally, analysts at BMO Capital Markets downgraded shares of Cathay General Bancorp from an “outperform” rating to a “market perform” rating in a research note to investors on Tuesday, August 13th. They now have a $24.00 price target on the stock.
In other Cathay General Bancorp news, Director Ting Y. Liu sold 5,000 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $25.48, for a total value of $127,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Cathay General Bancorp is a holding company of Cathay Bank, a California state-chartered commercial bank (NASDAQ:CATY), six limited partnerships investing in affordable housing investments in which the Bank is the sole limited partner, and GBC Venture Capital, Inc The Bank owns 100% of the common stock of five statutory business trusts created for the purpose of issuing capital securities.
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