Insider Selling: Cathay General Bancorp EVP Sells 16,180 Shares of Stock (CATY)
Cathay General Bancorp (NASDAQ:CATY) EVP Pin Tai sold 16,180 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $25.70, for a total transaction of $415,826.00. Following the completion of the sale, the executive vice president now directly owns 5,354 shares of the company’s stock, valued at approximately $137,598. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Cathay General Bancorp (NASDAQ:CATY) traded up 0.67% on Monday, hitting $25.73. The stock had a trading volume of 305,271 shares. Cathay General Bancorp has a 52 week low of $16.20 and a 52 week high of $24.85. The stock’s 50-day moving average is $23. and its 200-day moving average is $21.11. The company has a market cap of $2.030 billion and a P/E ratio of 19.22.
Cathay General Bancorp (NASDAQ:CATY) last released its earnings data on Monday, October 21st. The company reported $0.38 EPS for the quarter, beating the Thomson Reuters 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 analysts have recently weighed in on CATY shares. Analysts at BMO Capital Markets reiterated a “hold” rating on shares of Cathay General Bancorp in a research note to investors on Sunday. They now have a $24.00 price target on the stock. Separately, analysts at Sandler O’Neill raised their price target on shares of Cathay General Bancorp from $26.00 to $28.00 in a research note to investors on Wednesday, October 23rd. They now have a “buy” rating on the stock. Finally, 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, October 23rd. They now have a “market perform” rating on the stock.
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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