Shares of Cathay General Bancorp (NASDAQ:CATY) have earned a consensus rating of “Buy” from the six research firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $41.00.

A number of brokerages have recently issued reports on CATY. BidaskClub lowered shares of Cathay General Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Zacks Investment Research lowered shares of Cathay General Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. Keefe, Bruyette & Woods set a $37.00 target price on shares of Cathay General Bancorp and gave the company a “hold” rating in a research note on Monday, May 22nd. Wedbush restated a “neutral” rating and issued a $39.00 target price on shares of Cathay General Bancorp in a research note on Tuesday, June 27th. Finally, Royal Bank Of Canada upped their target price on shares of Cathay General Bancorp from $35.00 to $43.00 and gave the company an “outperform” rating in a research note on Thursday.

Cathay General Bancorp (CATY) traded up 0.34% during mid-day trading on Monday, reaching $38.33. The company’s stock had a trading volume of 313,332 shares. The stock has a market capitalization of $3.06 billion, a P/E ratio of 15.77 and a beta of 1.28. The stock’s 50 day moving average price is $37.66 and its 200 day moving average price is $37.77. Cathay General Bancorp has a 1-year low of $28.84 and a 1-year high of $40.83.

Cathay General Bancorp (NASDAQ:CATY) last issued its earnings results on Wednesday, July 19th. The bank reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.03. The business had revenue of $123.50 million for the quarter, compared to analyst estimates of $129.10 million. Cathay General Bancorp had a net margin of 35.30% and a return on equity of 10.54%. During the same quarter in the prior year, the business posted $0.44 EPS. Analysts expect that Cathay General Bancorp will post $2.44 EPS for the current fiscal year.

In other news, Vice Chairman Anthony M. Tang sold 50,000 shares of the company’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $38.01, for a total value of $1,900,500.00. Following the sale, the insider now owns 301,400 shares in the company, valued at approximately $11,456,214. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 5.76% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the company. Northwestern Mutual Investment Management Company LLC raised its stake in Cathay General Bancorp by 0.9% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 12,898 shares of the bank’s stock valued at $486,000 after buying an additional 118 shares during the period. Advantus Capital Management Inc boosted its position in Cathay General Bancorp by 4.0% in the first quarter. Advantus Capital Management Inc now owns 9,582 shares of the bank’s stock valued at $361,000 after buying an additional 366 shares during the period. Oregon Public Employees Retirement Fund boosted its position in Cathay General Bancorp by 1.6% in the first quarter. Oregon Public Employees Retirement Fund now owns 26,117 shares of the bank’s stock valued at $984,000 after buying an additional 400 shares during the period. Liberty Mutual Group Asset Management Inc. boosted its position in Cathay General Bancorp by 1.2% in the first quarter. Liberty Mutual Group Asset Management Inc. now owns 33,936 shares of the bank’s stock valued at $1,279,000 after buying an additional 409 shares during the period. Finally, Metropolitan Life Insurance Co. NY boosted its position in Cathay General Bancorp by 0.4% in the first quarter. Metropolitan Life Insurance Co. NY now owns 117,996 shares of the bank’s stock valued at $4,446,000 after buying an additional 442 shares during the period. Hedge funds and other institutional investors own 68.08% of the company’s stock.

WARNING: “Cathay General Bancorp (CATY) Receives Average Recommendation of “Buy” from Analysts” was posted by American Banking News and is the property of of American Banking News. If you are reading this report on another domain, it was copied illegally and reposted in violation of United States & international copyright and trademark legislation. The original version of this report can be viewed at https://www.americanbankingnews.com/2017/07/24/cathay-general-bancorp-caty-receives-average-recommendation-of-buy-from-analysts.html.

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.

Receive News & Ratings for Cathay General Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cathay General Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.