Cathay General Bancorp (CATY) Announces Quarterly Dividend of $0.21
Cathay General Bancorp (NASDAQ:CATY) announced a quarterly dividend on Thursday, August 17th, RTT News reports. Shareholders of record on Friday, September 1st will be paid a dividend of 0.21 per share by the bank on Monday, September 11th. This represents a $0.84 annualized dividend and a yield of 2.40%.
Shares of Cathay General Bancorp (CATY) traded down 2.62% during mid-day trading on Thursday, reaching $34.97. 587,700 shares of the company’s stock traded hands. The company has a market capitalization of $2.83 billion, a P/E ratio of 14.39 and a beta of 1.27. Cathay General Bancorp has a 1-year low of $28.84 and a 1-year high of $40.83. The firm has a 50-day moving average price of $37.36 and a 200-day moving average price of $37.74.
Cathay General Bancorp (NASDAQ:CATY) last posted its earnings results on Wednesday, July 19th. The bank reported $0.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.03. Cathay General Bancorp had a return on equity of 10.54% and a net margin of 35.30%. The firm had revenue of $123.50 million during the quarter, compared to analyst estimates of $129.10 million. During the same period in the previous year, the company earned $0.44 EPS. On average, equities research analysts forecast that Cathay General Bancorp will post $2.44 earnings per share for the current fiscal year.
Several equities research analysts recently weighed in on CATY shares. Zacks Investment Research upgraded Cathay General Bancorp from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a report on Friday, April 21st. Keefe, Bruyette & Woods set a $37.00 price target on Cathay General Bancorp and gave the stock a “hold” rating in a research report on Monday, May 22nd. BidaskClub raised Cathay General Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Wedbush reaffirmed a “neutral” rating and issued a $39.00 price target on shares of Cathay General Bancorp in a research report on Tuesday, June 27th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $42.00 price target on shares of Cathay General Bancorp in a research report on Wednesday, July 12th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $41.00.
In other news, Vice Chairman Anthony M. Tang sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $38.01, for a total transaction of $1,900,500.00. Following the sale, the insider now directly owns 301,400 shares in the company, valued at $11,456,214. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 5.76% of the company’s stock.
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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