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.

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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.

Dividend History for Cathay General Bancorp (NASDAQ:CATY)

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