Cathay General Bancorp (CATY) Vice Chairman Sells $1,465,876.20 in Stock

Cathay General Bancorp (NASDAQ:CATY) Vice Chairman Peter Wu sold 33,045 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $44.36, for a total value of $1,465,876.20. Following the transaction, the insider now directly owns 12,976 shares in the company, valued at approximately $575,615.36. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Shares of Cathay General Bancorp (NASDAQ CATY) traded up $0.14 on Tuesday, hitting $42.07. The company had a trading volume of 599,873 shares, compared to its average volume of 339,143. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.33. The stock has a market cap of $3,566.59, a price-to-earnings ratio of 19.23, a P/E/G ratio of 1.75 and a beta of 1.38. Cathay General Bancorp has a twelve month low of $34.00 and a twelve month high of $45.59.

Cathay General Bancorp (NASDAQ:CATY) last issued its earnings results on Tuesday, January 30th. The bank reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.02). The firm had revenue of $143.51 million during the quarter, compared to analysts’ expectations of $139.43 million. Cathay General Bancorp had a return on equity of 10.47% and a net margin of 28.74%. The company’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same period last year, the business posted $0.60 earnings per share. equities research analysts forecast that Cathay General Bancorp will post 3.15 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp raised its position in shares of Cathay General Bancorp by 6.3% in the 2nd quarter. State Street Corp now owns 3,810,885 shares of the bank’s stock worth $144,623,000 after buying an additional 227,348 shares during the period. Bank of New York Mellon Corp increased its holdings in Cathay General Bancorp by 0.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,469,247 shares of the bank’s stock valued at $59,065,000 after purchasing an additional 7,251 shares in the last quarter. Prudential Financial Inc. increased its holdings in Cathay General Bancorp by 4.6% in the 3rd quarter. Prudential Financial Inc. now owns 1,240,295 shares of the bank’s stock valued at $49,860,000 after purchasing an additional 54,780 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Cathay General Bancorp by 2.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 971,119 shares of the bank’s stock valued at $39,038,000 after purchasing an additional 23,732 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Cathay General Bancorp by 6.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 716,926 shares of the bank’s stock valued at $28,834,000 after purchasing an additional 40,412 shares in the last quarter. 67.79% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have weighed in on CATY. ValuEngine raised Cathay General Bancorp from a “hold” rating to a “buy” rating in a research note on Friday. BMO Capital Markets increased their price target on Cathay General Bancorp to $51.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 31st. BidaskClub lowered Cathay General Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $51.00 target price on shares of Cathay General Bancorp in a research report on Tuesday, January 9th. Finally, Zacks Investment Research raised Cathay General Bancorp from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research report on Friday, January 5th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $45.13.

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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.

Insider Buying and Selling by Quarter for Cathay General Bancorp (NASDAQ:CATY)

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