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.
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.
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