Key Points
- EVP Thomas Lo sold 1,000 shares of Cathay General Bancorp at an average price of $50.23 on Jan. 29, cutting his position by 33.33% to 2,000 shares, according to an SEC filing.
- Cathay beat expectations for the quarter with $1.33 EPS (vs. $1.20 est.) and $222.8M in revenue, reporting a 22.76% net margin and 10.89% ROE.
- The bank pays a quarterly dividend of $0.34 ($1.36 annual, 2.6% yield) and currently holds a consensus "Hold" analyst rating with a $52.50 target; the stock trades in a 52-week range of $36.06–$54.99 and has a PE of 11.58.
Cathay General Bancorp (NASDAQ:CATY - Get Free Report) EVP Thomas Lo sold 1,000 shares of the company's stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $50.23, for a total value of $50,230.00. Following the sale, the executive vice president owned 2,000 shares in the company, valued at approximately $100,460. This trade represents a 33.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Cathay General Bancorp Stock Performance
Shares of CATY opened at $52.57 on Tuesday. Cathay General Bancorp has a 1 year low of $36.06 and a 1 year high of $54.99. The stock has a market capitalization of $3.58 billion, a PE ratio of 11.58 and a beta of 0.87. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.04 and a current ratio of 1.03. The stock has a 50-day simple moving average of $50.05 and a 200-day simple moving average of $48.48.
Cathay General Bancorp (NASDAQ:CATY - Get Free Report) last issued its earnings results on Thursday, January 22nd. The bank reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.13. Cathay General Bancorp had a net margin of 22.76% and a return on equity of 10.89%. The firm had revenue of $222.83 million for the quarter, compared to analysts' expectations of $211.76 million. During the same quarter last year, the company earned $1.12 earnings per share. On average, analysts predict that Cathay General Bancorp will post 4.47 earnings per share for the current fiscal year.
Cathay General Bancorp Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Monday, December 1st were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Monday, December 1st. Cathay General Bancorp's dividend payout ratio is 29.96%.
Institutional Investors Weigh In On Cathay General Bancorp
Several large investors have recently modified their holdings of the stock. Hantz Financial Services Inc. grew its position in Cathay General Bancorp by 5,438.5% in the 2nd quarter. Hantz Financial Services Inc. now owns 720 shares of the bank's stock valued at $33,000 after buying an additional 707 shares during the last quarter. Bessemer Group Inc. boosted its holdings in shares of Cathay General Bancorp by 101.8% in the third quarter. Bessemer Group Inc. now owns 781 shares of the bank's stock valued at $38,000 after acquiring an additional 394 shares in the last quarter. Salomon & Ludwin LLC acquired a new position in shares of Cathay General Bancorp during the third quarter worth about $43,000. Danske Bank A S purchased a new position in Cathay General Bancorp during the third quarter worth about $48,000. Finally, Torren Management LLC acquired a new stake in Cathay General Bancorp in the fourth quarter valued at about $76,000. Hedge funds and other institutional investors own 75.01% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on CATY shares. Wall Street Zen raised Cathay General Bancorp from a "sell" rating to a "hold" rating in a research report on Sunday, November 16th. DA Davidson lifted their target price on Cathay General Bancorp from $51.00 to $52.00 and gave the stock a "neutral" rating in a research report on Thursday, October 23rd. Keefe, Bruyette & Woods increased their price objective on Cathay General Bancorp from $53.00 to $55.00 and gave the company a "market perform" rating in a report on Wednesday, October 22nd. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Cathay General Bancorp in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $52.50.
Get Our Latest Stock Report on CATY
Cathay General Bancorp Company Profile
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Get Free Report)
Cathay General Bancorp is a bank holding company headquartered in Los Angeles, California, trading on NASDAQ under the symbol CATY. Its principal subsidiary, Cathay Bank, provides a full suite of financial services to commercial, institutional and retail clients. As a community-focused institution, the company emphasizes relationship banking and tailored solutions for businesses and individuals.
Founded in 1962 by a group of Chinese American entrepreneurs, Cathay has expanded from a single branch operation in downtown Los Angeles into one of the largest Asian-American banks in the United States.
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