Cathay General Bancorp (NASDAQ:CATY) has earned a consensus rating of “Hold” from the ten ratings firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $45.13.
Several equities research analysts have commented on the stock. BidaskClub cut shares of Cathay General Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. ValuEngine raised shares of Cathay General Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. BMO Capital Markets boosted their price target on shares of Cathay General Bancorp to $51.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 31st. Keefe, Bruyette & Woods reissued a “hold” rating and set a $44.00 price target on shares of Cathay General Bancorp in a research report on Friday, December 22nd. Finally, Piper Jaffray reissued a “buy” rating and set a $51.00 price target on shares of Cathay General Bancorp in a research report on Tuesday, January 9th.
In other news, Vice Chairman Peter Wu sold 33,045 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $44.36, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kim R. Bingham sold 3,800 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $44.71, for a total transaction of $169,898.00. Following the transaction, the executive vice president now owns 21,803 shares in the company, valued at $974,812.13. The disclosure for this sale can be found here. Insiders have sold a total of 56,845 shares of company stock worth $2,474,174 over the last 90 days. 5.76% of the stock is owned by company insiders.
NASDAQ:CATY traded up $0.10 on Friday, hitting $39.98. 467,094 shares of the company’s stock were exchanged, compared to its average volume of 408,526. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.04 and a quick ratio of 1.04. Cathay General Bancorp has a 52 week low of $34.00 and a 52 week high of $45.59. The stock has a market capitalization of $3,243.10, a PE ratio of 16.25, a price-to-earnings-growth ratio of 1.59 and a beta of 1.38.
Cathay General Bancorp (NASDAQ:CATY) last issued its quarterly earnings results on Tuesday, January 30th. The bank reported $0.61 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.02). Cathay General Bancorp had a return on equity of 10.46% and a net margin of 28.74%. The business had revenue of $143.51 million for the quarter, compared to the consensus estimate of $139.43 million. During the same period last year, the firm earned $0.60 earnings per share. The company’s quarterly revenue was up 21.8% compared to the same quarter last year. analysts anticipate that Cathay General Bancorp will post 3.15 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 12th. Stockholders of record on Thursday, March 1st were paid a dividend of $0.24 per share. The ex-dividend date was Wednesday, February 28th. This represents a $0.96 annualized dividend and a dividend yield of 2.40%. Cathay General Bancorp’s dividend payout ratio is presently 39.02%.
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About Cathay General Bancorp
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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