Cathay General Bancorp (NASDAQ:CATY) EVP Lisa L. Kim sold 3,745 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $34.70, for a total value of $129,951.50. Following the sale, the executive vice president now directly owns 3,288 shares of the company’s stock, valued at approximately $114,093.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
Shares of CATY traded up $0.23 during midday trading on Thursday, reaching $35.34. 369,845 shares of the stock were exchanged, compared to its average volume of 443,502. Cathay General Bancorp has a twelve month low of $31.89 and a twelve month high of $43.53. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.34. The company has a market cap of $2.73 billion, a P/E ratio of 10.58, a PEG ratio of 1.22 and a beta of 1.28. The stock’s 50 day simple moving average is $34.34 and its 200 day simple moving average is $35.38.
Cathay General Bancorp (NASDAQ:CATY) last posted its earnings results on Wednesday, July 17th. The bank reported $0.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.04. Cathay General Bancorp had a return on equity of 12.73% and a net margin of 34.86%. The company had revenue of $156.17 million during the quarter, compared to the consensus estimate of $154.13 million. During the same quarter last year, the firm earned $0.90 earnings per share. As a group, analysts predict that Cathay General Bancorp will post 3.5 earnings per share for the current year.
Several institutional investors and hedge funds have recently bought and sold shares of CATY. Principal Financial Group Inc. lifted its holdings in shares of Cathay General Bancorp by 107.5% during the first quarter. Principal Financial Group Inc. now owns 2,460,899 shares of the bank’s stock worth $83,449,000 after buying an additional 1,274,721 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of Cathay General Bancorp by 81.2% during the second quarter. Nuveen Asset Management LLC now owns 2,382,358 shares of the bank’s stock worth $85,550,000 after buying an additional 1,067,513 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Cathay General Bancorp by 5.6% during the second quarter. BlackRock Inc. now owns 11,010,837 shares of the bank’s stock worth $395,399,000 after buying an additional 588,789 shares in the last quarter. Ceredex Value Advisors LLC acquired a new stake in shares of Cathay General Bancorp during the first quarter worth $17,827,000. Finally, LSV Asset Management lifted its holdings in shares of Cathay General Bancorp by 15.6% during the second quarter. LSV Asset Management now owns 1,384,125 shares of the bank’s stock worth $49,703,000 after buying an additional 186,579 shares in the last quarter. 71.61% of the stock is owned by institutional investors.
Several brokerages have issued reports on CATY. Piper Jaffray Companies set a $44.00 price target on Cathay General Bancorp and gave the company a “buy” rating in a report on Monday, July 8th. BidaskClub raised Cathay General Bancorp from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Zacks Investment Research downgraded Cathay General Bancorp from a “buy” rating to a “hold” rating in a report on Monday, July 1st.
About Cathay General Bancorp
Cathay General Bancorp operates as the holding company for Cathay Bank that offers various commercial banking products and services to individuals, professionals, and small to medium-sized businesses in the United States. The company offers various deposit products, including passbook accounts, checking accounts, money market deposit accounts, certificates of deposit, individual retirement accounts, and public funds deposits.
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