Shares of Cathay General Bancorp (NASDAQ:CATY) traded up 5.8% during trading on Friday . The stock traded as high as $29.02 and last traded at $28.94, with a volume of 723,817 shares changing hands. The stock had previously closed at $27.35.

A number of research firms recently issued reports on CATY. BMO Capital Markets restated an “outperform” rating and set a $32.00 price objective (down previously from $33.00) on shares of Cathay General Bancorp in a report on Wednesday. Zacks Investment Research downgraded shares of Cathay General Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, June 21st. DA Davidson raised their price objective on shares of Cathay General Bancorp from $30.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday, April 21st. Finally, Sandler O’Neill downgraded shares of Cathay General Bancorp from a “buy” rating to a “hold” rating in a report on Friday, April 15th. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $33.20.

The firm has a 50-day moving average of $29.17 and a 200-day moving average of $28.82. The firm has a market capitalization of $2.26 billion and a PE ratio of 13.67.

Cathay General Bancorp (NASDAQ:CATY) last announced its earnings results on Wednesday, April 20th. The company reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.05. The business had revenue of $109.91 million for the quarter, compared to the consensus estimate of $109.84 million. During the same quarter last year, the firm posted $0.45 EPS. The business’s quarterly revenue was up 13.9% on a year-over-year basis. Analysts expect that Cathay General Bancorp will post $2.12 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, June 13th. Investors of record on Wednesday, June 1st were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date was Friday, May 27th.

A number of institutional investors have recently made changes to their positions in the company. ProShare Advisors LLC boosted its position in shares of Cathay General Bancorp by 15.7% in the fourth quarter. ProShare Advisors LLC now owns 33,362 shares of the company’s stock worth $1,045,000 after buying an additional 4,519 shares during the last quarter. Buckhead Capital Management LLC boosted its position in shares of Cathay General Bancorp by 0.7% in the fourth quarter. Buckhead Capital Management LLC now owns 38,356 shares of the company’s stock worth $1,202,000 after buying an additional 260 shares during the last quarter. Liberty Mutual Group Asset Management Inc. boosted its position in shares of Cathay General Bancorp by 51.4% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 49,528 shares of the company’s stock worth $1,553,000 after buying an additional 16,809 shares during the last quarter. Russell Frank Co boosted its position in shares of Cathay General Bancorp by 9.9% in the fourth quarter. Russell Frank Co now owns 56,535 shares of the company’s stock worth $1,801,000 after buying an additional 5,094 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its position in shares of Cathay General Bancorp by 13.7% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 68,676 shares of the company’s stock worth $2,152,000 after buying an additional 8,256 shares during the last quarter.

Cathay General Company is a bank holding company. The Company operates through Cathay Bank, a California state-chartered commercial bank (the Bank), seven limited partnerships investing in affordable housing investments in which the Bank is the sole limited partner, and GBC Venture Capital, Inc The Bank primarily services individuals, professionals and small to medium-sized businesses in the local markets in which its branches are located and provides commercial mortgage loans, commercial loans, residential mortgage loans, real estate construction loans, home equity lines of credit and installment loans to individuals.

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