Somewhat Favorable News Coverage Somewhat Unlikely to Affect Cathay General Bancorp (CATY) Stock Price
Media coverage about Cathay General Bancorp (NASDAQ:CATY) has been trending somewhat positive this week, according to Accern Sentiment. The research firm identifies negative and positive media coverage by monitoring more than twenty million news and blog sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Cathay General Bancorp earned a news sentiment score of 0.12 on Accern’s scale. Accern also assigned headlines about the bank an impact score of 46.6399449551516 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
Here are some of the news headlines that may have impacted Accern’s rankings:
- Cathay General Bancorp (CATY) Announces Quarterly Dividend of $0.21 (americanbankingnews.com)
- Head-To-Head Review: Cathay General Bancorp (CATY) & Berkshire Hills Bancorp (BHLB) (americanbankingnews.com)
- Zacks: Analysts Anticipate Cathay General Bancorp (NASDAQ:CATY) Will Announce Quarterly Sales of $138.05 Million (americanbankingnews.com)
- BidaskClub Downgrades Cathay General Bancorp (CATY) to Strong Sell (americanbankingnews.com)
- $0.59 EPS Expected for Cathay General Bancorp (NASDAQ:CATY) This Quarter (americanbankingnews.com)
Several research firms have commented on CATY. BidaskClub cut shares of Cathay General Bancorp from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $37.00 target price on shares of Cathay General Bancorp in a research note on Tuesday, July 25th. Zacks Investment Research raised shares of Cathay General Bancorp from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research note on Friday, April 21st. Piper Jaffray Companies reissued a “buy” rating and set a $42.00 target price on shares of Cathay General Bancorp in a research note on Wednesday, July 12th. Finally, Wedbush reissued a “neutral” rating and set a $39.00 target price on shares of Cathay General Bancorp in a research note on Tuesday, June 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Cathay General Bancorp has a consensus rating of “Buy” and an average price target of $41.00.
Cathay General Bancorp (CATY) opened at 34.97 on Friday. The firm has a market cap of $2.83 billion, a PE ratio of 14.39 and a beta of 1.27. The stock has a 50 day moving average of $37.36 and a 200 day moving average of $37.74. Cathay General Bancorp has a 52 week low of $28.84 and a 52 week high of $40.83.
Cathay General Bancorp (NASDAQ:CATY) last posted its earnings results on Wednesday, July 19th. The bank reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.03. Cathay General Bancorp had a return on equity of 10.54% and a net margin of 35.30%. The business had revenue of $123.50 million during the quarter, compared to analysts’ expectations of $129.10 million. During the same period in the prior year, the business earned $0.44 EPS. Analysts anticipate that Cathay General Bancorp will post $2.44 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Friday, September 1st will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.40%. Cathay General Bancorp’s payout ratio is 34.57%.
In related news, Vice Chairman Anthony M. Tang sold 50,000 shares of the stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $38.01, for a total transaction of $1,900,500.00. Following the completion of the sale, the insider now directly owns 301,400 shares of the company’s stock, valued at approximately $11,456,214. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 5.76% of the stock is currently owned by corporate insiders.
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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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