Cathay General Bancorp (CATY) Receiving Somewhat Favorable Media Coverage, Study Shows
News stories about Cathay General Bancorp (NASDAQ:CATY) have been trending somewhat positive this week, Accern reports. Accern scores the sentiment of news coverage by reviewing more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Cathay General Bancorp earned a news impact score of 0.08 on Accern’s scale. Accern also gave media headlines about the bank an impact score of 46.3240753119389 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.
Here are some of the media headlines that may have impacted Accern Sentiment Analysis’s rankings:
- Analysts Anticipate Cathay General Bancorp (CATY) to Announce $0.63 Earnings Per Share (americanbankingnews.com)
- Cathay General Bancorp Hits 80-Plus Relative Strength Rating Benchmark (finance.yahoo.com)
- CATHAY GENERAL BANCORP : ex-dividend day (4-traders.com)
- Cathay General Bancorp (CATY) Cut to Market Perform at BMO Capital Markets (americanbankingnews.com)
- Insider Selling: Cathay General Bancorp (CATY) COO Sells 10,000 Shares of Stock (americanbankingnews.com)
Cathay General Bancorp (NASDAQ:CATY) traded up $0.15 during mid-day trading on Friday, reaching $43.54. The company’s stock had a trading volume of 564,101 shares, compared to its average volume of 384,820. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.37. Cathay General Bancorp has a 52 week low of $34.00 and a 52 week high of $45.54. The stock has a market cap of $3,518.90, a P/E ratio of 17.49, a PEG ratio of 2.19 and a beta of 1.34.
Cathay General Bancorp (NASDAQ:CATY) last posted its quarterly earnings data on Wednesday, October 25th. The bank reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.01. Cathay General Bancorp had a return on equity of 10.60% and a net margin of 33.87%. The company had revenue of $146.20 million for the quarter, compared to the consensus estimate of $135.27 million. During the same period in the previous year, the business earned $0.58 EPS. Cathay General Bancorp’s revenue for the quarter was up 29.8% compared to the same quarter last year. equities research analysts anticipate that Cathay General Bancorp will post 2.49 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, December 1st will be given a $0.24 dividend. This is a positive change from Cathay General Bancorp’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.96 annualized dividend and a dividend yield of 2.20%. Cathay General Bancorp’s dividend payout ratio (DPR) is presently 39.02%.
Several equities research analysts have issued reports on CATY shares. Zacks Investment Research upgraded Cathay General Bancorp from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a report on Monday, October 30th. Piper Jaffray Companies restated a “buy” rating and set a $43.00 price objective on shares of Cathay General Bancorp in a report on Friday, September 1st. BMO Capital Markets restated a “buy” rating and set a $44.00 price objective on shares of Cathay General Bancorp in a report on Thursday, October 5th. Finally, SunTrust Banks started coverage on Cathay General Bancorp in a report on Friday, August 18th. They set a “hold” rating and a $39.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. Cathay General Bancorp presently has an average rating of “Hold” and a consensus price target of $42.14.
In other news, COO Irwin Wong sold 6,059 shares of Cathay General Bancorp stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $42.00, for a total value of $254,478.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 5.76% of the stock is currently owned by company insiders.
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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