Cathay General Bancorp (NASDAQ:CATY) EVP Albert Sun Sells 960 Shares of Stock

Cathay General Bancorp (NASDAQ:CATY) EVP Albert Sun sold 960 shares of the business’s stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $64.95, for a total value of $62,352.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Cathay General Bancorp Stock Down 0.0%

NASDAQ CATY opened at $64.66 on Thursday. The business has a fifty day moving average price of $61.43 and a 200 day moving average price of $57.24. Cathay General Bancorp has a one year low of $44.57 and a one year high of $65.25. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market cap of $4.31 billion, a P/E ratio of 11.93 and a beta of 0.89.

Cathay General Bancorp (NASDAQ:CATY) last announced its earnings results on Wednesday, October 21st. The bank reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.45 by ($0.02). Cathay General Bancorp had a return on equity of 12.14% and a net margin of 25.32%. The business had revenue of $230.55 million for the quarter, compared to analyst estimates of $227.45 million. During the same period last year, the firm earned $1.13 EPS. Research analysts anticipate that Cathay General Bancorp will post 5.52 EPS for the current fiscal year.

Cathay General Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 8th. Stockholders of record on Friday, August 28th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Friday, August 28th. Cathay General Bancorp’s dividend payout ratio (DPR) is currently 28.04%.

Institutional Trading of Cathay General Bancorp

Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in Cathay General Bancorp in the 2nd quarter valued at about $604,644,000. Dimensional Fund Advisors LP grew its stake in shares of Cathay General Bancorp by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,050,007 shares of the bank’s stock valued at $201,930,000 after buying an additional 17,444 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Cathay General Bancorp in the 2nd quarter valued at approximately $40,799,000. William Blair Investment Management LLC acquired a new stake in shares of Cathay General Bancorp during the 2nd quarter worth approximately $26,052,000. Finally, Bank of America Corp DE acquired a new position in Cathay General Bancorp in the second quarter valued at approximately $25,450,000. 75.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CATY shares. Stephens boosted their price target on shares of Cathay General Bancorp from $56.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 23rd. DA Davidson increased their price objective on shares of Cathay General Bancorp from $56.00 to $66.00 and gave the company a “neutral” rating in a report on Thursday, July 23rd. Benchmark upgraded shares of Cathay General Bancorp to a “hold” rating in a report on Wednesday, September 23rd. Keefe, Bruyette & Woods raised their target price on shares of Cathay General Bancorp from $64.00 to $67.00 and gave the stock a “market perform” rating in a research note on Thursday, July 23rd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Cathay General Bancorp in a report on Friday, October 2nd. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Cathay General Bancorp currently has a consensus rating of “Hold” and a consensus price target of $62.25.

About Cathay General Bancorp

Cathay General Bancorp is a bank holding company headquartered in Los Angeles, California. Its principal subsidiary, Cathay Bank, provides banking and financial services to individuals, families, businesses and institutions, with a particular focus on serving the Chinese American and broader communities in the markets where it operates.

Cathay Bank offers deposit accounts, residential and commercial real estate loans, commercial and industrial lending, small-business financing, consumer loans, treasury management and other traditional banking services.