Cathay General Bancorp (NASDAQ:CATY) Vice Chairman Sells $342,947.45 in Stock

Cathay General Bancorp (NASDAQ:CATY) Vice Chairman Peter Wu sold 7,289 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $47.05, for a total value of $342,947.45. Following the sale, the insider now owns 347,963 shares of the company’s stock, valued at approximately $16,371,659.15. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Cathay General Bancorp Price Performance

Shares of CATY opened at $45.93 on Friday. The firm has a market cap of $3.31 billion, a price-to-earnings ratio of 11.57 and a beta of 1.11. The stock has a 50 day moving average of $43.67 and a 200-day moving average of $40.18. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.07. Cathay General Bancorp has a 52 week low of $33.88 and a 52 week high of $47.65.

Cathay General Bancorp (NASDAQ:CATY) last issued its earnings results on Monday, October 21st. The bank reported $0.94 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.01). The firm had revenue of $359.86 million during the quarter, compared to analyst estimates of $182.70 million. Cathay General Bancorp had a return on equity of 11.30% and a net margin of 20.57%. During the same quarter in the previous year, the business posted $1.13 EPS. As a group, analysts forecast that Cathay General Bancorp will post 3.98 EPS for the current year.

Cathay General Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Thursday, August 29th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.96%. The ex-dividend date was Thursday, August 29th. Cathay General Bancorp’s dividend payout ratio (DPR) is 34.26%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CATY. Piper Sandler raised their price objective on Cathay General Bancorp from $32.00 to $36.00 and gave the company an “underweight” rating in a research note on Tuesday, July 23rd. StockNews.com upgraded Cathay General Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, July 19th. Wedbush raised their price objective on Cathay General Bancorp from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Truist Financial lifted their target price on Cathay General Bancorp from $45.00 to $47.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Cathay General Bancorp has a consensus rating of “Hold” and a consensus target price of $44.00.

Institutional Trading of Cathay General Bancorp

Hedge funds have recently made changes to their positions in the stock. Quarry LP lifted its holdings in shares of Cathay General Bancorp by 76.3% in the 2nd quarter. Quarry LP now owns 765 shares of the bank’s stock worth $29,000 after purchasing an additional 331 shares during the last quarter. Quest Partners LLC bought a new stake in shares of Cathay General Bancorp in the 2nd quarter worth approximately $40,000. CWM LLC lifted its holdings in shares of Cathay General Bancorp by 168.6% in the 2nd quarter. CWM LLC now owns 1,265 shares of the bank’s stock worth $48,000 after purchasing an additional 794 shares during the last quarter. GAMMA Investing LLC raised its stake in Cathay General Bancorp by 24.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,531 shares of the bank’s stock valued at $66,000 after acquiring an additional 305 shares in the last quarter. Finally, Bessemer Group Inc. raised its stake in Cathay General Bancorp by 16.6% during the 1st quarter. Bessemer Group Inc. now owns 3,675 shares of the bank’s stock valued at $139,000 after acquiring an additional 523 shares in the last quarter. Institutional investors own 75.01% of the company’s stock.

Cathay General Bancorp Company Profile

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.