Cathay General Bancorp (CATY) Insider Dunson K. Cheng Sells 20,000 Shares

Cathay General Bancorp (NASDAQ:CATY) insider Dunson K. Cheng sold 20,000 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $41.92, for a total value of $838,400.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Shares of Cathay General Bancorp (NASDAQ:CATY) traded up $0.95 during mid-day trading on Thursday, hitting $42.75. The company’s stock had a trading volume of 246,900 shares, compared to its average volume of 338,116. Cathay General Bancorp has a twelve month low of $34.00 and a twelve month high of $45.59. The stock has a market cap of $3,381.34, a PE ratio of 19.61, a price-to-earnings-growth ratio of 1.66 and a beta of 1.38. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.33.

Cathay General Bancorp (NASDAQ:CATY) last issued its earnings results on Tuesday, January 30th. The bank reported $0.61 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by ($0.02). Cathay General Bancorp had a return on equity of 10.47% and a net margin of 28.74%. The firm had revenue of $143.51 million during the quarter, compared to analysts’ expectations of $139.43 million. During the same quarter in the prior year, the company posted $0.60 earnings per share. Cathay General Bancorp’s quarterly revenue was up 21.8% compared to the same quarter last year. analysts forecast that Cathay General Bancorp will post 3.15 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of CATY. Parametric Portfolio Associates LLC lifted its holdings in shares of Cathay General Bancorp by 11.1% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 127,354 shares of the bank’s stock worth $4,833,000 after buying an additional 12,696 shares during the period. OxFORD Asset Management LLP lifted its holdings in shares of Cathay General Bancorp by 84.2% in the 2nd quarter. OxFORD Asset Management LLP now owns 10,957 shares of the bank’s stock worth $416,000 after buying an additional 5,009 shares during the period. Voya Investment Management LLC lifted its holdings in shares of Cathay General Bancorp by 11.2% in the 2nd quarter. Voya Investment Management LLC now owns 31,643 shares of the bank’s stock worth $1,201,000 after buying an additional 3,191 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Cathay General Bancorp by 18.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 308,523 shares of the bank’s stock worth $11,709,000 after buying an additional 47,398 shares during the period. Finally, Royal Bank of Canada lifted its holdings in shares of Cathay General Bancorp by 1.5% in the 2nd quarter. Royal Bank of Canada now owns 82,855 shares of the bank’s stock worth $3,143,000 after buying an additional 1,244 shares during the period. Institutional investors and hedge funds own 67.66% of the company’s stock.

A number of equities analysts recently issued reports on the company. ValuEngine upgraded Cathay General Bancorp from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. BMO Capital Markets boosted their price objective on Cathay General Bancorp to $51.00 and gave the company a “market perform” rating in a report on Wednesday, January 31st. BidaskClub cut Cathay General Bancorp from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Piper Jaffray Companies restated a “buy” rating and set a $51.00 price objective on shares of Cathay General Bancorp in a report on Tuesday, January 9th. Finally, Zacks Investment Research upgraded Cathay General Bancorp from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a report on Friday, January 5th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Cathay General Bancorp presently has an average rating of “Hold” and a consensus target price of $45.13.

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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.

Insider Buying and Selling by Quarter for Cathay General Bancorp (NASDAQ:CATY)

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