Cathay General Bancorp (NASDAQ:CATY) COO Irwin Wong sold 6,059 shares of the firm’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $42.00, for a total transaction of $254,478.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Cathay General Bancorp (NASDAQ CATY) traded down $0.31 on Friday, reaching $41.92. 244,937 shares of the company’s stock traded hands, compared to its average volume of 389,772. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.37. The firm has a market cap of $3,413.03, a PE ratio of 16.96, a PEG ratio of 2.12 and a beta of 1.34. Cathay General Bancorp has a 52-week low of $34.00 and a 52-week high of $42.65.

Cathay General Bancorp (NASDAQ:CATY) last issued its quarterly earnings results on Wednesday, October 25th. The bank reported $0.61 EPS for the quarter, topping the consensus estimate of $0.60 by $0.01. Cathay General Bancorp had a net margin of 33.87% and a return on equity of 10.60%. The company had revenue of $146.20 million during the quarter, compared to analysts’ expectations of $135.27 million. During the same quarter in the previous year, the company earned $0.58 EPS. Cathay General Bancorp’s revenue was up 29.8% on a year-over-year basis. sell-side analysts expect that Cathay General Bancorp will post 2.49 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, December 1st will be given a dividend of $0.24 per share. This is a boost 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 2.29%. Cathay General Bancorp’s payout ratio is currently 34.15%.

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Several large investors have recently modified their holdings of the company. Alps Advisors Inc. grew its position in shares of Cathay General Bancorp by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 12,271 shares of the bank’s stock worth $466,000 after buying an additional 31 shares during the period. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC grew its position in shares of Cathay General Bancorp by 0.4% during the 2nd quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 14,626 shares of the bank’s stock worth $555,000 after buying an additional 52 shares during the period. Los Angeles Capital Management & Equity Research Inc. grew its position in shares of Cathay General Bancorp by 0.5% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 19,343 shares of the bank’s stock worth $734,000 after buying an additional 100 shares during the period. Teacher Retirement System of Texas grew its position in shares of Cathay General Bancorp by 1.7% during the 2nd quarter. Teacher Retirement System of Texas now owns 6,069 shares of the bank’s stock worth $230,000 after buying an additional 101 shares during the period. Finally, Pinebridge Investments L.P. grew its position in shares of Cathay General Bancorp by 0.6% during the 2nd quarter. Pinebridge Investments L.P. now owns 40,055 shares of the bank’s stock worth $1,521,000 after buying an additional 244 shares during the period. Institutional investors own 65.46% of the company’s stock.

Several research firms have weighed in on CATY. Zacks Investment Research cut shares of Cathay General Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st. BMO Capital Markets raised their price objective on shares of Cathay General Bancorp from $44.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, November 3rd. Royal Bank Of Canada raised their price objective on shares of Cathay General Bancorp from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, October 26th. Piper Jaffray Companies restated a “buy” rating and issued a $43.00 price objective on shares of Cathay General Bancorp in a research report on Friday, October 6th. Finally, BidaskClub cut shares of Cathay General Bancorp from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $42.14.

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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