Cathay General Bancorp (CATY) Vice Chairman Peter Wu Sells 33,045 Shares
Cathay General Bancorp (NASDAQ:CATY) Vice Chairman Peter Wu sold 33,045 shares of Cathay General Bancorp stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $44.36, for a total transaction of $1,465,876.20. Following the transaction, the insider now directly owns 12,976 shares in the company, valued at approximately $575,615.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Cathay General Bancorp (NASDAQ:CATY) opened at $42.07 on Wednesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.33. The company has a market cap of $3,391.86, a P/E ratio of 19.30, a P/E/G ratio of 1.66 and a beta of 1.38. Cathay General Bancorp has a 1-year low of $34.00 and a 1-year high of $45.59.
Cathay General Bancorp (NASDAQ:CATY) last released its quarterly earnings data on Tuesday, January 30th. The bank reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.02). Cathay General Bancorp had a net margin of 28.74% and a return on equity of 10.47%. The business 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 firm posted $0.60 earnings per share. The firm’s quarterly revenue was up 21.8% on a year-over-year basis. analysts expect that Cathay General Bancorp will post 3.15 earnings per share for the current fiscal year.
CATY has been the topic of a number of research reports. ValuEngine raised shares of Cathay General Bancorp from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. BMO Capital Markets lifted their price target on shares of Cathay General Bancorp to $51.00 and gave the stock a “market perform” rating in a report on Wednesday, January 31st. BidaskClub cut shares of Cathay General Bancorp from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Zacks Investment Research raised shares of Cathay General Bancorp from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a report on Friday, January 5th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $44.00 price target on shares of Cathay General Bancorp in a report on Friday, December 22nd. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $45.13.
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About Cathay General Bancorp
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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