Sandler O’Neill reiterated their hold rating on shares of Cathay General Bancorp (NASDAQ:CATY) in a research note released on Thursday, January 4th. Sandler O’Neill currently has a $45.00 price objective on the bank’s stock.
CATY has been the topic of several other reports. BMO Capital Markets lifted their target price on shares of Cathay General Bancorp from $44.00 to $45.00 and gave the stock an outperform rating in a research report on Friday, November 3rd. Zacks Investment Research raised shares of Cathay General Bancorp from a hold rating to a buy rating and set a $47.00 target price on the stock in a research report on Monday, October 30th. Keefe, Bruyette & Woods reissued a hold rating and issued a $44.00 target price on shares of Cathay General Bancorp in a research report on Friday, December 22nd. Finally, Piper Jaffray Companies restated a buy rating and set a $43.00 price target on shares of Cathay General Bancorp in a report on Friday, October 6th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Cathay General Bancorp currently has an average rating of Hold and an average price target of $44.50.
Cathay General Bancorp (NASDAQ:CATY) opened at $44.70 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.05 and a quick ratio of 1.05. Cathay General Bancorp has a 52-week low of $34.00 and a 52-week high of $45.54. The stock has a market cap of $3,581.94, a PE ratio of 17.80, a PEG ratio of 1.94 and a beta of 1.35.
Cathay General Bancorp (NASDAQ:CATY) last released its quarterly earnings results on Wednesday, October 25th. The bank reported $0.61 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $135.27 million. During the same period in the previous year, the firm earned $0.58 EPS. Cathay General Bancorp’s revenue was up 29.8% on a year-over-year basis. research analysts anticipate that Cathay General Bancorp will post 2.49 earnings per share for the current year.
In other Cathay General Bancorp news, COO Irwin Wong sold 10,000 shares of Cathay General Bancorp stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $43.10, for a total value of $431,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dunson K. Cheng sold 50,000 shares of Cathay General Bancorp stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $42.45, for a total transaction of $2,122,500.00. Following the completion of the sale, the insider now owns 119,591 shares of the company’s stock, valued at $5,076,637.95. The disclosure for this sale can be found here. Insiders sold 66,059 shares of company stock valued at $2,807,978 over the last quarter. Corporate insiders own 5.76% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Cathay General Bancorp by 9.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,029 shares of the bank’s stock valued at $115,000 after acquiring an additional 252 shares during the last quarter. Flinton Capital Management LLC lifted its stake in shares of Cathay General Bancorp by 65.9% in the second quarter. Flinton Capital Management LLC now owns 3,584 shares of the bank’s stock worth $136,000 after buying an additional 1,424 shares during the last quarter. Riverhead Capital Management LLC lifted its stake in shares of Cathay General Bancorp by 63.5% in the second quarter. Riverhead Capital Management LLC now owns 3,924 shares of the bank’s stock worth $149,000 after buying an additional 1,524 shares during the last quarter. Allianz Asset Management GmbH acquired a new stake in shares of Cathay General Bancorp in the third quarter worth $206,000. Finally, Narus Financial Partners LLC acquired a new stake in shares of Cathay General Bancorp in the third quarter worth $207,000. Hedge funds and other institutional investors own 67.47% of the company’s stock.
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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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