Cathay General Bancorp (CATY) EVP Sells $169,898.00 in Stock

Cathay General Bancorp (NASDAQ:CATY) EVP Kim R. Bingham sold 3,800 shares of Cathay General Bancorp stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $44.71, for a total value of $169,898.00. Following the sale, the executive vice president now directly owns 21,803 shares in the company, valued at approximately $974,812.13. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Shares of Cathay General Bancorp (CATY) opened at $44.09 on Monday. Cathay General Bancorp has a 12 month low of $34.00 and a 12 month high of $45.59. 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 capitalization of $3,566.59, a price-to-earnings ratio of 17.64, a PEG ratio of 1.75 and a beta of 1.38.

Cathay General Bancorp (NASDAQ:CATY) last posted its quarterly earnings data on Tuesday, January 30th. The bank reported $0.61 EPS for the quarter, missing the Zacks’ 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 the consensus estimate of $139.43 million. During the same period in the prior year, the firm posted $0.60 EPS. The firm’s quarterly revenue was up 21.8% on a year-over-year basis. research analysts forecast that Cathay General Bancorp will post 3.15 earnings per share for the current fiscal year.

A number of analysts have recently commented on the company. ValuEngine raised Cathay General Bancorp from a “hold” rating to a “buy” rating in a research note on Friday. BMO Capital Markets reissued a “hold” rating and issued a $51.00 price objective on shares of Cathay General Bancorp in a research note on Wednesday, January 31st. BidaskClub downgraded Cathay General Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. Zacks Investment Research raised Cathay General Bancorp from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a research note on Friday, January 5th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $44.00 price objective on shares of Cathay General Bancorp in a research note on Friday, December 22nd. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $45.13.

Several hedge funds and other institutional investors have recently modified their holdings of CATY. Wells Fargo & Company MN grew its holdings in shares of Cathay General Bancorp by 4.1% in the 2nd quarter. Wells Fargo & Company MN now owns 119,825 shares of the bank’s stock worth $4,547,000 after acquiring an additional 4,727 shares during the last quarter. Amalgamated Bank grew its holdings in shares of Cathay General Bancorp by 2.4% in the 2nd quarter. Amalgamated Bank now owns 10,680 shares of the bank’s stock worth $405,000 after acquiring an additional 250 shares during the last quarter. New York State Common Retirement Fund grew its holdings in shares of Cathay General Bancorp by 0.4% in the 2nd quarter. New York State Common Retirement Fund now owns 287,750 shares of the bank’s stock worth $10,920,000 after acquiring an additional 1,199 shares during the last quarter. Citigroup Inc. grew its holdings in shares of Cathay General Bancorp by 76.0% in the 2nd quarter. Citigroup Inc. now owns 12,340 shares of the bank’s stock worth $468,000 after acquiring an additional 5,329 shares during the last quarter. Finally, California Public Employees Retirement System grew its holdings in shares of Cathay General Bancorp by 1.0% in the 2nd quarter. California Public Employees Retirement System now owns 171,400 shares of the bank’s stock worth $6,505,000 after acquiring an additional 1,700 shares during the last quarter. Institutional investors and hedge funds own 67.79% of the company’s stock.

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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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