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 dated Monday, February 12th. The stock was sold at an average price of $41.92, for a total transaction of $838,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Cathay General Bancorp (CATY) traded up $0.95 during midday trading on Wednesday, reaching $42.75. 246,971 shares of the company’s stock traded hands, compared to its average volume of 350,000. The stock has a market capitalization of $3,460.00, a P/E ratio of 17.45, a PEG ratio of 1.66 and a beta of 1.37. Cathay General Bancorp has a 1-year low of $34.00 and a 1-year high of $45.59. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.04 and a current ratio of 1.04.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. OxFORD Asset Management LLP lifted its holdings in Cathay General Bancorp by 84.2% during the second quarter. OxFORD Asset Management LLP now owns 10,957 shares of the bank’s stock valued at $416,000 after purchasing an additional 5,009 shares during the last quarter. Prudential Financial Inc. increased its position in shares of Cathay General Bancorp by 4.6% during the third quarter. Prudential Financial Inc. now owns 1,240,295 shares of the bank’s stock valued at $49,860,000 after buying an additional 54,780 shares during the period. Nordea Investment Management AB increased its position in shares of Cathay General Bancorp by 2.9% during the third quarter. Nordea Investment Management AB now owns 165,400 shares of the bank’s stock valued at $6,649,000 after buying an additional 4,600 shares during the period. Empire Life Investments Inc. bought a new stake in shares of Cathay General Bancorp during the third quarter valued at about $2,665,000. Finally, Legal & General Group Plc increased its position in shares of Cathay General Bancorp by 11.4% during the third quarter. Legal & General Group Plc now owns 65,988 shares of the bank’s stock valued at $2,656,000 after buying an additional 6,764 shares during the period. 67.66% of the stock is currently owned by institutional investors and hedge funds.

CATY has been the topic of a number of research analyst reports. BMO Capital Markets reissued a “hold” rating and issued a $46.00 price target on shares of Cathay General Bancorp in a report on Wednesday, December 20th. 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 Monday, October 30th. Piper Jaffray Companies reissued a “buy” rating and issued a $51.00 price target on shares of Cathay General Bancorp in a report on Tuesday, January 9th. Sandler O’Neill reaffirmed a “hold” rating and set a $45.00 price objective on shares of Cathay General Bancorp in a report on Thursday, January 4th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $44.00 price objective on shares of Cathay General Bancorp in a report on Friday, December 22nd. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Cathay General Bancorp currently has an average rating of “Hold” and an average 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.

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

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