News headlines about Cathay General Bancorp (NASDAQ:CATY) have trended somewhat positive on Monday, Accern reports. The research firm rates the sentiment of media coverage by reviewing more than twenty million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Cathay General Bancorp earned a news sentiment score of 0.12 on Accern’s scale. Accern also assigned media stories about the bank an impact score of 47.239157806925 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
CATY opened at $41.76 on Monday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.27. The company has a market cap of $3.39 billion, a P/E ratio of 16.98, a price-to-earnings-growth ratio of 1.61 and a beta of 1.39. Cathay General Bancorp has a fifty-two week low of $34.00 and a fifty-two week high of $45.59.
Cathay General Bancorp (NASDAQ:CATY) last posted its quarterly earnings results on Wednesday, April 18th. The bank reported $0.78 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.78. Cathay General Bancorp had a net margin of 29.83% and a return on equity of 11.02%. The business had revenue of $140.65 million during the quarter, compared to the consensus estimate of $141.83 million. During the same period in the previous year, the firm posted $0.61 earnings per share. equities research analysts anticipate that Cathay General Bancorp will post 3.24 earnings per share for the current fiscal year.
CATY has been the subject of a number of recent research reports. BidaskClub downgraded shares of Cathay General Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. ValuEngine raised shares of Cathay General Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. BMO Capital Markets boosted their price target on shares of Cathay General Bancorp to $51.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 31st. Wedbush raised shares of Cathay General Bancorp from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $47.00 to $49.00 in a research note on Wednesday, May 2nd. Finally, Zacks Investment Research downgraded shares of Cathay General Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, April 20th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $45.72.
In other Cathay General Bancorp news, insider Dunson K. Cheng sold 26,667 shares of the company’s stock in a transaction that occurred on Friday, April 27th. The shares were sold at an average price of $40.78, for a total value of $1,087,480.26. Following the completion of the sale, the insider now owns 97,124 shares of the company’s stock, valued at $3,960,716.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Dunson K. Cheng sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 4th. The shares were sold at an average price of $41.12, for a total transaction of $411,200.00. Following the completion of the sale, the chairman now directly owns 75,161 shares of the company’s stock, valued at approximately $3,090,620.32. The disclosure for this sale can be found here. Insiders sold 60,000 shares of company stock valued at $2,460,000 in the last ninety days. Insiders own 4.90% of the company’s stock.
About Cathay General Bancorp
Cathay General Bancorp operates as the holding company for Cathay Bank that offers various commercial banking products and services to individuals, professionals, and small to medium-sized businesses in the United States. The company offers various deposit products, including passbook accounts, checking accounts, money market deposit accounts, certificates of deposit, individual retirement accounts, and public funds deposits.
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