Cathay General Bancorp (CATY) CFO Heng W. Chen Sells 22,000 Shares of Stock
Cathay General Bancorp (NASDAQ:CATY) CFO Heng W. Chen sold 22,000 shares of the firm’s stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $35.24, for a total value of $775,280.00. Following the sale, the chief financial officer now directly owns 73,940 shares of the company’s stock, valued at approximately $2,605,645.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
Cathay General Bancorp (NASDAQ:CATY) traded up 0.86% on Thursday, reaching $35.20. The company’s stock had a trading volume of 103,715 shares. Cathay General Bancorp has a 52-week low of $25.62 and a 52-week high of $36.19. The stock’s 50 day moving average price is $30.85 and its 200 day moving average price is $30.21. The firm has a market cap of $2776.93 billion, a PE ratio of 16.84 and a beta of 1.12.
Cathay General Bancorp (NASDAQ:CATY) last posted its quarterly earnings data on Wednesday, October 19th. The company reported $0.58 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by $0.01. Cathay General Bancorp had a return on equity of 9.58% and a net margin of 32.24%. During the same period in the previous year, the firm posted $0.47 earnings per share. Equities research analysts expect that Cathay General Bancorp will post $2.19 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. GSA Capital Partners LLP boosted its position in Cathay General Bancorp by 11.1% in the second quarter. GSA Capital Partners LLP now owns 10,800 shares of the company’s stock valued at $305,000 after buying an additional 1,081 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of Cathay General Bancorp by 55,673.3% in the second quarter. BNP Paribas Arbitrage SA now owns 33,464 shares of the company’s stock worth $944,000 after buying an additional 33,404 shares in the last quarter. BlackRock Group LTD boosted its position in shares of Cathay General Bancorp by 16.7% in the first quarter. BlackRock Group LTD now owns 63,717 shares of the company’s stock worth $1,805,000 after buying an additional 9,119 shares in the last quarter. Emerald Acquisition Ltd. purchased a new position in shares of Cathay General Bancorp during the second quarter worth approximately $333,000. Finally, Airain ltd purchased a new position in shares of Cathay General Bancorp during the second quarter worth approximately $327,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.
Separately, Zacks Investment Research cut Cathay General Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, October 21st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Cathay General Bancorp currently has an average rating of “Hold” and an average price target of $33.00.
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); approximately seven limited partnerships investing in affordable housing investments, in which the Bank is the sole limited partner; GBC Venture Capital, Inc, and Asia Realty Corp.
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