Cathay General Bancorp (CATY) Insider Dunson K. Cheng Sells 27,500 Shares
Cathay General Bancorp (NASDAQ:CATY) insider Dunson K. Cheng sold 27,500 shares of the stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $35.61, for a total value of $979,275.00. Following the transaction, the insider now directly owns 248,907 shares in the company, valued at approximately $8,863,578.27. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Shares of Cathay General Bancorp (NASDAQ:CATY) opened at 35.68 on Tuesday. Cathay General Bancorp has a 12 month low of $25.62 and a 12 month high of $36.19. The company has a market cap of $2.81 billion, a P/E ratio of 17.08 and a beta of 1.12. The firm has a 50 day moving average price of $31.36 and a 200-day moving average price of $30.33.
Cathay General Bancorp (NASDAQ:CATY) last issued its quarterly earnings results on Wednesday, October 19th. The company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by $0.01. Cathay General Bancorp had a net margin of 32.24% and a return on equity of 9.58%. During the same period in the prior year, the business earned $0.47 earnings per share. Analysts anticipate that Cathay General Bancorp will post $2.19 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 12th. Stockholders of record on Thursday, December 1st will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.35%. This is a positive change from Cathay General Bancorp’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Tuesday, November 29th. Cathay General Bancorp’s payout ratio is 34.29%.
Separately, Zacks Investment Research lowered Cathay General Bancorp from a “hold” rating to a “sell” rating in a report on Friday, October 21st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $33.00.
Several hedge funds have recently modified their holdings of CATY. Victory Capital Management Inc. raised its stake in shares of Cathay General Bancorp by 9.3% in the third quarter. Victory Capital Management Inc. now owns 3,733 shares of the company’s stock worth $115,000 after buying an additional 317 shares during the period. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Cathay General Bancorp during the third quarter worth approximately $123,000. US Bancorp DE raised its stake in shares of Cathay General Bancorp by 13.1% in the second quarter. US Bancorp DE now owns 4,074 shares of the company’s stock worth $115,000 after buying an additional 473 shares during the period. BlackRock Japan Co. Ltd raised its stake in shares of Cathay General Bancorp by 23.0% in the second quarter. BlackRock Japan Co. Ltd now owns 4,388 shares of the company’s stock worth $124,000 after buying an additional 820 shares during the period. Finally, LS Investment Advisors LLC raised its stake in shares of Cathay General Bancorp by 73.1% in the second quarter. LS Investment Advisors LLC now owns 4,415 shares of the company’s stock worth $125,000 after buying an additional 1,864 shares during the period. Institutional investors own 68.52% of the company’s stock.
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); 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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