Cathay General Bancorp (CATY) Insider Dunson K. Cheng Sells 40,000 Shares
Cathay General Bancorp (NASDAQ:CATY) insider Dunson K. Cheng sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $35.62, for a total transaction of $1,424,800.00. Following the completion of the sale, the insider now directly owns 263,907 shares in the company, valued at $9,400,367.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Cathay General Bancorp (NASDAQ:CATY) traded up 0.08% on Wednesday, hitting $35.82. 28,772 shares of the company’s stock traded hands. Cathay General Bancorp has a 12 month low of $25.62 and a 12 month high of $36.19. The stock has a market cap of $2.83 billion, a P/E ratio of 17.15 and a beta of 1.12. The stock has a 50 day moving average price of $31.51 and a 200-day moving average price of $30.38.
Cathay General Bancorp (NASDAQ:CATY) last announced its quarterly earnings data on Wednesday, October 19th. The company reported $0.58 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 company earned $0.47 EPS. Equities analysts predict that Cathay General Bancorp will post $2.19 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 12th. Investors of record on Thursday, December 1st will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Tuesday, November 29th. This is an increase from Cathay General Bancorp’s previous quarterly dividend of $0.18. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.35%. Cathay General Bancorp’s payout ratio is 34.29%.
Several hedge funds and other institutional investors have recently made changes to their positions in CATY. Price T Rowe Associates Inc. MD increased its position in shares of Cathay General Bancorp by 9.8% in the third quarter. Price T Rowe Associates Inc. MD now owns 25,766 shares of the company’s stock worth $793,000 after buying an additional 2,300 shares during the period. Ameritas Investment Partners Inc. increased its position in Cathay General Bancorp by 65.6% in the third quarter. Ameritas Investment Partners Inc. now owns 28,787 shares of the company’s stock valued at $886,000 after buying an additional 11,406 shares during the last quarter. 1832 Asset Management L.P. increased its position in Cathay General Bancorp by 6.2% in the third quarter. 1832 Asset Management L.P. now owns 574,128 shares of the company’s stock valued at $17,454,000 after buying an additional 33,400 shares during the last quarter. Horizon Investment Services LLC acquired a new position in Cathay General Bancorp during the third quarter valued at $220,000. Finally, Fuller & Thaler Asset Management Inc. acquired a new position in Cathay General Bancorp during the third quarter valued at $123,000. Institutional investors own 68.52% of the company’s stock.
Separately, Zacks Investment Research raised shares of Cathay General Bancorp from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a research note on Monday, September 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Cathay General Bancorp presently has an average rating of “Hold” and an average target price of $33.00.
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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