Cathay General Bancorp (CATY) Upgraded to Hold by Zacks Investment Research
According to Zacks, “Cathay General Bancorp is the one-bank holding company for Cathay Bank, a California state-chartered bank. Cathay Bank offers a wide range of financial services. Cathay Bank currently operates branches in California, New York State, Massachusetts, Houston, Texas, Washington State, and representative offices in Hong Kong and Shanghai, China. In addition, Cathay Bank’s subsidiaries, Cathay Investment Company and GBC Investment & Consulting Company, Inc., each maintain an office in Taipei. “
Cathay General Bancorp (NASDAQ:CATY) opened at 35.23 on Tuesday. Cathay General Bancorp has a 12 month low of $25.62 and a 12 month high of $36.35. The firm has a 50-day moving average price of $31.95 and a 200 day moving average price of $30.53. The firm has a market capitalization of $2.78 billion, a price-to-earnings ratio of 16.86 and a beta of 1.12.
Cathay General Bancorp (NASDAQ:CATY) last released its earnings results on Wednesday, October 19th. The company reported $0.58 earnings per share (EPS) for the quarter, missing the 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 prior year, the business posted $0.47 EPS. On average, equities analysts forecast that Cathay General Bancorp will post $2.19 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 12th. Shareholders of record on Thursday, December 1st will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date is Tuesday, November 29th. This is an increase from Cathay General Bancorp’s previous quarterly dividend of $0.18. Cathay General Bancorp’s payout ratio is 34.29%.
In other Cathay General Bancorp news, CFO Heng W. Chen sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $35.19, for a total transaction of $422,280.00. Following the transaction, the chief financial officer now owns 73,940 shares of the company’s stock, valued at $2,601,948.60. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Dunson K. Cheng sold 27,500 shares of the business’s stock in a transaction that occurred on Friday, November 18th. The stock was 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 disclosure for this sale can be found here. Company insiders own 6.36% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. US Bancorp DE increased 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 in the last quarter. Victory Capital Management Inc. increased 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 in the last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Cathay General Bancorp during the third quarter worth about $123,000. BlackRock Japan Co. Ltd increased 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 in the last quarter. Finally, LS Investment Advisors LLC increased 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 in the last quarter. 67.34% of the stock is currently owned by institutional investors.
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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