Peter Wu Sells 40,000 Shares of Cathay General Bancorp (NASDAQ:CATY) Stock

Cathay General Bancorp (NASDAQ:CATY) Vice Chairman Peter Wu sold 40,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $52.87, for a total value of $2,114,800.00. Following the completion of the transaction, the insider now directly owns 295,252 shares in the company, valued at approximately $15,609,973.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Peter Wu also recently made the following trade(s):

• On Wednesday, October 30th, Peter Wu sold 7,289 shares of Cathay General Bancorp stock. The stock was sold at an average price of $47.05, for a total value of $342,947.45.

Cathay General Bancorp Price Performance

CATY stock opened at $51.11 on Friday. The company’s 50-day moving average price is $44.21 and its two-hundred day moving average price is $40.67. The firm has a market cap of $3.69 billion, a P/E ratio of 12.87 and a beta of 1.10. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.07. Cathay General Bancorp has a 12 month low of $33.88 and a 12 month high of $53.19.

Cathay General Bancorp (NASDAQ:CATY) last announced its quarterly earnings data on Monday, October 21st. The bank reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). Cathay General Bancorp had a net margin of 20.57% and a return on equity of 11.30%. The firm had revenue of $359.86 million during the quarter, compared to the consensus estimate of $182.70 million. During the same period last year, the business earned $1.13 earnings per share. On average, analysts anticipate that Cathay General Bancorp will post 4 earnings per share for the current fiscal year.

Cathay General Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Thursday, August 29th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.66%. The ex-dividend date was Thursday, August 29th. Cathay General Bancorp’s dividend payout ratio (DPR) is presently 34.26%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Foundry Partners LLC acquired a new stake in shares of Cathay General Bancorp in the 3rd quarter valued at approximately $7,493,000. Intech Investment Management LLC bought a new position in shares of Cathay General Bancorp in the 3rd quarter valued at $524,000. LMR Partners LLP bought a new position in shares of Cathay General Bancorp in the 3rd quarter valued at $318,000. Stieven Capital Advisors L.P. grew its position in Cathay General Bancorp by 39.3% during the 3rd quarter. Stieven Capital Advisors L.P. now owns 256,404 shares of the bank’s stock worth $11,013,000 after acquiring an additional 72,300 shares during the last quarter. Finally, Natixis Advisors LLC bought a new stake in shares of Cathay General Bancorp during the third quarter worth about $512,000. Institutional investors and hedge funds own 75.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on CATY. StockNews.com raised shares of Cathay General Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, July 19th. Truist Financial raised their target price on shares of Cathay General Bancorp from $45.00 to $47.00 and gave the stock a “hold” rating in a report on Friday, September 20th. Piper Sandler boosted their price target on Cathay General Bancorp from $32.00 to $36.00 and gave the company an “underweight” rating in a research note on Tuesday, July 23rd. Finally, Wedbush increased their price target on Cathay General Bancorp from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $44.00.

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.