Cathay General Bancorp (NASDAQ:CATY) EVP Sells $42,300.00 in Stock

Cathay General Bancorp (NASDAQ:CATY) EVP Thomas M. Lo sold 900 shares of Cathay General Bancorp stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $47.00, for a total value of $42,300.00. Following the sale, the executive vice president now directly owns 3,359 shares in the company, valued at $157,873. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Cathay General Bancorp Price Performance

Cathay General Bancorp stock opened at $45.93 on Monday. The business’s fifty day moving average is $43.67 and its two-hundred day moving average is $40.22. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market cap of $3.31 billion, a P/E ratio of 11.57 and a beta of 1.10. Cathay General Bancorp has a 52 week low of $33.88 and a 52 week high of $47.65.

Cathay General Bancorp (NASDAQ:CATY) last issued its quarterly earnings results on Monday, October 21st. The bank reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.01). Cathay General Bancorp had a return on equity of 11.30% and a net margin of 20.57%. The company had revenue of $359.86 million for the quarter, compared to analyst estimates of $182.70 million. During the same quarter last year, the company earned $1.13 EPS. Equities research analysts forecast that Cathay General Bancorp will post 3.98 earnings per share for the current fiscal year.

Cathay General Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Thursday, August 29th were paid a dividend of $0.34 per share. The ex-dividend date was Thursday, August 29th. This represents a $1.36 annualized dividend and a dividend yield of 2.96%. Cathay General Bancorp’s dividend payout ratio (DPR) is currently 34.26%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Quarry LP boosted its position in Cathay General Bancorp by 76.3% in the 2nd quarter. Quarry LP now owns 765 shares of the bank’s stock valued at $29,000 after buying an additional 331 shares during the last quarter. Quest Partners LLC bought a new position in Cathay General Bancorp in the second quarter valued at about $40,000. CWM LLC increased its position in Cathay General Bancorp by 168.6% in the second quarter. CWM LLC now owns 1,265 shares of the bank’s stock worth $48,000 after purchasing an additional 794 shares during the period. GAMMA Investing LLC increased its position in Cathay General Bancorp by 24.9% in the third quarter. GAMMA Investing LLC now owns 1,531 shares of the bank’s stock worth $66,000 after purchasing an additional 305 shares during the period. Finally, Bessemer Group Inc. raised its holdings in Cathay General Bancorp by 16.6% during the 1st quarter. Bessemer Group Inc. now owns 3,675 shares of the bank’s stock worth $139,000 after purchasing an additional 523 shares during the last quarter. Institutional investors own 75.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Wedbush boosted their price target on Cathay General Bancorp from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. StockNews.com upgraded shares of Cathay General Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, July 19th. Truist Financial upped 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. Finally, Piper Sandler lifted their price target on shares of Cathay General Bancorp from $32.00 to $36.00 and gave the company an “underweight” rating in a report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $44.00.

Cathay General Bancorp Company Profile

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.