Peter Wu Sells 7,289 Shares of Cathay General Bancorp (NASDAQ:CATY) Stock

Cathay General Bancorp (NASDAQ:CATY) Vice Chairman Peter Wu sold 7,289 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $47.05, for a total value of $342,947.45. Following the completion of the transaction, the insider now directly owns 347,963 shares of the company’s stock, valued at approximately $16,371,659.15. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Cathay General Bancorp Trading Down 0.1 %

NASDAQ CATY opened at $45.93 on Friday. The company has a market cap of $3.31 billion, a P/E ratio of 11.57 and a beta of 1.11. Cathay General Bancorp has a 12 month low of $33.88 and a 12 month high of $47.65. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.03 and a quick ratio of 1.03. The company has a 50-day moving average of $43.67 and a 200-day moving average of $40.18.

Cathay General Bancorp (NASDAQ:CATY) last issued its quarterly earnings results on Monday, October 21st. The bank reported $0.94 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 period last year, the company posted $1.13 EPS. As a group, equities analysts predict that Cathay General Bancorp will post 3.98 earnings per share for the current year.

Cathay General Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Thursday, August 29th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend was Thursday, August 29th. Cathay General Bancorp’s payout ratio is currently 34.26%.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Cathay General Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Cathay General Bancorp during the 1st quarter worth about $946,000. SG Americas Securities LLC lifted its position in Cathay General Bancorp by 504.2% during the second quarter. SG Americas Securities LLC now owns 24,568 shares of the bank’s stock valued at $927,000 after buying an additional 20,502 shares in the last quarter. ORG Partners LLC purchased a new stake in Cathay General Bancorp during the first quarter worth approximately $982,000. Nordea Investment Management AB increased its position in shares of Cathay General Bancorp by 1.9% in the first quarter. Nordea Investment Management AB now owns 181,928 shares of the bank’s stock worth $6,979,000 after acquiring an additional 3,478 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in shares of Cathay General Bancorp by 105.6% in the 1st quarter. BNP Paribas Financial Markets now owns 40,975 shares of the bank’s stock valued at $1,550,000 after acquiring an additional 21,042 shares during the period. 75.01% of the stock is currently owned by institutional investors and hedge funds.

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.