Cathay General Bancorp (NASDAQ:CATY) Vice Chairman Sells $2,114,800.00 in Stock

Cathay General Bancorp (NASDAQ:CATY) Vice Chairman Peter Wu sold 40,000 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $15,609,973.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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 Stock Up 0.4 %

CATY opened at $51.11 on Monday. The firm has a market cap of $3.69 billion, a P/E ratio of 12.87 and a beta of 1.10. The business’s fifty day simple moving average is $44.21 and its 200 day simple moving average is $40.74. Cathay General Bancorp has a 52 week low of $33.88 and a 52 week high of $53.19. 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 (NASDAQ:CATY) last released its earnings results 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). The firm had revenue of $359.86 million during the quarter, compared to analysts’ expectations of $182.70 million. Cathay General Bancorp had a net margin of 20.57% and a return on equity of 11.30%. During the same quarter last year, the company posted $1.13 earnings per share. As a group, equities research analysts anticipate that Cathay General Bancorp will post 4 EPS for the current fiscal 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 given a dividend of $0.34 per share. The ex-dividend date was Thursday, August 29th. This represents a $1.36 dividend on an annualized basis and a yield of 2.66%. Cathay General Bancorp’s dividend payout ratio (DPR) is currently 34.26%.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Cathay General Bancorp in the first quarter valued at $946,000. SG Americas Securities LLC boosted its stake in Cathay General Bancorp by 504.2% in the 2nd quarter. SG Americas Securities LLC now owns 24,568 shares of the bank’s stock worth $927,000 after buying an additional 20,502 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in 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 buying an additional 21,042 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in Cathay General Bancorp by 37.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 73,644 shares of the bank’s stock valued at $2,542,000 after buying an additional 20,253 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in shares of Cathay General Bancorp by 8.4% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 9,314 shares of the bank’s stock valued at $352,000 after acquiring an additional 720 shares during the last quarter. 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.