Cathay General Bancorp (NASDAQ:CATY) Vice Chairman Peter Wu Sells 40,000 Shares

Cathay General Bancorp (NASDAQ:CATY) Vice Chairman Peter Wu sold 40,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $52.87, for a total value of $2,114,800.00. Following the sale, the insider now owns 295,252 shares of the company’s stock, valued at approximately $15,609,973.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 Trading Up 0.4 %

Shares of Cathay General Bancorp stock opened at $51.11 on Friday. The stock 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. The business’s 50 day moving average is $44.21 and its 200-day moving average is $40.67.

Cathay General Bancorp (NASDAQ:CATY) last posted 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 firm had revenue of $359.86 million for the quarter, compared to the consensus estimate of $182.70 million. During the same period last year, the company posted $1.13 earnings per share. Equities research analysts predict that Cathay General Bancorp will post 4 earnings per share for the current fiscal year.

Cathay General Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Thursday, August 29th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.66%. 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

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

Hedge Funds Weigh In On Cathay General Bancorp

Institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its stake in shares of Cathay General Bancorp by 4.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,194,232 shares of the bank’s stock worth $158,206,000 after acquiring an additional 176,215 shares during the period. American Century Companies Inc. boosted its position in Cathay General Bancorp by 19.8% during the second quarter. American Century Companies Inc. now owns 1,262,970 shares of the bank’s stock worth $47,639,000 after purchasing an additional 208,599 shares during the period. Boston Trust Walden Corp increased its holdings in shares of Cathay General Bancorp by 4.1% in the second quarter. Boston Trust Walden Corp now owns 736,727 shares of the bank’s stock valued at $27,789,000 after purchasing an additional 28,968 shares during the last quarter. Stieven Capital Advisors L.P. raised its position in shares of Cathay General Bancorp by 39.3% in the third quarter. Stieven Capital Advisors L.P. now owns 256,404 shares of the bank’s stock valued at $11,013,000 after purchasing an additional 72,300 shares during the period. Finally, Foundry Partners LLC acquired a new stake in shares of Cathay General Bancorp during the 3rd quarter worth about $7,493,000. Institutional investors and hedge funds own 75.01% of the company’s stock.

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.