Cathay General Bancorp (NASDAQ:CATY) EVP Kim R. Bingham Sells 6,000 Shares

Cathay General Bancorp (NASDAQ:CATY) EVP Kim R. Bingham sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $44.89, for a total value of $269,340.00. Following the sale, the executive vice president now directly owns 45,530 shares in the company, valued at approximately $2,043,841.70. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Cathay General Bancorp Trading Down 2.8 %

Shares of CATY traded down $1.25 during trading hours on Monday, hitting $43.99. The stock had a trading volume of 397,322 shares, compared to its average volume of 347,496. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market cap of $3.20 billion, a P/E ratio of 9.73 and a beta of 1.13. The company’s fifty day simple moving average is $38.05 and its 200 day simple moving average is $38.36. Cathay General Bancorp has a 12-month low of $32.08 and a 12-month high of $45.88.

Cathay General Bancorp (NASDAQ:CATY) last issued its earnings results on Monday, July 22nd. The bank reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.02). The firm had revenue of $178.53 million during the quarter, compared to analysts’ expectations of $179.19 million. Cathay General Bancorp had a return on equity of 11.96% and a net margin of 22.08%. The company’s quarterly revenue was down 12.8% compared to the same quarter last year. During the same period last year, the business posted $1.28 earnings per share. Equities research analysts forecast that Cathay General Bancorp will post 4.01 EPS for the current fiscal year.

Cathay General Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Thursday, May 30th were issued a $0.34 dividend. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $1.36 annualized dividend and a yield of 3.09%. Cathay General Bancorp’s dividend payout ratio is currently 30.09%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Truist Financial upped their target price on Cathay General Bancorp from $38.00 to $45.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Keefe, Bruyette & Woods reduced their target price on Cathay General Bancorp from $46.00 to $41.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 23rd. StockNews.com raised Cathay General Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, July 19th. Piper Sandler upped their target price 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 upped their target price on Cathay General Bancorp from $44.00 to $50.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cathay General Bancorp currently has a consensus rating of “Hold” and a consensus price target of $43.00.

Institutional Trading of Cathay General Bancorp

Large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC acquired a new stake in Cathay General Bancorp in the 4th quarter valued at $51,000. CWM LLC grew its stake in shares of Cathay General Bancorp by 168.6% during the second quarter. CWM LLC now owns 1,265 shares of the bank’s stock valued at $48,000 after acquiring an additional 794 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of Cathay General Bancorp by 16.6% during the first quarter. Bessemer Group Inc. now owns 3,675 shares of the bank’s stock valued at $139,000 after acquiring an additional 523 shares in the last quarter. TFO Wealth Partners LLC grew its stake in shares of Cathay General Bancorp by 22,160.0% during the fourth quarter. TFO Wealth Partners LLC now owns 4,452 shares of the bank’s stock valued at $198,000 after acquiring an additional 4,432 shares in the last quarter. Finally, Headlands Technologies LLC grew its stake in shares of Cathay General Bancorp by 12,039.0% during the first quarter. Headlands Technologies LLC now owns 4,977 shares of the bank’s stock valued at $188,000 after acquiring an additional 4,936 shares in the last quarter. 75.01% of the stock is currently owned by institutional investors and hedge funds.

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.