Cathay General Bancorp (NASDAQ:CATY) Receives $47.75 Average PT from Brokerages

Shares of Cathay General Bancorp (NASDAQ:CATY - Get Free Report) have been assigned a consensus recommendation of "Hold" from the five ratings firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $47.75.

A number of equities research analysts have commented on CATY shares. Stephens raised Cathay General Bancorp from an "equal weight" rating to an "overweight" rating in a research note on Monday, December 9th. Truist Financial lifted their price target 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. Keefe, Bruyette & Woods boosted their price target on shares of Cathay General Bancorp from $45.00 to $56.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. Finally, Wedbush raised their price objective on shares of Cathay General Bancorp from $50.00 to $52.00 and gave the company an "outperform" rating in a research note on Wednesday, October 23rd.

Insider Buying and Selling at Cathay General Bancorp

In other Cathay General Bancorp news, EVP Thomas M. Lo sold 900 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $47.00, for a total value of $42,300.00. Following the completion of the sale, the executive vice president now owns 3,359 shares in the company, valued at approximately $157,873. This trade represents a 21.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Vice Chairman Peter Wu sold 40,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the insider now owns 295,252 shares in the company, valued at $15,609,973.24. The trade was a 11.93 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,189 shares of company stock worth $2,500,047. Corporate insiders own 4.76% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased 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 purchasing an additional 176,215 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Cathay General Bancorp by 3.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,758,777 shares of the bank's stock valued at $118,489,000 after buying an additional 87,847 shares during the period. Geode Capital Management LLC lifted its position in shares of Cathay General Bancorp by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,713,650 shares of the bank's stock valued at $73,615,000 after buying an additional 20,840 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Cathay General Bancorp by 19.8% during the 2nd quarter. American Century Companies Inc. now owns 1,262,970 shares of the bank's stock worth $47,639,000 after acquiring an additional 208,599 shares during the period. Finally, Stieven Capital Advisors L.P. grew its stake in shares of Cathay General Bancorp by 39.3% during the 3rd quarter. Stieven Capital Advisors L.P. now owns 256,404 shares of the bank's stock worth $11,013,000 after acquiring an additional 72,300 shares during the period. Institutional investors own 75.01% of the company's stock.

Cathay General Bancorp Trading Up 0.9 %

CATY traded up $0.44 during trading on Friday, reaching $47.54. 218,003 shares of the stock traded hands, compared to its average volume of 248,001. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.07. The stock's 50-day moving average is $49.79 and its 200 day moving average is $44.48. Cathay General Bancorp has a 12 month low of $33.88 and a 12 month high of $55.29. The stock has a market capitalization of $3.38 billion, a PE ratio of 11.97 and a beta of 1.12.

Cathay General Bancorp (NASDAQ:CATY - Get Free Report) last issued its 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). The company had revenue of $359.86 million for the quarter, compared to the consensus estimate of $182.70 million. Cathay General Bancorp had a return on equity of 11.30% and a net margin of 20.57%. During the same period in the prior year, the company earned $1.13 earnings per share. Equities analysts anticipate that Cathay General Bancorp will post 3.99 earnings per share for the current year.

Cathay General Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Wednesday, November 27th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend was Wednesday, November 27th. Cathay General Bancorp's payout ratio is currently 34.26%.

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.