Cathay General Bancorp (NASDAQ:CATY) Receives $37.80 Consensus Target Price from Analysts

Shares of Cathay General Bancorp (NASDAQ:CATYGet Free Report) have received a consensus rating of “Hold” from the five analysts that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $37.80.

Separately, StockNews.com lowered shares of Cathay General Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, January 31st.

View Our Latest Stock Report on Cathay General Bancorp

Cathay General Bancorp Stock Down 0.2 %

CATY stock opened at $37.82 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.05 and a quick ratio of 1.05. The company has a 50-day moving average of $40.76 and a two-hundred day moving average of $38.61. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of 7.78 and a beta of 1.12. Cathay General Bancorp has a 52-week low of $27.24 and a 52-week high of $45.72.

Cathay General Bancorp (NASDAQ:CATYGet Free Report) last posted its quarterly earnings results on Wednesday, January 24th. The bank reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.15. The company had revenue of $205.24 million for the quarter, compared to analyst estimates of $197.95 million. Cathay General Bancorp had a net margin of 27.02% and a return on equity of 13.89%. As a group, equities research analysts anticipate that Cathay General Bancorp will post 4.12 EPS for the current year.

Cathay General Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Wednesday, February 28th were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.60%. Cathay General Bancorp’s payout ratio is presently 27.98%.

Insiders Place Their Bets

In other news, Vice Chairman Anthony M. Tang sold 7,000 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $43.45, for a total transaction of $304,150.00. Following the completion of the sale, the insider now owns 204,500 shares in the company, valued at approximately $8,885,525. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Cathay General Bancorp

Institutional investors have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA increased its position in shares of Cathay General Bancorp by 4.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,654,350 shares of the bank’s stock valued at $57,505,000 after acquiring an additional 75,749 shares during the last quarter. Ontario Teachers Pension Plan Board boosted its holdings in shares of Cathay General Bancorp by 5.5% in the 2nd quarter. Ontario Teachers Pension Plan Board now owns 51,060 shares of the bank’s stock worth $1,644,000 after buying an additional 2,663 shares during the last quarter. Jupiter Asset Management Ltd. grew its position in Cathay General Bancorp by 280.1% during the third quarter. Jupiter Asset Management Ltd. now owns 334,678 shares of the bank’s stock valued at $11,633,000 after buying an additional 246,622 shares during the period. SG Americas Securities LLC purchased a new stake in Cathay General Bancorp during the third quarter worth about $1,831,000. Finally, US Bancorp DE raised its position in Cathay General Bancorp by 26.6% in the second quarter. US Bancorp DE now owns 3,913 shares of the bank’s stock worth $126,000 after acquiring an additional 821 shares during the period. Institutional investors and hedge funds own 69.01% of the company’s stock.

About Cathay General Bancorp

(Get Free Report

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.

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Analyst Recommendations for Cathay General Bancorp (NASDAQ:CATY)

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