Shares of Cathay General Bancorp (NASDAQ:CATY – Get Rating) have been given an average rating of “Hold” by the seven brokerages that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $40.17.
Several brokerages recently weighed in on CATY. StockNews.com began coverage on Cathay General Bancorp in a research note on Thursday, May 18th. They set a “hold” rating for the company. Truist Financial dropped their price target on Cathay General Bancorp from $39.00 to $36.00 in a research note on Monday, April 24th. Piper Sandler dropped their price target on Cathay General Bancorp from $35.00 to $34.00 in a research note on Friday, April 21st. Keefe, Bruyette & Woods dropped their price target on Cathay General Bancorp from $50.00 to $40.00 and set a “market perform” rating on the stock in a research note on Thursday, April 6th. Finally, Wedbush dropped their price target on Cathay General Bancorp from $42.00 to $40.00 and set an “outperform” rating on the stock in a research note on Friday, April 21st.
Insiders Place Their Bets
In other Cathay General Bancorp news, Director Richard Sun acquired 6,100 shares of the firm’s stock in a transaction on Tuesday, April 25th. The stock was purchased at an average cost of $35.00 per share, for a total transaction of $213,500.00. Following the transaction, the director now owns 17,315 shares of the company’s stock, valued at approximately $606,025. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.30% of the company’s stock.
Institutional Investors Weigh In On Cathay General Bancorp
Cathay General Bancorp Trading Down 1.4 %
Shares of CATY stock opened at $30.74 on Friday. The stock has a 50-day simple moving average of $32.08 and a 200 day simple moving average of $39.18. Cathay General Bancorp has a fifty-two week low of $27.24 and a fifty-two week high of $47.30. The stock has a market capitalization of $2.23 billion, a P/E ratio of 5.93 and a beta of 1.14. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.20.
Cathay General Bancorp (NASDAQ:CATY – Get Rating) last announced its earnings results on Thursday, April 20th. The bank reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.03. Cathay General Bancorp had a return on equity of 15.47% and a net margin of 37.58%. The business had revenue of $299.63 million during the quarter, compared to analysts’ expectations of $206.73 million. During the same quarter last year, the business posted $0.99 earnings per share. On average, sell-side analysts expect that Cathay General Bancorp will post 4.81 earnings per share for the current fiscal year.
Cathay General Bancorp Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 9th. Shareholders of record on Tuesday, May 30th will be given a dividend of $0.34 per share. The ex-dividend date is Friday, May 26th. This represents a $1.36 dividend on an annualized basis and a yield of 4.42%. Cathay General Bancorp’s payout ratio is presently 26.25%.
About Cathay General Bancorp
Cathay General Bancorp is a holding company, which engages in the provision of financial services. It offers commercial mortgage loans, commercial loans, small business administration loans, residential mortgage loans, real estate construction loans, home equity lines of credit, and installment loans to individuals for automobile, household, and other consumer expenditures.
- Get a free copy of the StockNews.com research report on Cathay General Bancorp (CATY)
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