Headlines about Cathay General Bancorp (NASDAQ:CATY) have been trending somewhat positive recently, Accern Sentiment Analysis reports. The research firm rates the sentiment of news coverage by monitoring more than twenty million blog and news sources. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. Cathay General Bancorp earned a news impact score of 0.13 on Accern’s scale. Accern also assigned news articles about the bank an impact score of 46.4774660903397 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
Several brokerages have weighed in on CATY. Zacks Investment Research raised Cathay General Bancorp from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research report on Friday, April 21st. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $37.00 target price on shares of Cathay General Bancorp in a research report on Tuesday, July 25th. BidaskClub lowered Cathay General Bancorp from a “sell” rating to a “strong sell” rating in a research report on Saturday. Piper Jaffray Companies dropped their target price on Cathay General Bancorp from $43.00 to $42.00 and set an “overweight” rating on the stock in a research report on Monday, April 17th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $39.00 target price on shares of Cathay General Bancorp in a research report on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $41.00.
Shares of Cathay General Bancorp (CATY) traded down 1.09% on Friday, hitting $35.31. The stock had a trading volume of 395,446 shares. The company has a market cap of $2.85 billion, a price-to-earnings ratio of 14.53 and a beta of 1.27. The firm has a 50 day moving average price of $37.51 and a 200-day moving average price of $37.78. Cathay General Bancorp has a 52 week low of $28.84 and a 52 week high of $40.83.
Cathay General Bancorp (NASDAQ:CATY) last issued its quarterly earnings data on Wednesday, July 19th. The bank reported $0.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.03. Cathay General Bancorp had a return on equity of 10.54% and a net margin of 35.30%. The firm had revenue of $123.50 million during the quarter, compared to the consensus estimate of $129.10 million. During the same quarter in the previous year, the company posted $0.44 EPS. Analysts anticipate that Cathay General Bancorp will post $2.44 EPS for the current year.
In other Cathay General Bancorp news, Vice Chairman Anthony M. Tang sold 50,000 shares of Cathay General Bancorp stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $38.01, for a total value of $1,900,500.00. Following the completion of the transaction, the insider now owns 301,400 shares in the company, valued at approximately $11,456,214. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 5.76% of the company’s stock.
Cathay General Bancorp Company Profile
Cathay General Bancorp is a bank holding company. The Company holds Cathay Bank, a California state-chartered commercial bank (the Bank); seven limited partnerships investing in affordable housing investments; GBC Venture Capital, Inc, and Asia Realty Corp. The Company also owns the common stock of five statutory business trusts created for issuing capital securities.
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