Cathay General Bancorp (NASDAQ:CATY – Get Free Report) Director Richard Sun sold 1,000 shares of the business’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $62.31, for a total transaction of $62,310.00. Following the completion of the transaction, the director directly owned 2,200 shares in the company, valued at $137,082. This represents a 31.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
Richard Sun also recently made the following trade(s):
- On Tuesday, August 25th, Richard Sun sold 1,000 shares of Cathay General Bancorp stock. The stock was sold at an average price of $62.08, for a total transaction of $62,080.00.
- On Monday, August 10th, Richard Sun sold 3,000 shares of Cathay General Bancorp stock. The stock was sold at an average price of $63.09, for a total transaction of $189,270.00.
- On Thursday, July 30th, Richard Sun sold 5,000 shares of Cathay General Bancorp stock. The shares were sold at an average price of $63.31, for a total transaction of $316,550.00.
- On Wednesday, July 29th, Richard Sun sold 20,000 shares of Cathay General Bancorp stock. The shares were sold at an average price of $63.31, for a total transaction of $1,266,200.00.
Cathay General Bancorp Trading Up 0.9%
Shares of Cathay General Bancorp stock opened at $62.58 on Friday. Cathay General Bancorp has a 52-week low of $44.57 and a 52-week high of $65.25. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.04. The company’s 50-day simple moving average is $62.65 and its 200-day simple moving average is $57.12. The firm has a market cap of $4.17 billion, a price-to-earnings ratio of 12.22 and a beta of 0.85.
Cathay General Bancorp Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Friday, August 28th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, August 28th. Cathay General Bancorp’s dividend payout ratio is 29.69%.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on the company. Piper Sandler lifted their price target on Cathay General Bancorp from $49.50 to $53.00 and gave the company an “underweight” rating in a research note on Monday, July 27th. Keefe, Bruyette & Woods increased their price objective on Cathay General Bancorp from $64.00 to $67.00 and gave the stock a “market perform” rating in a research report on Thursday, July 23rd. Zacks Research downgraded Cathay General Bancorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 12th. DA Davidson boosted their target price on shares of Cathay General Bancorp from $56.00 to $66.00 and gave the stock a “neutral” rating in a research report on Thursday, July 23rd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Cathay General Bancorp in a research report on Monday, July 6th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cathay General Bancorp has a consensus rating of “Hold” and an average target price of $62.25.
View Our Latest Research Report on CATY
Institutional Investors Weigh In On Cathay General Bancorp
Institutional investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. increased its position in Cathay General Bancorp by 1,274,076.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 484,187 shares of the bank’s stock worth $23,430,000 after buying an additional 484,149 shares in the last quarter. NFJ Investment Group LLC purchased a new stake in shares of Cathay General Bancorp in the fourth quarter valued at $5,550,000. Convergence Investment Partners LLC purchased a new stake in shares of Cathay General Bancorp in the fourth quarter valued at $1,505,000. Lazard Asset Management LLC acquired a new stake in shares of Cathay General Bancorp during the first quarter valued at $1,636,000. Finally, Norges Bank acquired a new stake in shares of Cathay General Bancorp during the fourth quarter valued at $41,140,000. Hedge funds and other institutional investors own 75.01% of the company’s stock.
Cathay General Bancorp Company Profile
Cathay General Bancorp is a bank holding company headquartered in Los Angeles, California, trading on NASDAQ under the symbol CATY. Its principal subsidiary, Cathay Bank, provides a full suite of financial services to commercial, institutional and retail clients. As a community-focused institution, the company emphasizes relationship banking and tailored solutions for businesses and individuals.
Founded in 1962 by a group of Chinese American entrepreneurs, Cathay has expanded from a single branch operation in downtown Los Angeles into one of the largest Asian-American banks in the United States.
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