Cathay General Bancorp (NASDAQ:CATY) CEO Sells 4,836 Shares
by Mitch Edgeman · The Markets DailyCathay General Bancorp (NASDAQ:CATY – Get Free Report) CEO Chang Liu sold 4,836 shares of the company’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $50.35, for a total transaction of $243,492.60. Following the completion of the sale, the chief executive officer owned 127,819 shares in the company, valued at approximately $6,435,686.65. This trade represents a 3.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Cathay General Bancorp Stock Up 0.3%
Shares of Cathay General Bancorp stock traded up $0.17 during trading on Tuesday, reaching $51.51. The company had a trading volume of 329,107 shares, compared to its average volume of 479,526. The company has a market cap of $3.45 billion, a price-to-earnings ratio of 11.35 and a beta of 0.82. The firm’s fifty day moving average is $50.66 and its 200-day moving average is $49.30. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.03 and a current ratio of 1.03. Cathay General Bancorp has a fifty-two week low of $36.60 and a fifty-two week high of $54.99.
Cathay General Bancorp (NASDAQ:CATY – Get Free Report) last issued its earnings results on Thursday, January 22nd. The bank reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.13. The business had revenue of $222.83 million for the quarter, compared to analyst estimates of $211.76 million. Cathay General Bancorp had a net margin of 22.76% and a return on equity of 10.89%. During the same quarter in the prior year, the business posted $1.12 EPS. On average, analysts anticipate that Cathay General Bancorp will post 4.47 EPS for the current year.
Cathay General Bancorp Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, March 9th. Stockholders of record on Thursday, February 26th were issued a $0.38 dividend. This is a positive change from Cathay General Bancorp’s previous quarterly dividend of $0.34. The ex-dividend date was Thursday, February 26th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.0%. Cathay General Bancorp’s dividend payout ratio (DPR) is presently 33.48%.
Institutional Investors Weigh In On Cathay General Bancorp
Institutional investors and hedge funds have recently bought and sold shares of the business. Bessemer Group Inc. raised its stake in Cathay General Bancorp by 101.8% during the third quarter. Bessemer Group Inc. now owns 781 shares of the bank’s stock worth $38,000 after acquiring an additional 394 shares during the period. Salomon & Ludwin LLC acquired a new stake in Cathay General Bancorp during the third quarter worth about $43,000. Hantz Financial Services Inc. raised its stake in Cathay General Bancorp by 36.0% during the third quarter. Hantz Financial Services Inc. now owns 979 shares of the bank’s stock worth $47,000 after acquiring an additional 259 shares during the period. Danske Bank A S acquired a new stake in shares of Cathay General Bancorp in the third quarter valued at approximately $48,000. Finally, Torren Management LLC acquired a new stake in shares of Cathay General Bancorp in the fourth quarter valued at approximately $76,000. Institutional investors and hedge funds own 75.01% of the company’s stock.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings reiterated a “buy (b-)” rating on shares of Cathay General Bancorp in a report on Monday, December 29th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $52.50.
View Our Latest Report on Cathay General Bancorp
About Cathay General Bancorp
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.