Kim R. Bingham Sells 6,000 Shares of Cathay General Bancorp (NASDAQ:CATY) Stock

Cathay General Bancorp (NASDAQ:CATYGet Rating) EVP Kim R. Bingham sold 6,000 shares of the business’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $41.33, for a total transaction of $247,980.00. Following the transaction, the executive vice president now directly owns 34,884 shares of the company’s stock, valued at approximately $1,441,755.72. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Cathay General Bancorp Stock Performance

NASDAQ:CATY opened at $41.74 on Thursday. The firm’s 50-day moving average is $40.21 and its 200-day moving average is $42.77. Cathay General Bancorp has a 52-week low of $37.35 and a 52-week high of $48.88. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market cap of $3.14 billion, a price-to-earnings ratio of 10.23 and a beta of 1.17.

Cathay General Bancorp (NASDAQ:CATYGet Rating) last posted its earnings results on Monday, July 25th. The bank reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.01. Cathay General Bancorp had a net margin of 40.69% and a return on equity of 12.77%. During the same period in the previous year, the company earned $0.97 EPS. Equities research analysts anticipate that Cathay General Bancorp will post 4.7 earnings per share for the current year.

Cathay General Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 6th. Investors of record on Friday, May 27th were paid a $0.34 dividend. The ex-dividend date of this dividend was Thursday, May 26th. This represents a $1.36 dividend on an annualized basis and a yield of 3.26%. Cathay General Bancorp’s payout ratio is currently 33.33%.

Wall Street Analysts Forecast Growth

CATY has been the subject of a number of research analyst reports. Piper Sandler cut their target price on shares of Cathay General Bancorp to $43.00 in a research report on Monday, July 4th. Stephens dropped their price objective on shares of Cathay General Bancorp to $44.00 in a report on Tuesday, July 26th. Finally, Truist Financial dropped their price objective on shares of Cathay General Bancorp from $46.00 to $43.00 in a report on Wednesday, June 15th.

Institutional Trading of Cathay General Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lazard Asset Management LLC bought a new stake in Cathay General Bancorp in the fourth quarter valued at about $29,000. Covestor Ltd bought a new stake in Cathay General Bancorp during the fourth quarter worth about $29,000. Point72 Hong Kong Ltd bought a new stake in Cathay General Bancorp during the fourth quarter worth about $39,000. Parallel Advisors LLC grew its stake in Cathay General Bancorp by 91.6% during the second quarter. Parallel Advisors LLC now owns 1,069 shares of the bank’s stock worth $42,000 after buying an additional 511 shares during the last quarter. Finally, Allworth Financial LP bought a new stake in Cathay General Bancorp during the first quarter worth about $44,000. Institutional investors own 69.48% of the company’s stock.

Cathay General Bancorp Company Profile

(Get Rating)

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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