News stories about Cathay General Bancorp (NASDAQ:CATY) have trended somewhat positive on Wednesday, Accern Sentiment reports. Accern identifies negative and positive press coverage by monitoring more than twenty million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Cathay General Bancorp earned a news impact score of 0.08 on Accern’s scale. Accern also assigned news headlines about the bank an impact score of 46.3240753119389 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the next few days.
CATY has been the subject of a number of recent analyst reports. SunTrust Banks initiated coverage on Cathay General Bancorp in a research note on Friday, August 18th. They issued a “hold” rating and a $39.00 price objective for the company. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $43.00 price objective on shares of Cathay General Bancorp in a research note on Friday, September 1st. Zacks Investment Research lowered Cathay General Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, September 14th. BMO Capital Markets reissued a “buy” rating and set a $44.00 price target on shares of Cathay General Bancorp in a research note on Thursday, October 5th. Finally, Royal Bank of Canada increased their price target on Cathay General Bancorp from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. Cathay General Bancorp currently has a consensus rating of “Hold” and an average target price of $42.14.
Shares of Cathay General Bancorp (CATY) opened at $43.01 on Wednesday. Cathay General Bancorp has a 52-week low of $34.00 and a 52-week high of $45.54. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market capitalization of $3,430.00, a P/E ratio of 17.04, a price-to-earnings-growth ratio of 2.13 and a beta of 1.34.
Cathay General Bancorp (NASDAQ:CATY) last issued its quarterly earnings data on Wednesday, October 25th. The bank reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. Cathay General Bancorp had a return on equity of 10.60% and a net margin of 33.87%. The business had revenue of $146.20 million for the quarter, compared to the consensus estimate of $135.27 million. During the same period in the prior year, the business posted $0.58 earnings per share. The company’s quarterly revenue was up 29.8% compared to the same quarter last year. equities research analysts predict that Cathay General Bancorp will post 2.49 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 11th. Shareholders of record on Friday, December 1st were given a dividend of $0.24 per share. The ex-dividend date was Thursday, November 30th. This is an increase from Cathay General Bancorp’s previous quarterly dividend of $0.21. This represents a $0.96 dividend on an annualized basis and a yield of 2.23%. Cathay General Bancorp’s dividend payout ratio is 39.02%.
In other news, COO Irwin Wong sold 6,059 shares of the stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $42.00, for a total value of $254,478.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 5.76% of the company’s stock.
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About Cathay General Bancorp
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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