Trade Report: Today, Cathay General Bancorp (CATY) Insider Dunson K. Cheng Sold 94,970 Shares

Today, Cathay General Bancorp (CATY) Insider Dunson K. Cheng Sold 94,970 Shares

Cathay General Bancorp (NASDAQ:CATY) insider Dunson K. Cheng sold 94,970 shares of the stock in a transaction on Monday, November 28th. The stock was sold at an average price of $35.95, for a total transaction of $3,414,171.50. Following the completion of the sale, the insider now directly owns 293,907 shares of the company’s stock, valued at approximately $10,565,956.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Shares of Cathay General Bancorp (NASDAQ:CATY) opened at 35.57 on Tuesday. The firm has a market cap of $2.81 billion, a price-to-earnings ratio of 17.03 and a beta of 1.12. The stock has a 50 day moving average of $31.95 and a 200 day moving average of $30.53. Cathay General Bancorp has a 52-week low of $25.62 and a 52-week high of $36.35.

Cathay General Bancorp (NASDAQ:CATY) last announced its earnings results on Wednesday, October 19th. The company reported $0.58 EPS for the quarter, missing the consensus estimate of $0.59 by $0.01. Cathay General Bancorp had a return on equity of 9.58% and a net margin of 32.24%. During the same quarter last year, the firm earned $0.47 earnings per share. Equities analysts predict that Cathay General Bancorp will post $2.19 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 12th. Shareholders of record on Thursday, December 1st will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.34%. This is a boost from Cathay General Bancorp’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Tuesday, November 29th. Cathay General Bancorp’s dividend payout ratio (DPR) is presently 34.29%.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its position in shares of Cathay General Bancorp by 9.8% in the third quarter. Price T Rowe Associates Inc. MD now owns 25,766 shares of the company’s stock valued at $793,000 after buying an additional 2,300 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of Cathay General Bancorp by 65.6% in the third quarter. Ameritas Investment Partners Inc. now owns 28,787 shares of the company’s stock valued at $886,000 after buying an additional 11,406 shares during the last quarter. 1832 Asset Management L.P. boosted its position in shares of Cathay General Bancorp by 6.2% in the third quarter. 1832 Asset Management L.P. now owns 574,128 shares of the company’s stock valued at $17,454,000 after buying an additional 33,400 shares during the last quarter. Horizon Investment Services LLC purchased a new position in shares of Cathay General Bancorp during the third quarter valued at approximately $220,000. Finally, Fuller & Thaler Asset Management Inc. purchased a new position in shares of Cathay General Bancorp during the third quarter valued at approximately $123,000. Institutional investors own 67.34% of the company’s stock.

Separately, Zacks Investment Research raised shares of Cathay General Bancorp from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a research report on Monday, September 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $33.00.

Cathay General Bancorp Company Profile

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