Cathay General Bancorp - CATY Stock Forecast, Price & News

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. It also provides loan products, such as commercial mortgage loans, commercial loans, small business administration loans, residential mortgage loans, real estate construction loans, and home equity lines of credit, as well as installment loans to individuals for household, and other consumer expenditures. In addition, the company offers trade financing, letter of credit, wire transfer, forward currency spot and forward contract, traveler's check, safe deposit, night deposit, social security payment deposit, collection, bank-by-mail, drive-up and walk-up window, automatic teller machine, Internet banking, investment, and other customary bank services, as well as securities and insurance products. As of March 1, 2022, it operated 31 branches in Southern California, 16 branches in Northern California, 10 branches in New York, four branches in Washington, two branches in Illinois, and two branches in Texas, as well as one branch each in Maryland, Massachusetts, Nevada, and New Jersey, and Hong Kong; and a representative office each in Beijing, Taipei, and Shanghai. The company was founded in 1962 and is headquartered in Los Angeles, California.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CATY shares. Truist Financial dropped their target price on shares of Cathay General Bancorp from $46.00 to $43.00 in a report on Wednesday, June 15th. Stephens decreased their target price on shares of Cathay General Bancorp to $44.00 in a research note on Tuesday, July 26th. Finally, Piper Sandler dropped their price target on Cathay General Bancorp to $43.00 in a research report on Monday, July 4th.

Cathay General Bancorp Trading Up 0.3 %

Cathay General Bancorp stock traded up $0.13 during midday trading on Thursday, hitting $45.06. 638 shares of the stock were exchanged, compared to its average volume of 247,745. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.10. The stock's 50-day simple moving average is $40.57 and its 200 day simple moving average is $42.69. Cathay General Bancorp has a fifty-two week low of $37.37 and a fifty-two week high of $48.88. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of 11.01 and a beta of 1.17.

Cathay General Bancorp (NASDAQ:CATY - Get Rating) last announced its quarterly earnings results on Monday, July 25th. The bank reported $1.18 earnings per share (EPS) for the quarter, topping 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 quarter in the prior year, the company posted $0.97 earnings per share. On average, equities analysts anticipate that Cathay General Bancorp will post 4.71 EPS for the current year.

Insider Buying and Selling at Cathay General Bancorp

In other news, Chairman Dunson K. Cheng sold 1,000 shares of the stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $43.77, for a total transaction of $43,770.00. Following the completion of the transaction, the chairman now directly owns 87,984 shares in the company, valued at approximately $3,851,059.68. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Chairman Dunson K. Cheng sold 2,000 shares of Cathay General Bancorp stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $42.29, for a total value of $84,580.00. Following the completion of the sale, the chairman now owns 88,984 shares in the company, valued at approximately $3,763,133.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Dunson K. Cheng sold 1,000 shares of the business's stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $43.77, for a total value of $43,770.00. Following the completion of the sale, the chairman now directly owns 87,984 shares in the company, valued at approximately $3,851,059.68. The disclosure for this sale can be found here. Insiders have sold 24,000 shares of company stock worth $999,080 over the last quarter. 4.30% of the stock is currently owned by company insiders.