Media stories about Cathay General Bancorp (NASDAQ:CATY) have trended somewhat positive this week, according to Accern Sentiment Analysis. The research group identifies negative and positive press coverage by monitoring more than 20 million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Cathay General Bancorp earned a coverage optimism score of 0.03 on Accern’s scale. Accern also gave press coverage about the bank an impact score of 46.1281228774424 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.
Several equities analysts have recently issued reports on CATY shares. BidaskClub downgraded shares of Cathay General Bancorp from a “buy” rating to a “hold” rating in a report on Friday, December 29th. BMO Capital Markets reissued a “hold” rating and set a $46.00 price target on shares of Cathay General Bancorp in a report on Wednesday, December 20th. Sandler O’Neill reissued a “hold” rating and set a $45.00 price target on shares of Cathay General Bancorp in a report on Thursday, January 4th. Piper Jaffray Companies reissued a “buy” rating and set a $51.00 price target on shares of Cathay General Bancorp in a report on Tuesday, January 9th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $44.00 price target on shares of Cathay General Bancorp in a report on Friday, December 22nd. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $45.13.
Cathay General Bancorp (NASDAQ CATY) traded down $0.03 during mid-day trading on Friday, reaching $42.80. 1,151,121 shares of the company traded hands, compared to its average volume of 283,930. The firm has a market capitalization of $3,474.26, a P/E ratio of 19.63, a P/E/G ratio of 1.70 and a beta of 1.38. Cathay General Bancorp has a 1-year low of $34.00 and a 1-year high of $45.59. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.33.
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 12th. Investors of record on Thursday, March 1st were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend was Wednesday, February 28th. Cathay General Bancorp’s payout ratio is currently 44.04%.
In related news, Vice Chairman Peter Wu sold 33,045 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $44.36, for a total value of $1,465,876.20. Following the completion of the sale, the insider now owns 12,976 shares of the company’s stock, valued at $575,615.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kim R. Bingham sold 3,800 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $44.71, for a total transaction of $169,898.00. Following the completion of the sale, the executive vice president now owns 21,803 shares in the company, valued at $974,812.13. The disclosure for this sale can be found here. Insiders sold 56,845 shares of company stock valued at $2,474,174 in the last ninety days. Corporate insiders own 5.76% of the company’s stock.
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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