Somewhat Positive Media Coverage Somewhat Unlikely to Affect Cathay General Bancorp (CATY) Stock Price

News stories about Cathay General Bancorp (NASDAQ:CATY) have trended somewhat positive on Friday, Accern Sentiment Analysis reports. The research group scores the sentiment of press coverage by monitoring more than 20 million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Cathay General Bancorp earned a news sentiment score of 0.03 on Accern’s scale. Accern also assigned news coverage about the bank an impact score of 46.1788707529261 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.

These are some of the news articles that may have impacted Accern Sentiment Analysis’s scoring:

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Several equities research analysts have recently issued reports on CATY shares. BidaskClub cut shares of Cathay General Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, March 27th. Zacks Investment Research cut shares of Cathay General Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday. Sandler O’Neill reaffirmed a “hold” rating and set a $45.00 price objective on shares of Cathay General Bancorp in a research report on Thursday, January 4th. ValuEngine cut shares of Cathay General Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Finally, Piper Jaffray reissued a “buy” rating and issued a $51.00 price target on shares of Cathay General Bancorp in a research report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. Cathay General Bancorp currently has a consensus rating of “Hold” and an average price target of $44.75.

CATY traded down $1.19 on Friday, reaching $38.98. The company had a trading volume of 327,261 shares, compared to its average volume of 354,999. Cathay General Bancorp has a 1 year low of $34.00 and a 1 year high of $45.59. The stock has a market cap of $3,239.02, a PE ratio of 15.85, a price-to-earnings-growth ratio of 1.58 and a beta of 1.38. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.04 and a quick ratio of 1.04.

Cathay General Bancorp (NASDAQ:CATY) last announced its quarterly earnings results on Tuesday, January 30th. The bank reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.02). Cathay General Bancorp had a net margin of 28.74% and a return on equity of 10.46%. The company had revenue of $143.51 million during the quarter, compared to analysts’ expectations of $139.43 million. During the same period last year, the firm earned $0.60 earnings per share. Cathay General Bancorp’s revenue was up 21.8% on a year-over-year basis. equities analysts expect that Cathay General Bancorp will post 3.17 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, March 12th. Stockholders of record on Thursday, March 1st were issued a $0.24 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.46%. Cathay General Bancorp’s payout ratio is 39.02%.

In other news, insider Dunson K. Cheng sold 20,000 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $41.92, for a total value of $838,400.00. Following the completion of the sale, the insider now directly owns 97,124 shares of the company’s stock, valued at $4,071,438.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Kim R. Bingham sold 3,800 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were 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 directly owns 21,803 shares of the company’s stock, 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 over the last ninety days. Corporate insiders own 5.76% of the company’s stock.

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Cathay General Bancorp Company Profile

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.

Insider Buying and Selling by Quarter for Cathay General Bancorp (NASDAQ:CATY)

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