Insider Selling: Cathay General Bancorp (NASDAQ:CATY) EVP Sells 1,500 Shares of Stock

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Cathay General Bancorp (NASDAQ:CATY) EVP Lisa L. Kim sold 1,500 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $37.12, for a total transaction of $55,680.00. Following the completion of the transaction, the executive vice president now owns 1,788 shares of the company’s stock, valued at approximately $66,370.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

CATY opened at $37.10 on Friday. The company has a 50-day moving average price of $35.34 and a 200 day moving average price of $35.22. Cathay General Bancorp has a twelve month low of $31.89 and a twelve month high of $40.11. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.35. The company has a market cap of $2.97 billion, a PE ratio of 11.11 and a beta of 1.27.

Cathay General Bancorp (NASDAQ:CATY) last posted its quarterly earnings results on Wednesday, October 16th. The bank reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. Cathay General Bancorp had a net margin of 34.23% and a return on equity of 12.68%. The business had revenue of $157.39 million during the quarter, compared to analysts’ expectations of $156.07 million. During the same quarter in the prior year, the company posted $0.85 EPS. As a group, sell-side analysts expect that Cathay General Bancorp will post 3.49 earnings per share for the current year.

A number of research analysts have weighed in on CATY shares. Wedbush decreased their price objective on shares of Cathay General Bancorp from $40.00 to $39.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. BidaskClub upgraded shares of Cathay General Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday. ValuEngine upgraded shares of Cathay General Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Zacks Investment Research upgraded shares of Cathay General Bancorp from a “strong sell” rating to a “hold” rating in a research report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $41.50.

Several institutional investors have recently bought and sold shares of the company. Nuveen Asset Management LLC boosted its position in shares of Cathay General Bancorp by 81.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,382,358 shares of the bank’s stock worth $85,550,000 after purchasing an additional 1,067,513 shares during the period. BlackRock Inc. boosted its position in shares of Cathay General Bancorp by 5.6% during the 2nd quarter. BlackRock Inc. now owns 11,010,837 shares of the bank’s stock worth $395,399,000 after purchasing an additional 588,789 shares during the period. GW&K Investment Management LLC boosted its position in shares of Cathay General Bancorp by 41.0% during the 3rd quarter. GW&K Investment Management LLC now owns 1,102,415 shares of the bank’s stock worth $38,292,000 after purchasing an additional 320,820 shares during the period. LSV Asset Management boosted its position in shares of Cathay General Bancorp by 15.6% during the 2nd quarter. LSV Asset Management now owns 1,384,125 shares of the bank’s stock worth $49,703,000 after purchasing an additional 186,579 shares during the period. Finally, State of New Jersey Common Pension Fund D purchased a new position in shares of Cathay General Bancorp during the 3rd quarter worth approximately $6,277,000. 71.33% of the stock is owned by institutional investors and hedge funds.

About Cathay General Bancorp

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.

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

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