Headlines about Cathay General Bancorp (NASDAQ:CATY) have trended somewhat negative recently, according to Accern Sentiment. The research group identifies negative and positive media coverage by analyzing more than 20 million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Cathay General Bancorp earned a news sentiment score of 0.00 on Accern’s scale. Accern also gave news stories about the bank an impact score of 26 out of 100, meaning that recent media coverage is unlikely to have an impact on the company’s share price in the near term.
Cathay General Bancorp (NASDAQ:CATY) opened at 37.05 on Monday. The company’s 50-day moving average is $37.63 and its 200 day moving average is $37.80. Cathay General Bancorp has a 12 month low of $26.27 and a 12 month high of $40.83. The firm has a market cap of $2.96 billion, a price-to-earnings ratio of 16.61 and a beta of 1.25.
Cathay General Bancorp (NASDAQ:CATY) last posted its quarterly earnings results on Wednesday, April 19th. The bank reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. The business had revenue of $118.83 million during the quarter, compared to analyst estimates of $119.30 million. Cathay General Bancorp had a net margin of 32.94% and a return on equity of 9.83%. During the same period in the prior year, the firm earned $0.57 earnings per share. On average, equities research analysts predict that Cathay General Bancorp will post $2.40 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, June 12th. Stockholders of record on Thursday, June 1st were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date was Tuesday, May 30th. Cathay General Bancorp’s dividend payout ratio (DPR) is 37.67%.
A number of brokerages have issued reports on CATY. Zacks Investment Research cut shares of Cathay General Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. BidaskClub raised shares of Cathay General Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Keefe, Bruyette & Woods set a $37.00 price objective on shares of Cathay General Bancorp and gave the company a “hold” rating in a research report on Monday, May 22nd. Finally, Piper Jaffray Companies cut their price objective on shares of Cathay General Bancorp from $43.00 to $42.00 and set an “overweight” rating for the company in a research report on Monday, April 17th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $37.75.
In other news, Vice Chairman Anthony M. Tang sold 50,000 shares of the stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $38.01, for a total value of $1,900,500.00. Following the completion of the sale, the insider now directly owns 301,400 shares of the company’s stock, valued at $11,456,214. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.76% of the stock is owned by corporate insiders.
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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