News stories about Cathay General Bancorp (NASDAQ:CATY) have trended very positive recently, Accern Sentiment reports. The research group rates the sentiment of news coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of 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 0.56 on Accern’s scale. Accern also gave news articles about the bank an impact score of 82 out of 100, indicating that recent news coverage is very likely to have an impact on the company’s share price in the next few days.
Here are some of the media stories that may have impacted Accern Sentiment’s analysis:
- ‘Weapons stash found at Champs-Elysees attacker’s home’ (ekosvoice.com)
- Head to Head Survey: Meta Financial Group (CASH) and Cathay General Bancorp (CATY) (americanbankingnews.com)
- Financial Comparison: BankUnited (BKU) vs. Cathay General Bancorp (CATY) (americanbankingnews.com)
- BidaskClub Upgrades Cathay General Bancorp (CATY) to Hold (americanbankingnews.com)
- Sinopac sale of U.S. unit to Cathay General at risk as deadline approaches (reuters.com)
Several research firms recently weighed in on CATY. Zacks Investment Research downgraded Cathay General Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday. BidaskClub raised Cathay General Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Keefe, Bruyette & Woods set a $37.00 target price on Cathay General Bancorp and gave the stock a “hold” rating in a report on Monday, May 22nd. Finally, Piper Jaffray Companies cut their target price on Cathay General Bancorp from $43.00 to $42.00 and set an “overweight” rating on the stock in a 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. Cathay General Bancorp has a consensus rating of “Hold” and a consensus price target of $37.75.
Shares of Cathay General Bancorp (NASDAQ CATY) traded down 1.32% during mid-day trading on Tuesday, reaching $38.22. The company had a trading volume of 309,089 shares. The company has a market capitalization of $3.05 billion, a P/E ratio of 17.14 and a beta of 1.25. Cathay General Bancorp has a 12-month low of $26.27 and a 12-month high of $40.83. The firm has a 50-day moving average of $37.64 and a 200-day moving average of $37.78.
Cathay General Bancorp (NASDAQ:CATY) last issued its earnings results on Wednesday, April 19th. The bank reported $0.61 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.01. The business had revenue of $118.83 million during the quarter, compared to analysts’ expectations 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 business earned $0.57 earnings per share. On average, equities analysts anticipate that Cathay General Bancorp will post $2.40 earnings per share for the current fiscal year.
The firm also recently announced 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 2.20%. The ex-dividend date was Tuesday, May 30th. Cathay General Bancorp’s dividend payout ratio (DPR) is 37.67%.
In other news, Vice Chairman Anthony M. Tang sold 50,000 shares of the stock in a transaction dated 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 in the company, valued at $11,456,214. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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.
Receive News & Ratings for Cathay General Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cathay General Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.