News headlines about Cathay General Bancorp (NASDAQ:CATY) have trended somewhat positive on Friday, Accern reports. The research firm rates the sentiment of media coverage by reviewing more than twenty million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Cathay General Bancorp earned a news sentiment score of 0.20 on Accern’s scale. Accern also assigned media stories about the bank an impact score of 44.7925669907308 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
A number of brokerages have recently issued reports on CATY. BidaskClub upgraded shares of Cathay General Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday. Zacks Investment Research upgraded shares of Cathay General Bancorp from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research report on Friday, January 5th. Piper Jaffray Companies reiterated a “buy” rating and set a $51.00 target price on shares of Cathay General Bancorp in a research report on Tuesday, January 9th. ValuEngine lowered shares of Cathay General Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Finally, Sandler O’Neill reiterated a “hold” rating and set a $45.00 target price on shares of Cathay General Bancorp in a research report on Thursday, January 4th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $44.50.
Cathay General Bancorp (NASDAQ CATY) opened at $44.08 on Friday. Cathay General Bancorp has a twelve month low of $34.00 and a twelve month high of $45.54. The firm has a market cap of $3,563.35, a P/E ratio of 17.92, a P/E/G ratio of 1.93 and a beta of 1.35. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.37.
In related news, COO Irwin Wong sold 10,000 shares of the stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $43.10, for a total value of $431,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Dunson K. Cheng sold 50,000 shares of the stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $42.45, for a total transaction of $2,122,500.00. Following the completion of the transaction, the insider now owns 119,591 shares in the company, valued at $5,076,637.95. The disclosure for this sale can be found here. Insiders sold 66,059 shares of company stock worth $2,807,978 over the last 90 days. 5.76% of the stock is currently owned by company insiders.
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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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