Cathay General Bancorp (CATY) Receiving Somewhat Favorable Media Coverage, Report Shows
Headlines about Cathay General Bancorp (NASDAQ:CATY) have been trending somewhat positive recently, according to Accern Sentiment Analysis. Accern identifies positive and negative news coverage by reviewing more than twenty million blog and news sources. 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 media sentiment score of 0.19 on Accern’s scale. Accern also assigned news coverage about the bank an impact score of 44.1266645478689 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the next several days.
Here are some of the news articles that may have effected Accern’s rankings:
- Cathay General Bancorp (CATY) Rating Reiterated by BMO Capital Markets (americanbankingnews.com)
- Cathay General Bancorp (CATY) Given Hold Rating at Keefe, Bruyette & Woods (americanbankingnews.com)
- Brokerages Expect Cathay General Bancorp (CATY) Will Announce Quarterly Sales of $140.07 Million (americanbankingnews.com)
- Top-Rated Stocks: Cathay General Bancorp Sees Composite Rating Climb To 96 (finance.yahoo.com)
- Cathay General Bancorp (CATY) Receives Average Recommendation of “Hold” from Analysts (americanbankingnews.com)
A number of equities research analysts have commented on the company. BMO Capital Markets downgraded Cathay General Bancorp from an “outperform” rating to a “market perform” rating and set a $45.00 target price on the stock. in a research report on Thursday, November 30th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $44.00 price objective on shares of Cathay General Bancorp in a research note on Friday. Zacks Investment Research cut Cathay General Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Royal Bank of Canada lifted their price objective on Cathay General Bancorp from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, October 26th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $43.00 price objective on shares of Cathay General Bancorp in a research note on Friday, October 6th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $43.29.
Shares of Cathay General Bancorp (NASDAQ CATY) traded down $0.37 during midday trading on Friday, hitting $43.26. The stock had a trading volume of 198,247 shares, compared to its average volume of 428,820. Cathay General Bancorp has a twelve month low of $34.00 and a twelve month high of $45.54. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market capitalization of $3,470.00, a PE ratio of 17.59, a PEG ratio of 2.19 and a beta of 1.34.
Cathay General Bancorp (NASDAQ:CATY) last issued its quarterly earnings data on Wednesday, October 25th. The bank reported $0.61 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.01. Cathay General Bancorp had a return on equity of 10.60% and a net margin of 33.87%. The business had revenue of $146.20 million during the quarter, compared to analysts’ expectations of $135.27 million. During the same period in the previous year, the firm posted $0.58 earnings per share. The company’s revenue was up 29.8% on a year-over-year basis. analysts expect that Cathay General Bancorp will post 2.49 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 11th. Stockholders of record on Friday, December 1st were paid a $0.24 dividend. The ex-dividend date was Thursday, November 30th. This is a boost from Cathay General Bancorp’s previous quarterly dividend of $0.21. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.22%. Cathay General Bancorp’s payout ratio is presently 39.02%.
In related news, insider Dunson K. Cheng sold 50,000 shares of the business’s stock in a transaction on Monday, December 11th. The stock was 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 directly owns 119,591 shares of the company’s stock, valued at approximately $5,076,637.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Irwin Wong sold 6,059 shares of the business’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $42.00, for a total value of $254,478.00. The disclosure for this sale can be found here. Insiders sold 66,059 shares of company stock valued at $2,807,978 over the last ninety days. 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.
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