Insider Selling: Cathay General Bancorp (NASDAQ:CATY) Director Sells $185,650.00 in Stock

Cathay General Bancorp (NASDAQ:CATY) Director Jane H. Jelenko sold 5,000 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $37.13, for a total value of $185,650.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Shares of CATY opened at $36.78 on Monday. Cathay General Bancorp has a 52 week low of $31.89 and a 52 week high of $40.11. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market capitalization of $2.93 billion, a price-to-earnings ratio of 11.01 and a beta of 1.27. The business’s fifty day moving average price is $35.56 and its two-hundred day moving average price is $35.25.

Cathay General Bancorp (NASDAQ:CATY) last posted its quarterly earnings results on Wednesday, October 16th. The bank reported $0.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.03. Cathay General Bancorp had a return on equity of 12.68% and a net margin of 34.23%. The business had revenue of $157.39 million for the quarter, compared to analyst estimates of $156.07 million. During the same period last year, the company earned $0.85 EPS. As a group, research analysts forecast that Cathay General Bancorp will post 3.49 EPS for the current year.

Several large investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of Cathay General Bancorp by 5.6% in 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 last quarter. Northern Trust Corp boosted its position in shares of Cathay General Bancorp by 5.4% in the 2nd quarter. Northern Trust Corp now owns 2,495,947 shares of the bank’s stock worth $89,629,000 after purchasing an additional 127,030 shares during the last quarter. Nuveen Asset Management LLC boosted its position in shares of Cathay General Bancorp by 81.2% in 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 last quarter. LSV Asset Management boosted its position in shares of Cathay General Bancorp by 15.6% in 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 last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Cathay General Bancorp by 13.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,249,122 shares of the bank’s stock worth $43,388,000 after purchasing an additional 150,620 shares during the last quarter. Institutional investors and hedge funds own 69.36% of the company’s stock.

CATY has been the topic of a number of recent research reports. Wedbush decreased their price objective on Cathay General Bancorp from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. BidaskClub upgraded Cathay General Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. Zacks Investment Research upgraded Cathay General Bancorp from a “strong sell” rating to a “hold” rating in a research report on Monday, October 21st. Finally, ValuEngine upgraded Cathay General Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $41.50.

Cathay General Bancorp Company Profile

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.

Further Reading: Trading Penny Stocks

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

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.