November 29, 2016 - By whatsonthorold
Dunson Cheng, the Executive Chairman of Cathay General Bancorp, made a sale of 94,970 shares of the company, valued by the market at approximately $3,414,218 U.S Dollars, based on a stock price of $36.0 a share. He also unloaded 80,000 shares worth about $2,843,083 USD in the last month. Because it was a significant one deal, it’s not likely to stay disregarded one. Dunson Cheng currently owns 974,840 shares or 1.26% of Cathay General Bancorp’s market cap.
Out of 3 analysts covering Cathay Bancorp (NASDAQ:CATY), 1 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 33% are positive. $36 is the highest target while $32 is the lowest. The $32.67 average target is -8.15% below today’s ($35.57) stock price. Cathay Bancorp has been the topic of 4 analyst reports since July 22, 2015 according to StockzIntelligence Inc. As per Monday, July 11, the company rating was maintained by Wood. DA Davidson maintained the shares of CATY in a report on Thursday, April 21 with “Neutral” rating. RBC Capital Markets maintained it with “Outperform” rating and $33 target price in Thursday, January 21 report. The firm earned “Outperform” rating on Wednesday, July 22 by RBC Capital Markets.
Insitutional Activity: The institutional sentiment decreased to 1.06 in Q2 2016. Its down 0.08, from 1.14 in 2016Q1. The ratio is negative, as 11 funds sold all Cathay General Bancorp shares owned while 65 reduced positions. 22 funds bought stakes while 65 increased positions. They now own 50.44 million shares or 3.51% less from 52.27 million shares in 2016Q1.
Strs Ohio has invested 0% of its portfolio in Cathay General Bancorp (NASDAQ:CATY). Teachers Retirement Of The State Of Kentucky has 18,800 shares for 0.01% of their US portfolio. Renaissance Technologies Ltd Liability Corporation accumulated 99,271 shares or 0.01% of the stock. Blackrock Fund Advisors holds 0.02% or 3.78M shares in its portfolio. Engineers Gate Manager Lp owns 8,983 shares or 0.02% of their US portfolio. Bradley Foster & Sargent Inc Ct has 0.03% invested in the company for 25,415 shares. Alpha Windward Lc holds 13,380 shares or 0.27% of its portfolio. Eagle Asset Mngmt holds 0.07% of its portfolio in Cathay General Bancorp (NASDAQ:CATY) for 342,368 shares. Comm Financial Bank holds 0.01% of its portfolio in Cathay General Bancorp (NASDAQ:CATY) for 19,330 shares. Wedge Capital L Limited Partnership Nc has 477,673 shares for 0.14% of their US portfolio. The Illinois-based Great Lakes Advsr Limited Liability Co has invested 0.04% in Cathay General Bancorp (NASDAQ:CATY). Schwab Charles Inv Mngmt Incorporated, a California-based fund reported 297,819 shares. Stevens Capital Mgmt Limited Partnership has 62,534 shares for 0.07% of their US portfolio. 1832 Asset Ltd Partnership holds 0.06% or 540,728 shares in its portfolio. Arcadia Invest Management Mi last reported 0.01% of its portfolio in the stock.
Insider Transactions: Since August 30, 2016, the stock had 0 buys, and 5 sales for $5.33 million net activity. Shares for $939,042 were sold by WU PETER. CHEN HENG W sold $1.55 million worth of stock or 44,000 shares. CHENG DUNSON K had sold 12,500 shares worth $438,855 on Tuesday, November 15.
The stock decreased 2.12% or $0.77 during the last trading session, hitting $35.57. About 528,225 shares traded hands or 40.35% up from the average. Cathay General Bancorp (NASDAQ:CATY) has risen 17.23% since April 25, 2016 and is uptrending. It has outperformed by 11.21% the S&P500.
Cathay General Bancorp is a bank holding company. The company has a market cap of $2.83 billion. The Firm holds Cathay Bank, a California state-chartered commercial bank ; approximately seven limited partnerships investing in affordable housing investments, in which the Bank is the sole limited partner; GBC Venture Capital, Inc, and Asia Realty Corp. It has a 16.97 P/E ratio. It also owns the common stock of over five statutory business trusts created for issuing capital securities.
According to Zacks Investment Research, “Cathay General Bancorp is the one-bank holding company for Cathay Bank, a California state-chartered bank. Cathay Bank offers a wide range of financial services. Cathay Bank currently operates branches in California, New York State, Massachusetts, Houston, Texas, Washington State, and representative offices in Hong Kong and Shanghai, China. In addition, Cathay Bank’s subsidiaries, Cathay Investment Company and GBC Investment & Consulting Company, Inc., each maintain an office in Taipei.”
Analysts await Cathay General Bancorp (NASDAQ:CATY) to report earnings on January, 18. They expect $0.61 EPS, up 19.61% or $0.10 from last year’s $0.51 per share. CATY’s profit will be $48.53 million for 14.58 P/E if the $0.61 EPS becomes a reality. After $0.58 actual EPS reported by Cathay General Bancorp for the previous quarter, Wall Street now forecasts 5.17% EPS growth.
More notable recent Cathay General Bancorp (NASDAQ:CATY) news were published by: Prnewswire.com which released: “Cathay General Bancorp Announces Agreement To Acquire SinoPac Bancorp” on July 08, 2016, also Prnewswire.com with their article: “Cathay General Bancorp Announces Retirement of Dunson K. Cheng and Appointment ..” published on August 19, 2016, Nasdaq.com published: “Cathay General Bancorp Reaches Analyst Target Price” on November 11, 2016. More interesting news about Cathay General Bancorp (NASDAQ:CATY) were released by: Streetinsider.com and their article: “Form 4 CATHAY GENERAL BANCORP For: Nov 23 Filed by: CHENG DUNSON K” published on November 29, 2016 as well as Nasdaq.com‘s news article titled: “Ex-Dividend Reminder: Cathay General Bancorp, Safety Insurance Group and ..” with publication date: August 26, 2016.
Cathay General Bancorp, incorporated on March 1, 1990, is a bank holding company. The Firm holds Cathay Bank, a California state-chartered commercial bank (the Bank); approximately seven limited partnerships investing in affordable housing investments, in which the Bank is the sole limited partner; GBC Venture Capital, Inc, and Asia Realty Corp. The Firm also owns the common stock of over five statutory business trusts created for issuing capital securities.
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