News coverage about Cathay General Bancorp (NASDAQ:CATY) has trended positive recently, according to Alpha One. The research firm, a service of Accern, identifies negative and positive media coverage by analyzing more than twenty million news and blog sources in real time. Alpha One ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Cathay General Bancorp earned a media sentiment score of 0.25 on Alpha One’s scale. Alpha One also assigned press coverage about the bank an impact score of 55 out of 100, meaning that recent media coverage is somewhat likely to have an impact on the stock’s share price in the next several days.
These are some of the news stories that may have effected AlphaOne Sentiment Analysis’s scoring:
- Sinopac sale of US unit to Cathay General at risk as deadline approaches (finance.yahoo.com)
- Sinopac’s U.S. unit sale may collapse if it doesn’t provide more details: source (reuters.com)
- Sinopac’s U.S. unit sale may collapse if it doesn’t provide more details – source (feeds.reuters.com)
- Cathay General Bancorp (NASDAQ:CATY) Trading Down – Short interest grew by 10.01% (highlightpress.com)
- Short Interest in Cathay General Bancorp (CATY) Grows By 10.0% (americanbankingnews.com)
A number of research firms recently issued reports on CATY. BidaskClub raised shares of Cathay General Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday. Zacks Investment Research raised shares of Cathay General Bancorp from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Thursday, June 1st. Keefe, Bruyette & Woods set a $37.00 price objective on shares of Cathay General Bancorp and gave the stock a “hold” rating in a report on Monday, May 22nd. Finally, Piper Jaffray Companies dropped their price objective on shares of Cathay General Bancorp from $43.00 to $42.00 and set an “overweight” rating on the stock in a report on Monday, April 17th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Cathay General Bancorp has an average rating of “Buy” and a consensus price target of $37.75.
Cathay General Bancorp (NASDAQ:CATY) traded down 0.49% during trading on Friday, hitting $38.78. 984,836 shares of the company were exchanged. The stock has a market capitalization of $3.10 billion, a PE ratio of 17.39 and a beta of 1.25. Cathay General Bancorp has a 1-year low of $26.27 and a 1-year high of $40.83. The firm’s 50 day moving average price is $37.62 and its 200-day moving average price is $37.72.
Cathay General Bancorp (NASDAQ:CATY) last issued its quarterly earnings results on Wednesday, April 19th. The bank reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.01. Cathay General Bancorp had a net margin of 32.94% and a return on equity of 9.83%. The company had revenue of $118.83 million for the quarter, compared to the consensus estimate of $119.30 million. During the same quarter in the prior year, the company earned $0.57 EPS. Equities analysts predict that Cathay General Bancorp will post $2.40 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, June 12th. Investors of record on Thursday, June 1st were issued a $0.21 dividend. The ex-dividend date was Tuesday, May 30th. This represents a $0.84 annualized dividend and a yield of 2.17%. Cathay General Bancorp’s dividend payout ratio (DPR) is presently 37.67%.
In related news, Vice Chairman Anthony M. Tang sold 50,000 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 301,400 shares in the company, valued at approximately $11,456,214. The sale was disclosed in a filing with the SEC, which is available through this link. 5.76% of the stock is currently owned by corporate insiders.
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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