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These Numbers Show Favorable Signs for Cathay General Bancorp (CATY)

Cathay General Bancorp (NASDAQ: CATY) is -4.23% lower on its value in year-to-date trading and has touched a low of $36.21 and a high of $48.88 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The CATY stock was last observed hovering at around $40.43 in the last trading session, with the day’s gains setting it 0.74% off its average median price target of $45.50 for the next 12 months. It is also 25.15% off the consensus price target high of $55.00 offered by 6 analysts, but current levels are 4.26% higher than the price target low of $43.00 for the same period.

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Currently trading at $41.17, the stock is 3.05% and 3.29% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.32 million and changing 1.83% at the moment leaves the stock -4.35% off its SMA200. CATY registered 11.21% gain for a year compared to 6-month loss of -7.38%.

The stock witnessed a 2.67% gain in the last 1 month and extending the period to 3 months gives it a 0.17%, and is -0.19% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.40% over the week and 2.40% over the month.

Cathay General Bancorp (CATY) has around 1156 employees, a market worth around $3.12B and $675.10M in sales. Current P/E ratio is 10.64 and Fwd P/E is 7.95. Profit margin for the company is 44.40%. Distance from 52-week low is 13.70% and -15.77% from its 52-week high. The company has generated returns on investments over the last 12 months (20.50%).

Cathay General Bancorp (CATY) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Cathay General Bancorp (CATY) is a “Hold”. 6 analysts offering their recommendations for the stock have an average rating of 2.60, where 5 rate it as a Hold and 0 think it is a “Overweight”. 1 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Cathay General Bancorp is expected to release its quarterly report on 10/24/2022.The EPS is expected to grow by 32.30% this year.

Cathay General Bancorp (CATY) Top Institutional Holders

The shares outstanding are 75.33M, and float is at 71.09M with Short Float at 2.13%.

Cathay General Bancorp (CATY) Insider Activity

A total of 53 insider transactions have happened at Cathay General Bancorp (CATY) in the last six months, with sales accounting for 22 and purchases happening 31 times. The most recent transaction is an insider sale by BINGHAM KIM R,the company’sEVP, Chief Risk Officer. SEC filings show that BINGHAM KIM R sold 3,000 shares of the company’s common stock on Oct 29 at a price of $42.68 per share for a total of $0.13 million. Following the sale, the insider now owns 32526.0 shares.

Cathay General Bancorp disclosed in a document filed with the SEC on Aug 27 that WU PETER (Vice Chairman) sold a total of 20,000 shares of the company’s common stock. The trade occurred on Aug 27 and was made at $39.74 per share for $0.79 million. Following the transaction, the insider now directly holds 0.4 million shares of the CATY stock.

Cathay General Bancorp (CATY): Who are the competitors?

The company’s main competitors (and peers) include Sierra Bancorp (BSRR) that is trading -8.74% down over the past 12 months and First Republic Bank (FRC) that is -19.06% lower over the same period. Central Valley Community Bancorp (CVCY) is -26.24% down on the 1-year trading charts.

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