Notable Reporting: Is Cathay General Bancorp a Buy? The Stock Reaches 52-Week High Today

Notable Reporting: Is Cathay General Bancorp a Buy? The Stock Reaches 52 Week High Today

The stock of Cathay General Bancorp (NASDAQ:CATY) hit a new 52-week high and has $55.47 target or 54.00% above today’s $36.02 share price. The 9 months bullish chart indicates low risk for the $2.96B company. The 1-year high was reported on Nov, 14 by Barchart.com. If the $55.47 price target is reached, the company will be worth $1.60 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 67,655 shares traded hands. Cathay General Bancorp (NASDAQ:CATY) has risen 16.56% since April 12, 2016 and is uptrending. It has outperformed by 11.58% the S&P500.

Cathay General Bancorp (NASDAQ:CATY) Ratings Coverage

Out of 3 analysts covering Cathay Bancorp (NASDAQ:CATY), 1 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 33% are positive. Cathay Bancorp has been the topic of 4 analyst reports since July 22, 2015 according to StockzIntelligence Inc. Wood maintained the shares of CATY in a report on Monday, July 11 with “Market Perform” rating. As per Wednesday, July 22, the company rating was maintained by RBC Capital Markets. The stock of Cathay General Bancorp (NASDAQ:CATY) earned “Outperform” rating by RBC Capital Markets on Thursday, January 21. The company was maintained on Thursday, April 21 by DA Davidson.

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.”

Insitutional Activity: The institutional sentiment increased to 1.14 in Q2 2016. Its up 0.35, from 0.79 in 2016Q1. The ratio is positive, 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.
Guardian Trust Company has invested 0% of its portfolio in Cathay General Bancorp (NASDAQ:CATY). Price T Rowe Assoc Inc Md owns 23,466 shares or 0% of their US portfolio. Walleye Trading Limited Liability Com accumulated 19,376 shares or 0% of the stock. Eagle Asset Mgmt last reported 0.07% of its portfolio in the stock. Shelton Capital accumulated 7,638 shares or 0.02% of the stock. Tfs Cap Ltd Liability Company accumulated 21,151 shares or 0.11% of the stock. Vanguard last reported 6.24M shares in the company. Airain Ltd accumulated 0.02% or 11,582 shares. Mutual Of America Cap Mngmt Ltd holds 0.03% or 53,920 shares in its portfolio. Usa Portformulas reported 15,113 shares or 0.12% of all its holdings. Prudential Fincl has 0.02% invested in the company for 337,829 shares. California State Teachers Retirement accumulated 0.01% or 155,945 shares. Zurcher Kantonalbank (Zurich Cantonalbank) accumulated 0% or 1,689 shares. Thrivent Fincl For Lutherans accumulated 0.03% or 205,780 shares. Principal Financial Grp holds 280,471 shares or 0.01% of its portfolio.

Insider Transactions: Since August 30, 2016, the stock had 0 insider purchases, and 1 insider sale for $939,042 net activity. WU PETER had sold 30,000 shares worth $939,042.

More notable recent Cathay General Bancorp (NASDAQ:CATY) news were published by: Nasdaq.com which released: “Cathay General Bancorp Reaches Analyst Target Price” on November 11, 2016, also Prnewswire.com with their article: “Cathay General Bancorp Announces Agreement To Acquire SinoPac Bancorp” published on July 08, 2016, Prnewswire.com published: “Cathay General Bancorp Announces Retirement of Dunson K. Cheng and Appointment …” on August 19, 2016. More interesting news about Cathay General Bancorp (NASDAQ:CATY) were released by: Nasdaq.com and their article: “Ex-Dividend Reminder: Cathay General Bancorp, Safety Insurance Group and …” published on August 26, 2016 as well as Bizjournals.com‘s news article titled: “​Cathay General Bancorp to buy SinoPac Bancorp for $340 million” with publication date: July 11, 2016.

CATY Company Profile

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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