Cathay General Bancorp (NASDAQ:CATY) does about 282.59K shares in volume on a normal day but saw 279350 shares change hands in Friday trading. The company now has a market cap of 3.33B USD. Its current market price is $44.84, marking an increase of 1.08% compared to the previous close of $44.36. The 52 week high reached by this stock is $48.60 whilst the lowest price level in 52 weeks is $37.37. The script in recent trading has seen the stock touch a high of $44.96 and a low of $44.21.
Cathay General Bancorp (CATY) has a 20-day trading average at $43.90 and the current price is -7.73% off the 52-week high compared with 19.99% distance from its 52-week low. The 50-day simple moving average of the closing price is $42.54 and its 200-day simple moving average is $42.03. If we look at the stock’s price movements over the week, volatility stands at 2.07%, which increases to 2.54% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 59.65 to suggest the stock is neutral.
The consensus objective for the share price is $47.17, suggesting that the stock has a potential upside of 4.94% over the period.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on July 14, 2022 when Stephens initiated the stock to “Equal-Weight” and issued a price target of $45. Wedbush upgraded its price target at $47-$49.
The current price level is 2.44%, 5.47%, and 6.75% away from its SMA20, SMA50, and SMA200 respectively, with the CATY price moving above the 50-day SMA on February 17. Cathay General Bancorp (CATY) stock is up 2.33% over the week and 7.38% over the past month. Its price is 9.93% year-to-date and -7.89% over the past year.
The stock last released its quarterly earnings report for quarter ended 12/30/2022, with the company’s earnings per share (EPS) of $1.33 below consensus estimates by -$0.04. The company’s next earnings report is expected on 04/24/2023, with forecasts estimating quarterly EPS at $1.32 and $5.28 for whole year. Expected sales for next quarter are $210.55 million, which analysts say will come at $843.24 million for the current fiscal year and next year at $850.95 million. In addition, estimates put the company’s current quarterly revenue at an average of $210.41 million.
To reach the target analysts have set, the stock logically needs to grow 4.94 percent from here.
Outstanding shares total 73.16M with insiders holding 5.40% of the shares and institutional holders owning 71.24% of the company’s common stock. The company has a return on investment of 20.50% and return on equity of 12.80%. The price to earnings ratio (P/E ratio) amounts to 9.25 while the forward price to earnings ratio is 8.49. The beta has a value of 1.17. Price to book ratio is 1.36 and price to sales ratio is 3.91.
According to a U.S. Securities and Exchange Commission filing, iShares Core S&P Mid Cap ETF has reduced its position in Cathay General Bancorp (CATY) to 2,314,335 shares, mirroring a recent drop by -0.19%. iShares Core S&P Mid Cap ETF dumped 4380.0 shares of Cathay General Bancorp common stock bringing its total worth to about $101.74 million at the end of recent close, SEC documents show. iShares Core S&P Mid Cap ETF isn’t the only investment manager who changed stakes and is followed by Vanguard Total Stock Market Index, which added 3368.0 shares to end up with 2,147,058 shares worth $94.38 million. Vanguard Small Cap Index Fund raise their holdings by 0.55% in the company over the course of the most recent quarter. It now holds a 2.46% position in Cathay General Bancorp thanks to 1.83 million shares amounting to $80.51 million.
