Cathay General Bancorp’s recent filing unveils that its Vice Chairman TANG ANTHONY M unloaded Company’s shares for reported $0.3 million on Jan 29 ’24. In the deal valued at $43.45 per share,7,000 shares were sold. As a result of this transaction, TANG ANTHONY M now holds 204,500 shares worth roughly $7.62 million.
Then, BINGHAM KIM R sold 6,000 shares, generating $224,543 in total proceeds. Upon selling the shares at $37.42, the EVP, Chief Risk Officer now owns 41,849 shares.
Before that, Sun Richard bought 6,100 shares. Cathay General Bancorp shares valued at $213,500 were divested by the Director at a price of $35.00 per share. As a result of the transaction, Sun Richard now holds 17,315 shares, worth roughly $0.65 million.
Piper Sandler downgraded its Cathay General Bancorp [CATY] rating to an Underweight from a a Neutral in a research note published recently. A number of analysts have revised their coverage, including Stephens’s analysts, who began to cover the stock in mid July with a ‘”an Equal-weight”‘ rating. Wedbush revised its rating on May 02, 2018. It rated CATY as “an Outperform” which previously was an “a Neutral”.
Price Performance Review of CATY
On Tuesday, Cathay General Bancorp [NASDAQ:CATY] saw its stock jump 1.19% to $37.26. Over the last five days, the stock has gained 1.58%. Cathay General Bancorp shares have fallen nearly -16.40% since the year began. Nevertheless, the stocks have risen 12.33% over the past one year. While a 52-week high of $45.72 was reached on 01/02/24, a 52-week low of $27.24 was recorded on 04/03/24. SMA at 50 days reached $38.99, while 200 days put it at $37.64. A total of 0.39 million shares were traded, compared to the trading of 0.24 million shares in the previous session.
Levels Of Support And Resistance For CATY Stock
The 24-hour chart illustrates a support level at 36.90, which if violated will result in even more drops to 36.53. On the upside, there is a resistance level at 37.47. A further resistance level may holdings at 37.67. The Relative Strength Index (RSI) on the 14-day chart is 44.61, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.39, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 62.89%. Stochastics %K at 24.74% indicates the stock is a holding.
How much short interest is there in Cathay General Bancorp?
A steep rise in short interest was recorded in Cathay General Bancorp stocks on Mar 28, 2024, dropping by -0.73 million shares to a total of 1.91 million shares. Yahoo Finance data shows the prior-month short interest on Feb 29, 2024 was 2.64 million shares. There was a decline of -38.22%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 3.58% of the overall stock float, the days-to-cover ratio (short ratio) fell to 4.08.
The most recent change occurred on October 26, 2017 when RBC Capital Mkts resumed its ‘”an Outperform”‘ rating for the stock and retained the price target to $45.
