In a filing, Cathay General Bancorp revealed 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 $7.06 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 $0.6 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 fall -1.51% to $34.54. Over the last five days, the stock has lost -7.30%. Cathay General Bancorp shares have fallen nearly -22.50% since the year began. Nevertheless, the stocks have risen 5.24% 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 04/16/24. SMA at 50 days reached $38.32, while 200 days put it at $37.72. A total of 0.33 million shares were traded, compared to the trading of 0.25 million shares in the previous session.
Levels Of Support And Resistance For CATY Stock
The 24-hour chart illustrates a support level at 34.23, which if violated will result in even more drops to 33.92. On the upside, there is a resistance level at 34.85. A further resistance level may holdings at 35.16. The Relative Strength Index (RSI) on the 14-day chart is 31.95, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.35, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 92.62%. Stochastics %K at 12.27% indicates the stock is a buying.
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.
