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 $7.14 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 -4.72% to $34.89. Over the last five days, the stock has gained 1.01%. Cathay General Bancorp shares have fallen nearly -21.72% since the year began. Nevertheless, the stocks have risen 5.06% 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 04/23/24. SMA at 50 days reached $37.93, while 200 days put it at $37.79. A total of 0.83 million shares were traded, compared to the trading of 0.34 million shares in the previous session.
Levels Of Support And Resistance For CATY Stock
The 24-hour chart illustrates a support level at 34.06, which if violated will result in even more drops to 33.23. On the upside, there is a resistance level at 35.54. A further resistance level may holdings at 36.20. The Relative Strength Index (RSI) on the 14-day chart is 39.87, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.20, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 70.72%. Stochastics %K at 54.49% indicates the stock is a holding.
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.
