Institutional Investor Sentiment About Cathay General Bancorp (NASDAQ:CATY) Increased

May 17, 2018 - By James Guidry

Cathay General Bancorp (NASDAQ:CATY) Logo

Sentiment for Cathay General Bancorp (NASDAQ:CATY)

Cathay General Bancorp (NASDAQ:CATY) institutional sentiment decreased to 1.23 in 2017 Q4. Its down -0.49, from 1.72 in 2017Q3. The ratio fall, as 100 active investment managers increased and started new positions, while 81 reduced and sold equity positions in Cathay General Bancorp. The active investment managers in our partner’s database now hold: 53.28 million shares, down from 53.66 million shares in 2017Q3. Also, the number of active investment managers holding Cathay General Bancorp in their top 10 positions was flat from 0 to 0 for the same number . Sold All: 14 Reduced: 67 Increased: 74 New Position: 26.

Cathay General Bancorp operates as the holding firm for Cathay Bank that offers various commercial banking services and products to individuals, professionals, and small to medium-sized businesses in the United States. The company has market cap of $3.43 billion. It offers various deposit products, including passbook accounts, checking accounts, money market deposit accounts, certificates of deposits, individual retirement accounts, and public funds deposits. It has a 18.01 P/E ratio. The companyÂ’s loan portfolio consists of commercial mortgage loans, commercial loans, small business administration loans, residential mortgage loans, real estate construction loans, and home equity lines of credit, as well as installment loans to individuals for automobile, household, and other consumer expenditures.

The stock increased 0.74% or $0.31 during the last trading session, reaching $42.18. About 191,489 shares traded. Cathay General Bancorp (NASDAQ:CATY) has risen 8.54% since May 17, 2017 and is uptrending. It has underperformed by 3.01% the S&P500.

Analysts await Cathay General Bancorp (NASDAQ:CATY) to report earnings on July, 18. They expect $0.87 earnings per share, up 35.94 % or $0.23 from last year’s $0.64 per share. CATY’s profit will be $70.68M for 12.12 P/E if the $0.87 EPS becomes a reality. After $0.78 actual earnings per share reported by Cathay General Bancorp for the previous quarter, Wall Street now forecasts 11.54 % EPS growth.

Boyer & Corporon Wealth Management Llc holds 1.91% of its portfolio in Cathay General Bancorp for 111,084 shares. Hillcrest Asset Management Llc owns 206,111 shares or 1.62% of their US portfolio. Moreover, Opus Capital Group Llc has 0.7% invested in the company for 75,935 shares. The Texas-based Smith Graham & Co. Investment Advisors Lp has invested 0.59% in the stock. Chicago Equity Partners Llc, a Illinois-based fund reported 242,780 shares.

Since January 1, 0001, it had 0 insider purchases, and 7 insider sales for $6.89 million activity.

Cathay General Bancorp (NASDAQ:CATY) Ratings Coverage

Ratings analysis reveals 38% of Cathay General Bancorp’s analysts are positive. Out of 8 Wall Street analysts rating Cathay General Bancorp, 3 give it “Buy”, 0 “Sell” rating, while 5 recommend “Hold”. The lowest target is $4300 while the high is $51.0. The stock’s average target of $45.56 is 8.01% above today’s ($42.18) share price. CATY was included in 18 notes of analysts from November 28, 2017. Keefe Bruyette & Woods maintained it with “Hold” rating and $4600 target in Wednesday, April 18 report. The stock has “Hold” rating by Keefe Bruyette & Woods on Thursday, December 21. Piper Jaffray maintained it with “Buy” rating and $5000 target in Wednesday, April 18 report. RBC Capital Markets maintained it with “Buy” rating and $50.0 target in Tuesday, January 30 report. The stock of Cathay General Bancorp (NASDAQ:CATY) earned “Hold” rating by BMO Capital Markets on Monday, December 18. The rating was maintained by SunTrust with “Hold” on Tuesday, November 28. The firm has “Hold” rating by BMO Capital Markets given on Wednesday, April 18. The rating was maintained by Sandler O’Neill with “Hold” on Thursday, January 4. The firm has “Hold” rating by BMO Capital Markets given on Tuesday, January 30. RBC Capital Markets maintained the shares of CATY in report on Wednesday, April 18 with “Buy” rating.

Another recent and important Cathay General Bancorp (NASDAQ:CATY) news was published by Streetinsider.com which published an article titled: “Wedbush Upgrades Cathay General Bancorp (CATY) to Outperform” on May 02, 2018.

Cathay General Bancorp (NASDAQ:CATY) Institutional Positions Chart

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