Cathay General Bancorp (CATY) Getting Somewhat Favorable Media Coverage, Study Shows
Press coverage about Cathay General Bancorp (NASDAQ:CATY) has trended somewhat positive on Saturday, Accern Sentiment reports. The research group identifies positive and negative press coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Cathay General Bancorp earned a news sentiment score of 0.14 on Accern’s scale. Accern also gave news coverage about the bank an impact score of 46.3531107754952 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
Here are some of the media headlines that may have effected Accern Sentiment Analysis’s rankings:
- Cathay General Bancorp (CATY) Lowered to Hold at Zacks Investment Research (americanbankingnews.com)
- Cathay General Bancorp (CATY) Upgraded to “Buy” at Zacks Investment Research (americanbankingnews.com)
- Cathay General Bancorp (CATY) Scheduled to Post Quarterly Earnings on Tuesday (americanbankingnews.com)
- Zacks: Brokerages Anticipate Cathay General Bancorp (CATY) Will Announce Quarterly Sales of $137.70 Million (americanbankingnews.com)
- Cathay General Bancorp (CATY) Earns “Buy” Rating from BMO Capital Markets (americanbankingnews.com)
CATY has been the subject of a number of recent research reports. Piper Jaffray Companies reissued a “buy” rating and issued a $42.00 price target on shares of Cathay General Bancorp in a research note on Wednesday, July 12th. Zacks Investment Research raised shares of Cathay General Bancorp from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research report on Monday, September 18th. BMO Capital Markets reaffirmed a “buy” rating and set a $44.00 price objective on shares of Cathay General Bancorp in a research report on Thursday, October 5th. SunTrust Banks, Inc. assumed coverage on shares of Cathay General Bancorp in a research report on Friday, August 18th. They issued a “hold” rating and a $39.00 price target for the company. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $37.00 price target on shares of Cathay General Bancorp in a research report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Cathay General Bancorp presently has an average rating of “Hold” and an average target price of $41.57.
Shares of Cathay General Bancorp (NASDAQ:CATY) traded down 0.40% during midday trading on Friday, hitting $40.28. 332,223 shares of the stock were exchanged. The firm has a market cap of $3.25 billion, a P/E ratio of 16.58 and a beta of 1.31. Cathay General Bancorp has a 12-month low of $28.84 and a 12-month high of $41.11. The firm has a 50 day moving average of $37.84 and a 200 day moving average of $37.49.
Cathay General Bancorp (NASDAQ:CATY) last posted its earnings results on Wednesday, July 19th. The bank reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.03. The company had revenue of $123.50 million during the quarter, compared to analyst estimates of $129.10 million. Cathay General Bancorp had a return on equity of 10.54% and a net margin of 35.30%. During the same period in the previous year, the company earned $0.44 EPS. Equities analysts forecast that Cathay General Bancorp will post $2.45 EPS for the current fiscal year.
Cathay General Bancorp Company Profile
Cathay General Bancorp is a bank holding company. The Company holds Cathay Bank, a California state-chartered commercial bank (the Bank); seven limited partnerships investing in affordable housing investments; GBC Venture Capital, Inc, and Asia Realty Corp. The Company also owns the common stock of five statutory business trusts created for issuing capital securities.
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