Piper Sandler analyst Matthew Clark maintained a Sell rating on Cathay General Bancorp (CATY – Research Report) today and set a price target of $34.00. The company’s shares closed yesterday at $36.62.
Clark covers the Financial sector, focusing on stocks such as Western Alliance, First Western Financial, and Cathay General Bancorp. According to TipRanks, Clark has an average return of 7.4% and a 53.54% success rate on recommended stocks.
Currently, the analyst consensus on Cathay General Bancorp is a Hold with an average price target of $40.80.
Based on Cathay General Bancorp’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $204.64 million and a net profit of $93.22 million. In comparison, last year the company earned a revenue of $189.78 million and had a net profit of $88.98 million
Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CATY in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Cathay General Bancorp (CATY) Company Description:
Cathay General Bancorp is a holding company, which engages in the provision of financial services. It offers commercial mortgage loans, commercial loans, small business administration loans, residential mortgage loans, real estate construction loans, home equity lines of credit, and installment loans to individuals for automobile, household, and other consumer expenditures. The company was founded in 1962 and is headquartered in Los Angeles, CA.
