A Director at Cathay General Bancorp (CATY) is Buying Shares

Yesterday, a Director at Cathay General Bancorp (CATY), Kelly Chan, bought shares of CATY for $18.73K.

In addition to Kelly Chan, one other CATY executive reported Buy trades in the last month.

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Based on Cathay General Bancorp’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $182 million and quarterly net profit of $69.76 million. In comparison, last year the company earned revenue of $161 million and had a net profit of $49.75 million. CATY’s market cap is $3.06B and the company has a P/E ratio of 13.08. Currently, Cathay General Bancorp has an average volume of 551.3K.

Based on 6 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $46.17, reflecting a 23.9% upside. Three different firms, including Wedbush and Piper Jaffray, currently also have a Buy rating on the stock.

In the last 30 days, insiders have sold $1.2M worth of CATY shares and purchased $18.73K worth of CATY shares. The insider sentiment on Cathay General Bancorp has been negative according to 46 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

Company insider trades are published daily on the SEC (Securities and Exchange Commission). DailyInsider’s proprietary algorithm analyzes these trades and selects the most attractive stocks based on influential insider trades each day. To subscribe to the DailyInsider visit this page.

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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 1990 and is headquartered in Los Angeles, CA.

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