In the past week, CATY stock has gone up by 1.17%, with a monthly gain of 7.03% and a quarterly surge of 7.55%. The volatility ratio for the week is 2.35%, and the volatility levels for the last 30 days are 2.66% for Cathay General Bancorp. The simple moving average for the past 20 days is 4.14% for CATY’s stock, with a 0.45% simple moving average for the past 200 days.
Is It Worth Investing in Cathay General Bancorp (NASDAQ: CATY) Right Now?
The price-to-earnings ratio for Cathay General Bancorp (NASDAQ: CATY) is above average at 7.07x. The 36-month beta value for CATY is also noteworthy at 1.17. There are mixed opinions on the stock, with 1 analysts rating it as a “buy,” 0 rating it as “overweight,” 5 rating it as “hold,” and 0 rating it as “sell.”
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The average price estimated by analysts for CATY is $39.67, which is $2.5 above than the current price. The public float for CATY is 68.85M, and at present, short sellers hold a 2.55% of that float. The average trading volume of CATY on September 18, 2023 was 321.27K shares.
CATY) stock’s latest price update
Cathay General Bancorp (NASDAQ: CATY)’s stock price has gone rise by 0.76 in comparison to its previous close of 36.89, however, the company has experienced a 1.17% increase in its stock price over the last five trading days. Seeking Alpha reported 2023-07-24 that Cathay General Bancorp (NASDAQ:CATY ) Q2 2023 Earnings Conference Call July 24, 2023 6:00 PM ET Company Participants Georgia Lo – Investor Relations Chang Liu – President and Chief Executive Officer Heng Chen – Executive Vice President and Chief Financial Officer Conference Call Participants Matthew Clark – Piper Sandler Andrew Terrell – Stephens Gary Tenner – D.A. Davidson Operator Good afternoon, ladies and gentlemen and welcome to Cathay General Bancorp’s Second Quarter of 2023 Earnings Conference Call.
Analysts’ Opinion of CATY
Many brokerage firms have already submitted their reports for CATY stocks, with Stephens repeating the rating for CATY by listing it as a “Equal-Weight.” The predicted price for CATY in the upcoming period, according to Stephens is $45 based on the research report published on July 14, 2022 of the previous year 2022.
CATY Trading at 3.45% from the 50-Day Moving Average
After a stumble in the market that brought CATY to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -21.42% of loss for the given period.
Volatility was left at 2.66%, however, over the last 30 days, the volatility rate increased by 2.35%, as shares surge +6.57% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +16.23% upper at present.
During the last 5 trading sessions, CATY rose by +1.17%, which changed the moving average for the period of 200-days by -17.55% in comparison to the 20-day moving average, which settled at $35.81. In addition, Cathay General Bancorp saw -8.87% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at CATY starting from Sun Richard, who purchase 6,100 shares at the price of $35.00 back on Apr 25. After this action, Sun Richard now owns 17,315 shares of Cathay General Bancorp, valued at $213,500 using the latest closing price.
TANG ANTHONY M, the Vice Chairman of Cathay General Bancorp, sale 5,000 shares at $45.20 during a trade that took place back on Feb 07, which means that TANG ANTHONY M is holding 208,964 shares at $226,000 based on the most recent closing price.
Stock Fundamentals for CATY
Equity return is now at value 15.40, with 1.70 for asset returns.
Conclusion
In summary, Cathay General Bancorp (CATY) has had a mixed performance as of late. Analysts have mixed opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
