Company shares last traded at $41.80 just above $39.75, the stock’s 50 day moving average and quite a bit above the 200 day moving average of $37.85. The 50 day moving average went up by +5.15% and the 200 day average went up by +10.44%. Trading volume for Cathay General Bancorp was 445K by the end of trading on Tuesday. Volume was up 36.83% over the stocks average daily volume.
Short traders are feeling a little more bearish on shares of the company of late if you pay attention to the motion in short interest. The stock realized a rise in short interest from September 29, 2017 to October 13, 2017 of 3.10%. Short interest grew from 1,284,084 to 1,323,894 over that timeframe. With short interest at 1,323,894 and short average daily volume at 273,975, the short-interest ratio is 5.0 and the percentage of shorted shares was 0.02% on October 13.
Here are a few substantial investment firms who have updated their positions. As of quarter end Nationwide Fund Advisors had sold 947 shares trimming its stake by 0.5%. The value of the company’s investment in Cathay General Bancorp increased from $7,140,000 to $7,525,000 increasing 5.4% for the reporting period. As of the end of the quarter First Trust Advisors Lp had disposed of a total of 31,105 shares trimming its holdings by 13.9%. The value in dollars went from $8,514,000 to $7,768,000 a change of 8.8% quarter over quarter.
Peregrine Capital Management LLC augmented its investment by buying 5,788 shares an increase of 2.1% from 06/30/2017 to 09/30/2017. Peregrine Capital Management LLC claims 285,510 shares with a value of $11,478,000. The value of the position overall is up by 8.1%. Aperio Group, LLC expanded its ownership by buying 159 shares an increase of 0.7%. Aperio Group, LLC now holds 21,618 shares valued at $869,000. The total value of its holdings increased 6.8%.
Equity analyst SunTrust Robinson Humphrey added the stock to its research portfolio with a rating of “Hold”.
In the market the company is trading up by 1.33% since yesterday’s close of $41.80. Additionally Cathay General Bancorp recently declared a dividend paid on Monday the 11th of September 2017. The dividend was $0.210 per share for the quarter which is $0.84 annualized. The dividend yield was $2.01. The ex-dividend date was Wednesday the 30th of August 2017.
The company’s P/E ratio is 17.20 and the market value is 3.38B. In the latest earnings report the EPS was $2.43 and is projected to be $2.48 for the current year with 80,788,000 shares outstanding. Next quarter’s EPS is forecasted at $0.67 with next year’s EPS anticipated to be $2.70.
Cathay General Bancorp, launched on March 1, 1990, 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..