Cathay General Bancorp (NASDAQ:CATY) shares fell to a low of $41.78 before closing at $41.95. Intraday shares traded counted 0.45 million, which was -22.66% lower than its 30-day average trading volume of 365.35K. CATY’s previous close was $41.93 while the outstanding shares total 79.53M. The firm has a beta of 1.51, a 12-month trailing P/E ratio of 13.11, and a growth ratio of 1.64. The stock’s Relative Strength Index (RSI) is 52.90, with weekly volatility at 1.71% and ATR at 1.05. The CATY stock’s 52-week price range has touched low of $20.59 and a $45.19 high. The stock traded higher over the last trading session, gaining 0.05% on 06/03/21.
Investors have identified the Banks – Regional company Cathay General Bancorp as an interesting stock but before investments are made there, an in-depth look at its trading activities will have to be conducted. The share is trading with a market value of around $3.33 billion, the company now has both obstacles and catalysts that affect them and they came from their mode of operations. With the company affected by events currently, it is a perfect time to analyze the numbers behind the firm in order to come up with a rather realistic picture of what this stock is.
Cathay General Bancorp (CATY) Fundamentals that are to be considered.
CATY were able to record 90.81 million as free cash flow during the 07/21/2021 quarter of the year, this saw their quarterly net cash flow reduce by 333.22 million. In cash movements, the company had a total of 91.57 million as operating cash flow.
Potential earnings growth for Cathay General Bancorp (CATY)
In order to determine the future investment potential for this stock, we will have to analyze key trends that affect it. During the 07/21/2021 quarter of the year, Cathay General Bancorp recorded a total of 163.32 million in revenue. This figure implies that they witnessed a quarterly year/year change in their earnings with -14.34% coming in sequential stages and their sales for the 07/21/2021 quarter reducing by -2.62%.
What matters though is how it ends. When the core data for the company is broken down, then the stock sounds interesting. The company spent 21.5 million trying to sell their products during the last quarter, with the result yielding a gross income of 141.82 million. This allows shareholders to hold on to 79.53M with the recently reported earning now reading 0.92 cents per share. This is a figure that compared to analyst’s prediction for their 07/21/2021 (0.92 cents a share).
Having a look at the company’s valuation, the company is expected to record 3.47 total earnings per share during the next fiscal year. It is very important though to remember that the importance of trend far outweighs that of outlook. This analysis has been great and getting further updates on CATY sounds very interesting.
Is the stock of CATY attractive?
In related news, Executive Chairman, CHENG DUNSON K sold 11,975 shares of the company’s stock in a transaction that recorded on Feb 09. The sale was performed at an average price of 37.52, for a total value of 449,304. As the sale deal closes, the SEVP, Chief Admin Officer, WONG IRWIN now sold 6,200 shares of the company’s stock, valued at 186,000. Also, Vice Chairman, TANG ANTHONY M sold 5,000 shares of the company’s stock in a deal that was recorded on Dec 04. The shares were price at an average price of 30.00 per share, with a total market value of 150,000. Following this completion of acquisition, the Vice Chairman, TANG ANTHONY M now holds 3,322 shares of the company’s stock, valued at 98,358. In the last 6 months, insiders have changed their ownership in shares of company stock by 0.90%.
1 out of 4 analysts covering the stock have rated it a Buy, while 3 have maintained a Hold recommendation on Cathay General Bancorp. 0 analysts has assigned a Sell rating on the CATY stock. The 12-month mean consensus price target for the company’s shares has been set at $44.00.