Cathay General Bancorp (NASDAQ:CATY) has tumbled 4.92% during the past week and has dropped 5.68% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 3.78%. Cathay General Bancorp (NASDAQ:CATY) has underperformed the index by 6.54% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Cathay General Bancorp (NASDAQ:CATY): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $28.20 and $28.03 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $28.56. The buying momentum continued till the end and the stock did not give up its gains. It closed at $28.40, notching a gain of 0.71% for the day. The total traded volume was 1,706,946 . The stock had closed at $28.20 on the previous day.
The company shares have dropped -13.39% from its 1 Year high price. On Jul 22, 2015, the shares registered one year high at $34.75 and the one year low was seen on Jan 25, 2016. The 50-Day Moving Average price is $29.82 and the 200 Day Moving Average price is recorded at $29.28.
On the companys insider trading activities,The director officer (Vice Chairman) of Cathay General Bancorp, Tang Anthony M sold 50,000 shares at $27.79 on March 9, 2016. The Insider selling transaction had a total value worth of $1,389,500. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
Currently the company Insiders own 6.36% of Cathay General Bancorp shares according to the proxy statements. Institutional Investors own 66.45% of Cathay General Bancorp shares.
Cathay General Company is a bank holding company. The Company operates through Cathay Bank, a California state-chartered commercial bank (the Bank), seven limited partnerships investing in affordable housing investments in which the Bank is the sole limited partner, and GBC Venture Capital, Inc. The Bank primarily services individuals, professionals and small to medium-sized businesses in the local markets in which its branches are located and provides commercial mortgage loans, commercial loans, residential mortgage loans, real estate construction loans, home equity lines of credit and installment loans to individuals. It operates approximately 60 branches, across California, New York State, Chicago, Washington State, Texas, Maryland, Massachusetts, Nevada, New Jersey, Hong Kong, Taipei and Shanghai. It offers deposit products, including passbook accounts, checking accounts, college certificates of deposit and public funds deposits.