Cathay General Bancorp (CATY) : Traders are bullish on Cathay General Bancorp (CATY) as it has outperformed the S&P 500 by a wide margin of 2.47% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.74%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.25% in the last 1 week, and is up 2.34% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 2.49% and the 50-Day Moving Average is 6.35%.The 200 Day SMA reached 7.73%. Cathay General Bancorp is up 2.17% in the last 3-month period. Year-to-Date the stock performance stands at 2.5%.
Cathay General Bancorp (NASDAQ:CATY): After opening at $31.43, the stock dipped to an intraday low of $31.09 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $31.54 and the buying power remained strong till the end. The stock closed at $31.53 for the day, a gain of 0.90% for the day session. The total traded volume was 349,501. The stocks close on the previous trading day was $31.25.
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.