Cathay General Bancorp (CATY) Receives Price Target

Cathay General Bancorp (CATY) : The consensus price target for Cathay General Bancorp (CATY) is $32.13 for the short term with a standard deviation of $0.63. The most optimist securities analyst among the 4 who monitor the stock believes that the stock can reach $33, however, the pessimist price target for the company is $32.

Cathay General Bancorp (CATY) has an average broker rating of 3, which is interpreted as a Hold, as rated by 3 equity analysts. Nevertheless, the majority of 3 analysts consider that the stock is a Hold with neither a large upside nor a downside. Ranking by Zacks Investment Research for Coach Inc is 3, which is also a Hold.


Also, Equity analysts at the Brokerage firm Keefe Bruyette & Woods maintains its rating on Cathay General Bancorp (NASDAQ:CATY). The rating major has initiated the coverage with market perform rating on the shares. The Analysts at Keefe Bruyette & Woods raises the price target from $31 per share to $32 per share. The rating by the firm was issued on July 11, 2016.

Cathay General Bancorp (NASDAQ:CATY): The stock opened at $31.50 on Thursday but the bulls could not build on the opening and the stock topped out at $31.65 for the day. The stock traded down to $31.01 during the day, due to lack of any buying support eventually closed down at $31.25 with a loss of -0.54% for the day. The stock had closed at $31.42 on the previous day. The total traded volume was 400,952 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.

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