Cathay General Bancorp (CATY) : Traders are getting increasingly bearish on Cathay General Bancorp (CATY), as can be seen in the addition of short positions from 2,403,935 on Jul 29, 2016, to 2,521,713 on August 15, 2016. The net change in shorts is 117,778 shares, an increase of 4.9%. 9 days remain before the expiry. The 3.4% of outstanding short positions on the stock compared to its float, shows that traders expect the stock to fall from the current levels. The daily volume of the stock is 286,805. The short interest information was released on Wednesday Aug 24th after the market close.
Cathay General Bancorp (NASDAQ:CATY): The stock opened at $30.94 on Wednesday but the bulls could not build on the opening and the stock topped out at $31.06 for the day. The stock traded down to $30.77 during the day, due to lack of any buying support eventually closed down at $30.84 with a loss of -0.16% for the day. The stock had closed at $30.89 on the previous day. The total traded volume was 250,276 shares.
In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director officer (Vice Chairman) of Cathay General Bancorp, Tang Anthony M had sold 50,000 shares worth of $1,389,500 in a transaction dated March 9, 2016. In this transaction, 50,000 shares were sold at $27.79 per share.
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.