CATY Stock Summary and Trading Ideas (Cathay General Bancorp | NASDAQ:CATY)

Cathay General Bancorp is a regional bank predominantly serving the Chinese-American community. The company's policy is to reach out and actively offer services to low-to-moderate income groups in the delineated branch service areas. It predominantly provides services such as checking and deposit, lines of credits, commercial and commercial real estate loans, merchant services and payment processing, treasury management services, international banking and financing services, and other customary banking services to individuals, professionals, and small to medium-sized businesses. Through its Wealth Management unit, the company also offers investment products and services, such as stocks, bonds, mutual funds, insurance, annuities, and advisory services.

Cathay General Bancorp trades on the NASDAQ stock market under the symbol CATY.

As of May 13, 2024, CATY stock price declined to $37.29 with 156,247 million shares trading.

CATY has a beta of 1.13, meaning it tends to be more sensitive to market movements. CATY has a correlation of 0.19 to the broad based SPY ETF.

CATY has a market cap of $2.72 billion. This is considered a Mid Cap stock.

Last quarter Cathay General Bancorp reported $175 million in Revenue and $.98 earnings per share. This fell short of revenue expectation by $-12 million and met earnings estimates .

In the last 3 years, CATY stock traded as high as $48.88 and as low as $27.24.

The top ETF exchange traded funds that CATY belongs to (by Net Assets): IJR, VTI, VB, SCHD, IWM.

CATY has outperformed the market in the last year with a price return of +37.1% while the SPY ETF gained +28.2%. However, in the short term, CATY had mixed performance relative to the market. It has underperformed in the last 3 months, returning -2.7% vs +5.8% return in SPY. But in the last 2 weeks, CATY shares have fared better than the market returning +7.3% compared to SPY +2.1%.

CATY support price is $37.07 and resistance is $38.25 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that CATY stock will trade within this expected range on the day.