Cathay General Bancorp (CATY) Gets a Buy Rating from Wedbush

In a report released today, David Chiaverini from Wedbush maintained a Buy rating on Cathay General Bancorp (CATYResearch Report), with a price target of $48.00. The company’s shares closed last Monday at $41.51.

According to TipRanks.com, Chiaverini is a 4-star analyst with an average return of 8.3% and a 44.8% success rate. Chiaverini covers the Financial sector, focusing on stocks such as Pacific Premier Bancorp, Valley National Bancorp, and Svb Financial Group.

Currently, the analyst consensus on Cathay General Bancorp is a Moderate Buy with an average price target of $45.33.

See today’s best-performing stocks on TipRanks >>

Based on Cathay General Bancorp’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $179 million and net profit of $75.03 million. In comparison, last year the company earned revenue of $152 million and had a net profit of $73.38 million.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Cathay General Bancorp is a holding company, which engages in the provision of financial services. It offers commercial mortgage loans, commercial loans, small business administration loans, residential mortgage loans, real estate construction loans, home equity lines of credit, and installment loans to individuals for automobile, household, and other consumer expenditures. The company was founded in 1962 and is headquartered in Los Angeles, CA.

Read More on CATY:

Tired of arriving late to the Big Returns Party?​
Most investors don’t have major gainers like TSLA or NVDA on their radar from the start.
The profusion of opinions on social media and financial blogs makes it impossible to distinguish between real growth potential and pure hype.
​​For the past decade, we have developed and perfected technology designed to help private investors, just like you, find the best opportunities, with the greatest upside potential, in any financial climate.​
Learn More