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Wedbush Believes Cathay General Bancorp (CATY) Still Has Room to Grow

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In a report released yesterday, David Chiaverini from Wedbush maintained a Buy rating on Cathay General Bancorp (CATYResearch Report), with a price target of $55.00. The company’s shares closed last Monday at $47.28, close to its 52-week high of $47.45.

According to TipRanks.com, Chiaverini is a 5-star analyst with an average return of 20.4% and a 65.8% success rate. Chiaverini covers the Financial sector, focusing on stocks such as Pacific Premier Bancorp, Valley National Bancorp, and Svb Financial Group.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Cathay General Bancorp with a $52.00 average price target.

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The company has a one-year high of $47.45 and a one-year low of $35.48. Currently, Cathay General Bancorp has an average volume of 332.4K.

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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.

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