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Cathay General Bancorp (NASDAQ:CATY) has been downgraded to Hold in a statement by Zacks Investment Research earlier today.

Yesterday Cathay General Bancorp (NASDAQ:CATY) traded 0.30% higher at $38.22. The company’s 50-day moving average is $35.98 and its 200-day moving average is $37.33. The last stock close price is up -1.98% from the 200-day moving average, compared to the S&P 500 which has increased 0.04% over the same time. 652,570 shares of the stock were exchanged, up from an average trading volume of 402,511

Zacks Investment Research has downgraded Cathay General Bancorp (NASDAQ:CATY) to Hold in a report released on Tuesday June 20, 2017.

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Cathay General Bancorp (NASDAQ:CATY)

Cathay General Bancorp has a 52 week low of $28.84 and a 52 week high of $40.83 with a P/E ratio of 15.06 The company’s market cap is currently $0.

In addition to Zacks Investment Research reporting its target price, a total of 6 firms have issued a report on the stock. The consensus target price is $32.75 with 0 firms rating the stock a strong buy, 3 firms rating the stock a buy, 3 firms rating the stock a hold, 0 firms rating the stock a underperform, and finally 0 firms rating the stock a sell.

General Information About Cathay General Bancorp (NASDAQ:CATY)

Cathay General Bancorp is a bank holding company. The Company holds Cathay Bank, a California state-chartered commercial bank (the Bank); seven limited partnerships investing in affordable housing investments; GBC Venture Capital, Inc., and Asia Realty Corp. The Company also owns the common stock of five statutory business trusts created for issuing capital securities. The Bank primarily services individuals, professionals and small to medium-sized businesses in the local markets and provides commercial mortgage loans, commercial loans, small business administration (SBA) 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 Bank offers passbook accounts, checking accounts, money market deposit accounts, certificates of deposit, individual retirement accounts, college certificates of deposit and public funds deposits.

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