Incannex Healthcare Halted, News Pending
In a recent transaction, Anthony M. Tang, Vice Chairman of Cathay General Bancorp (NASDAQ:CATY), a $3.15 billion market cap financial institution trading at a P/E ratio of 11.27, sold a portion of his holdings in the company. The sale, dated June 9, involved 1,222 shares of common stock at a price of $44.79 per share, totaling approximately $54,733. Following this transaction, Tang retains ownership of 186,283 shares directly.
Tang also holds additional shares through various indirect ownership arrangements. This includes 114,411 shares held by an Employee Stock Ownership Plan (ESOP) and 300,000 shares through YFO Investments, where his spouse is a beneficiary. Additionally, his spouse owns 365,738 shares, which include shares acquired through dividend reinvestment. The company maintains a solid 3.04% dividend yield and has consistently paid dividends for 35 consecutive years.
These transactions reflect Tang’s ongoing management of his investment in Cathay General Bancorp, a financial institution based in Los Angeles, California. According to InvestingPro, the company has demonstrated strong returns over the past five years, with analysts setting price targets between $41 and $53.
In other recent news, Cathay General Bancorp reported its first-quarter 2025 earnings, revealing an earnings per share (EPS) of $0.98, which exceeded analysts’ forecasts of $0.95. However, the company’s revenue fell short of expectations, totaling $186.35 million. The net interest margin improved to 3.25% from 3.07% in the previous quarter, indicating effective financial management. Despite a challenging quarter with net income decreasing by 13.3% to $69.5 million, Cathay General Bancorp managed to buy back 876,906 shares at an average cost of $46.83 each.
Jefferies recently initiated coverage of Cathay General Bancorp with a Buy rating and set a price target of $53.00, citing the bank’s strong capital position and favorable market focus. The firm’s analyst noted the bank’s exposure to the high-growth Asian-American demographic as a potential driver for future performance. The analyst also addressed concerns about the bank’s exposure to tariffs, suggesting that these fears might be overstated. Cathay General Bancorp has adjusted its loan growth guidance for 2025 to a range of 1% to 4%, down from the previous 3% to 4%, due to economic uncertainties and ongoing tariff tensions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.