Anthony M. Tang, serving as Vice Chairman of Cathay General Bancorp (NASDAQ:CATY), concluded a stock transaction on June 9, 2026, by selling 5,000 shares of the firm's common equity. Executed at a precise price of $59.92 per share, the divestment generated a total value of $299,600. This sale took place in close proximity to the stock's 52-week peak of $60.08, with the shares trading at $59.48 at the time of the transaction. According to InvestingPro analysis, CATY currently appears undervalued at its present levels, demonstrating a 25% return year-to-date. InvestingPro provides eight additional exclusive insights for CATY investors.
Following the execution of this sale, Mr. Tang maintains direct ownership of 147,876 shares of Cathay General Bancorp common stock. His indirect holdings encompass 114,410 shares held within an Employee Stock Ownership Plan (ESOP), 300,000 shares through YFO Investments where his spouse is listed as a beneficiary, and 371,399 shares held directly by his spouse. The shares held by his spouse include 1,582.906 shares acquired year-to-date through dividend reinvestment. The transaction report was filed on June 10, 2026.
In concurrent developments, Cathay General Bancorp delivered robust financial results for the first quarter of 2026. The company's earnings per share (EPS) reached $1.29, exceeding analyst expectations of $1.21 and marking a 6.61% positive surprise. Revenue also surpassed projections, totaling $213.2 million compared to the anticipated $211.4 million. Furthermore, Cathay General Bancorp announced a cash dividend of $0.38 per common share. This dividend is scheduled for payment on June 9, 2026, to shareholders of record as of May 28, 2026. These outcomes underscore Cathay General Bancorp's strong financial performance and dedication to returning value to its shareholders.
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