Keefe, Bruyette & Woods Downgrades Cathay General Bancorp (CATY) to Underperform
More News related to CATY
- KBW Announces Changes to KBW Regional Banking Index (KRX)
- Cathay General Bancorp Closes $76.0 Million Public Offering of Common Stock
- StockPreacher.com Issues Trading Outlook for UCBH Holdings Inc.
- Cathay General (CATY) Announces 7.6M Common Stock Offering
- Cathay General Bancorp Prices $70.4 Million Public Offering of Common Stock
Keefe, Bruyette & Woods downgrades Cathay General Bancorp (Nasdaq: CATY) to Underperform, Price target $9.
Keefe analyst says, "We reviewed CATY's delinquency data found in the bank's Call Report. We were
struck by the rapid ramp in early stage delinquencies in the CRE and construction portfolios this quarter, though the results did not alter our stress case estimates. We are also downgrading CATY to Underperform, based on valuation, while leaving our PT unchanged at $9 and leaving our per share
estimates unchanged as well."
Cathay General Bancorp is the holding company of Cathay Bank (the Bank). As a commercial bank, the Bank accepts checking, savings, and time deposits, and makes commercial, real estate, personal, home improvement, automobile, and other installment and term loans.
Related Categories
DowngradesStocks Mentioned
-0.12Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
