Cathay General Stock Falls On Unusually High Volume (CATY)
Cathay General Bancorp (Nasdaq:CATY) is trading at unusually high volume Wednesday with 1.8 million shares changing hands. It is currently at 4.1 times its average daily volume and trading down $1.04 (-9.2%).
NEW YORK ( TheStreet) -- Cathay General Bancorp (Nasdaq: CATY) is trading at unusually high volume Wednesday with 1.8 million shares changing hands. It is currently at 4.1 times its average daily volume and trading down $1.04 (-9.2%) at $10.21 as of four p.m. ET. Cathay General has a market cap of $834.3 million and is part of the financial sector and banking industry. Shares are down 32.6% year to date as of the close of trading on Tuesday. Cathay General Bancorp operates as the holding company for Cathay Bank, which offers various commercial banking products and services for individuals, professionals, and small to medium-sized businesses primarily in California. The company has a P/E ratio of 12.5, equal to the average banking industry P/E ratio and below the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Cathay General as a hold. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income and expanding profit margins. However, as a counter to these strengths, we find that revenues have generally been declining. You can view the full Cathay General Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center. Interested in other stocks that are falling on unusually high volume? Get free SMS text alerts sent to you when the action happens by texting HVDOWN to 95370 or select from multiple alert options.