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NEW YORK ( TheStreet) -- Cathay General Bancorp (Nasdaq: CATY) hit a new 52-week high Friday as it is currently trading at $18.17, above its previous 52-week high of $18.16 with 247,578 shares traded as of 11:07 a.m. ET. Average volume has been 428,200 shares over the past 30 days. Cathay General has a market cap of $1.25 billion and is part of the financial sector and banking industry. Shares are up 16.5% year to date as of the close of trading on Thursday. 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 16.4, below the average banking industry P/E ratio of 16.6 and below the S&P 500 P/E ratio of 17.7.