Equities researchers at DA Davidson decreased their target price on shares of Cathay General Bancorp (NASDAQ:CATY) from $28.00 to $27.50 in a research report issued on Thursday, AR Network reports. DA Davidson’s target price would suggest a potential upside of 11.74% from the stock’s previous close. Cathay General Bancorp (NASDAQ:CATY) shares after opening at $24.40 moved to $24.68 on last trade day and at the end of the day closed at $24.61. Company price to sales ratio in past twelve months was calculated as 4.81 and price to cash ratio as 2.50. Cathay General Bancorp (NASDAQ:CATY) showed a negative weekly performance of -3.38%.
Pacific Continental (NASDAQ:PCBK) declared a special dividend on Wednesday, April 16th, American Banking News.com reports. Stockholders of record on Monday, April 28th will be given a dividend of 0.11 per share on Monday, May 12th. Pacific Continental Corporation (NASDAQ:PCBK) shares advanced 1.96% in last trading session and ended the day on $13.54. PCBK return on equity ratio is recorded as 9.10% and its return on assets is 1.10%. Pacific Continental Corporation (NASDAQ:PCBK) yearly performance is 44.35%.
Sinclair Broadcast Group, Inc. (Nasdaq:SBGI) announced that it has engaged Moelis & Company as Sinclair’s exclusive financial advisor in connection with the Company’s potential sale of WHP (CBS) in Harrisburg, PA, together with the right to provide services to WLYH (CW) in Harrisburg, PA, WMMP (MyNetwork) in Charleston, SC, and WABM (MyNetwork) in Birmingham, AL so as not to result in undue further delays to processing the applications for the previously announced acquisition of the Allbritton Communications television stations. The potential sale of the stations had been previously proposed to the Federal Communications Commission in order to meet certain objections to shared services agreements. Sinclair Broadcast Group Inc (NASDAQ:SBGI) shares moved up 0.26% in last trading session and was closed at $27.41, while trading in range of $27.17-$27.78. Sinclair Broadcast Group Inc (NASDAQ:SBGI) year to date performance is -22.90%.
CBS Corporation (NYSE:CBS) has received a favorable private letter ruling from the IRS for its plan to convert its CBS OUTDOOR AMERICAS INC. subsidiary to a real estate investment trust (REIT). The ruling follows the completion of CBS OUTDOOR’s IPO of 19% of its shares. CBS CORP. plans to divest its 81% stake in CBS OUTDOOR through a tax-free split-off later this year and then elect and qualify CBS OUTDOOR to be taxed as a REIT.CBS Corporation (NYSE:CBS) weekly performance is -3.30%. On last trading day company shares ended up $57. CBS Corporation (NYSE:CBS) distance from 50-day simple moving average is -5.29%. Analysts mean target price for the company is $63.00.