First Republic Investment Management Inc. increased its position in Cathay General Bancorp (NASDAQ:CATY – Get Rating) by 3.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,099 shares of the bank’s stock after purchasing an additional 1,425 shares during the quarter. First Republic Investment Management Inc. owned approximately 0.05% of Cathay General Bancorp worth $1,465,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Citizens Business Bank bought a new position in Cathay General Bancorp in the third quarter worth $1,117,000. Duality Advisers LP lifted its position in Cathay General Bancorp by 7.1% in the third quarter. Duality Advisers LP now owns 14,567 shares of the bank’s stock worth $560,000 after purchasing an additional 967 shares during the period. Teacher Retirement System of Texas lifted its position in Cathay General Bancorp by 181.3% in the third quarter. Teacher Retirement System of Texas now owns 33,423 shares of the bank’s stock worth $1,285,000 after purchasing an additional 21,541 shares during the period. Barclays PLC lifted its position in Cathay General Bancorp by 143.2% in the third quarter. Barclays PLC now owns 31,289 shares of the bank’s stock worth $1,203,000 after purchasing an additional 18,422 shares during the period. Finally, Great West Life Assurance Co. Can lifted its position in Cathay General Bancorp by 1.1% in the third quarter. Great West Life Assurance Co. Can now owns 48,748 shares of the bank’s stock worth $1,875,000 after purchasing an additional 529 shares during the period. 67.15% of the stock is owned by institutional investors.
Cathay General Bancorp Stock Performance
Shares of NASDAQ:CATY opened at $44.24 on Thursday. Cathay General Bancorp has a twelve month low of $37.37 and a twelve month high of $48.88. The firm has a market cap of $3.29 billion, a PE ratio of 9.12 and a beta of 1.17. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.04 and a current ratio of 1.04. The business has a fifty day moving average of $42.52 and a 200-day moving average of $42.62.
Cathay General Bancorp (NASDAQ:CATY – Get Rating) last announced its earnings results on Wednesday, January 25th. The bank reported $1.33 earnings per share for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.06). Cathay General Bancorp had a net margin of 39.71% and a return on equity of 14.80%. The business had revenue of $213.90 million during the quarter, compared to analyst estimates of $217.67 million. During the same quarter last year, the business posted $0.98 earnings per share. The business’s quarterly revenue was up 22.0% compared to the same quarter last year. On average, equities research analysts predict that Cathay General Bancorp will post 5.35 EPS for the current fiscal year.
Cathay General Bancorp Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, December 9th. Stockholders of record on Tuesday, November 29th were paid a $0.34 dividend. The ex-dividend date was Monday, November 28th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.07%. Cathay General Bancorp’s dividend payout ratio (DPR) is presently 28.04%.
Analyst Ratings Changes
CATY has been the subject of several research reports. Piper Sandler reduced their target price on Cathay General Bancorp from $47.00 to $46.00 and set a “neutral” rating for the company in a research report on Thursday, January 26th. DA Davidson increased their price objective on Cathay General Bancorp to $47.00 in a research note on Thursday, October 27th. StockNews.com lowered Cathay General Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, November 22nd. Finally, Stephens increased their price objective on Cathay General Bancorp from $43.00 to $44.00 in a research note on Thursday, January 26th.
Insider Activity
In other news, Vice Chairman Peter Wu sold 2,905 shares of the firm’s stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $45.05, for a total value of $130,870.25. Following the completion of the sale, the insider now directly owns 392,347 shares in the company, valued at $17,675,232.35. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Vice Chairman Anthony M. Tang sold 10,000 shares of Cathay General Bancorp stock in a transaction dated Friday, December 9th. The stock was sold at an average price of $43.24, for a total value of $432,400.00. Following the completion of the sale, the insider now directly owns 213,964 shares in the company, valued at $9,251,803.36. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Vice Chairman Peter Wu sold 2,905 shares of Cathay General Bancorp stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $45.05, for a total value of $130,870.25. Following the completion of the sale, the insider now owns 392,347 shares of the company’s stock, valued at $17,675,232.35. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by corporate insiders.
About Cathay General Bancorp
Cathay General Bancorp is a holding company, which engages in the provision of financial services. It offers commercial mortgage loans, commercial loans, small business administration loans, residential mortgage loans, real estate construction loans, home equity lines of credit, and installment loans to individuals for automobile, household, and other consumer expenditures.
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