Victory Capital Management Inc. cut its position in shares of Cathay General Bancorp (NASDAQ:CATY – Get Rating) by 1.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 59,118 shares of the bank’s stock after selling 1,126 shares during the quarter. Victory Capital Management Inc. owned approximately 0.08% of Cathay General Bancorp worth $2,274,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Parallel Advisors LLC raised its position in Cathay General Bancorp by 91.6% in the second quarter. Parallel Advisors LLC now owns 1,069 shares of the bank’s stock worth $42,000 after acquiring an additional 511 shares during the period. Covestor Ltd raised its position in Cathay General Bancorp by 73.5% in the first quarter. Covestor Ltd now owns 1,157 shares of the bank’s stock worth $52,000 after acquiring an additional 490 shares during the period. Nisa Investment Advisors LLC raised its position in Cathay General Bancorp by 490.0% in the second quarter. Nisa Investment Advisors LLC now owns 1,180 shares of the bank’s stock worth $46,000 after acquiring an additional 980 shares during the period. Point72 Hong Kong Ltd bought a new stake in Cathay General Bancorp in the second quarter worth about $54,000. Finally, Quantbot Technologies LP raised its position in Cathay General Bancorp by 2,569.6% in the second quarter. Quantbot Technologies LP now owns 2,723 shares of the bank’s stock worth $106,000 after acquiring an additional 2,621 shares during the period. 67.15% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other Cathay General Bancorp news, Vice Chairman Anthony M. Tang sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, December 9th. The shares were sold at an average price of $43.24, for a total value of $432,400.00. Following the completion of the transaction, the insider now owns 213,964 shares of the company’s stock, valued at approximately $9,251,803.36. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Cathay General Bancorp news, Vice Chairman Anthony M. Tang sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, December 9th. The shares were sold at an average price of $43.24, for a total value of $432,400.00. Following the completion of the transaction, the insider now owns 213,964 shares of the company’s stock, valued at approximately $9,251,803.36. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Vice Chairman Peter Wu sold 2,905 shares of the business’s stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $45.05, for a total transaction of $130,870.25. Following the completion of the transaction, the insider now directly owns 392,347 shares of the company’s stock, valued at approximately $17,675,232.35. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on the stock. Stephens boosted their price target on shares of Cathay General Bancorp from $43.00 to $44.00 in a research report on Thursday, January 26th. Piper Sandler lowered their price target on shares of Cathay General Bancorp from $47.00 to $46.00 and set a “neutral” rating on the stock in a research report on Thursday, January 26th. StockNews.com lowered shares of Cathay General Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, November 22nd. Finally, DA Davidson boosted their price target on shares of Cathay General Bancorp to $47.00 in a research report on Thursday, October 27th.
Cathay General Bancorp Stock Performance
Cathay General Bancorp stock opened at $44.24 on Thursday. The firm’s 50 day simple moving average is $42.52 and its 200 day simple moving average is $42.62. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $3.29 billion, a PE ratio of 9.12 and a beta of 1.17. Cathay General Bancorp has a 1-year low of $37.37 and a 1-year high of $48.88.
Cathay General Bancorp (NASDAQ:CATY – Get Rating) last posted 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). The firm had revenue of $213.90 million for the quarter, compared to the consensus estimate of $217.67 million. Cathay General Bancorp had a return on equity of 14.80% and a net margin of 39.71%. The business’s revenue was up 22.0% on a year-over-year basis. During the same period last year, the company posted $0.98 EPS. As a group, analysts expect that Cathay General Bancorp will post 5.35 earnings per share for the current fiscal year.
Cathay General Bancorp Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, December 9th. Investors of record on Tuesday, November 29th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend was Monday, November 28th. Cathay General Bancorp’s dividend payout ratio (DPR) is presently 28.04%.
Cathay General Bancorp Company Profile
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.
Further Reading
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