UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Cathay General Bancorp (NASDAQ:CATY - Free Report) by 16.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 174,176 shares of the bank's stock after acquiring an additional 24,871 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.24% of Cathay General Bancorp worth $8,293,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the company. Voloridge Investment Management LLC purchased a new stake in Cathay General Bancorp during the fourth quarter valued at about $371,000. Squarepoint Ops LLC purchased a new stake in Cathay General Bancorp during the fourth quarter valued at about $982,000. ProShare Advisors LLC grew its position in Cathay General Bancorp by 44.2% during the fourth quarter. ProShare Advisors LLC now owns 21,010 shares of the bank's stock valued at $1,000,000 after acquiring an additional 6,436 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Cathay General Bancorp by 4.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,635 shares of the bank's stock valued at $1,887,000 after acquiring an additional 1,545 shares during the period. Finally, Deutsche Bank AG grew its position in Cathay General Bancorp by 118.1% during the fourth quarter. Deutsche Bank AG now owns 90,721 shares of the bank's stock valued at $4,319,000 after acquiring an additional 49,129 shares during the period. Hedge funds and other institutional investors own 75.01% of the company's stock.
Cathay General Bancorp Stock Down 0.5%
Shares of CATY traded down $0.23 during midday trading on Monday, reaching $42.62. 279,639 shares of the company were exchanged, compared to its average volume of 358,396. The stock has a 50-day moving average price of $41.69 and a 200-day moving average price of $45.58. The company has a market cap of $2.99 billion, a price-to-earnings ratio of 10.76 and a beta of 0.91. Cathay General Bancorp has a 1-year low of $34.75 and a 1-year high of $55.29. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.07.
Cathay General Bancorp (NASDAQ:CATY - Get Free Report) last issued its quarterly earnings data on Monday, April 21st. The bank reported $0.98 EPS for the quarter, topping analysts' consensus estimates of $0.95 by $0.03. Cathay General Bancorp had a return on equity of 10.70% and a net margin of 20.57%. The company had revenue of $187.84 million for the quarter, compared to analysts' expectations of $186.17 million. During the same quarter in the previous year, the firm posted $1.05 earnings per share. Research analysts expect that Cathay General Bancorp will post 4.47 earnings per share for the current year.
Cathay General Bancorp Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Investors of record on Thursday, May 29th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 3.19%. The ex-dividend date is Thursday, May 29th. Cathay General Bancorp's dividend payout ratio (DPR) is 34.34%.
Insider Buying and Selling
In related news, EVP Thomas M. Lo sold 729 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $45.00, for a total value of $32,805.00. Following the transaction, the executive vice president now owns 4,000 shares in the company, valued at approximately $180,000. The trade was a 15.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 4.85% of the company's stock.
Analysts Set New Price Targets
A number of research firms have issued reports on CATY. Stephens reissued an "overweight" rating and set a $51.00 price target on shares of Cathay General Bancorp in a research report on Tuesday, April 22nd. Jefferies Financial Group set a $53.00 price objective on Cathay General Bancorp and gave the stock a "buy" rating in a research note on Wednesday, May 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $50.17.
Get Our Latest Research Report on CATY
Cathay General Bancorp Profile
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Free Report)
Cathay General Bancorp operates as the holding company for Cathay Bank that offers various commercial banking products and services to individuals, professionals, and small to medium-sized businesses in the United States. The company offers various deposit products, including passbook accounts, checking accounts, money market deposit accounts, certificates of deposit, individual retirement accounts, and public funds deposits.
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