Voloridge Investment Management LLC bought a new stake in shares of Cathay General Bancorp (NASDAQ:CATY - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 7,800 shares of the bank's stock, valued at approximately $371,000.
Other institutional investors also recently bought and sold shares of the company. Captrust Financial Advisors boosted its stake in Cathay General Bancorp by 1.0% during the 4th quarter. Captrust Financial Advisors now owns 23,486 shares of the bank's stock worth $1,118,000 after purchasing an additional 222 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of Cathay General Bancorp by 0.8% during the 4th quarter. Cetera Investment Advisers now owns 31,770 shares of the bank's stock worth $1,513,000 after purchasing an additional 255 shares during the period. Nomura Asset Management Co. Ltd. raised its position in Cathay General Bancorp by 63.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 850 shares of the bank's stock valued at $40,000 after purchasing an additional 330 shares during the period. Bank of Montreal Can grew its holdings in shares of Cathay General Bancorp by 4.1% in the fourth quarter. Bank of Montreal Can now owns 9,961 shares of the bank's stock valued at $474,000 after purchasing an additional 394 shares in the last quarter. Finally, Algert Global LLC increased its holdings in Cathay General Bancorp by 0.8% during the 4th quarter. Algert Global LLC now owns 77,166 shares of the bank's stock worth $3,674,000 after purchasing an additional 590 shares during the period. 75.01% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
CATY has been the topic of several recent analyst reports. Jefferies Financial Group set a $53.00 target price on Cathay General Bancorp and gave the company a "buy" rating in a report on Wednesday, May 21st. Stephens reiterated an "overweight" rating and issued a $51.00 price objective on shares of Cathay General Bancorp in a report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $50.17.
Read Our Latest Analysis on CATY
Insider Buying and Selling at Cathay General Bancorp
In other news, EVP Thomas M. Lo sold 729 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $45.00, for a total transaction of $32,805.00. Following the sale, the executive vice president now owns 4,000 shares of the company's stock, valued at $180,000. The trade was a 15.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.85% of the stock is currently owned by company insiders.
Cathay General Bancorp Stock Performance
Shares of NASDAQ CATY traded up $0.63 during trading hours on Tuesday, reaching $43.25. The stock had a trading volume of 270,140 shares, compared to its average volume of 358,254. The firm has a 50-day moving average of $41.67 and a 200-day moving average of $45.50. The firm has a market cap of $3.03 billion, a price-to-earnings ratio of 10.92 and a beta of 0.91. 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 has a fifty-two week low of $34.75 and a fifty-two week high of $55.29.
Cathay General Bancorp (NASDAQ:CATY - Get Free Report) last posted its quarterly earnings data on Monday, April 21st. The bank reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.03. The business had revenue of $187.84 million during the quarter, compared to the consensus estimate of $186.17 million. Cathay General Bancorp had a return on equity of 10.70% and a net margin of 20.57%. During the same period in the prior year, the company earned $1.05 earnings per share. Equities research analysts predict that Cathay General Bancorp will post 4.47 earnings per share for the current year.
Cathay General Bancorp Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Thursday, May 29th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.14%. The ex-dividend date is Thursday, May 29th. Cathay General Bancorp's payout ratio is currently 34.34%.
About Cathay General Bancorp
(
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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