Cathay General Bancorp (NASDAQ:CATY) Shares Sold by Jane Street Group LLC

Jane Street Group LLC lowered its position in shares of Cathay General Bancorp (NASDAQ:CATY - Free Report) by 34.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 59,399 shares of the bank's stock after selling 31,020 shares during the quarter. Jane Street Group LLC owned 0.08% of Cathay General Bancorp worth $2,828,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CATY. Dimensional Fund Advisors LP increased its holdings in shares of Cathay General Bancorp by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,230,722 shares of the bank's stock valued at $201,426,000 after purchasing an additional 12,684 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Cathay General Bancorp by 3.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,861,501 shares of the bank's stock worth $136,236,000 after purchasing an additional 102,724 shares during the last quarter. Invesco Ltd. grew its position in shares of Cathay General Bancorp by 6.0% in the 4th quarter. Invesco Ltd. now owns 1,519,442 shares of the bank's stock valued at $72,341,000 after buying an additional 85,963 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Cathay General Bancorp by 5.2% in the 4th quarter. American Century Companies Inc. now owns 1,471,066 shares of the bank's stock valued at $70,037,000 after purchasing an additional 72,532 shares during the period. Finally, T. Rowe Price Investment Management Inc. increased its position in Cathay General Bancorp by 0.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,268,030 shares of the bank's stock valued at $60,371,000 after buying an additional 6,081 shares in the last quarter. Institutional investors and hedge funds own 75.01% of the company's stock.

Cathay General Bancorp Stock Up 0.5%

Cathay General Bancorp stock traded up $0.21 during mid-day trading on Tuesday, reaching $44.33. The stock had a trading volume of 32,332 shares, compared to its average volume of 356,067. The company has a 50-day moving average price of $41.72 and a two-hundred day moving average price of $46.03. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.03 and a quick ratio of 1.03. Cathay General Bancorp has a one year low of $34.75 and a one year high of $55.29. The company has a market capitalization of $3.11 billion, a price-to-earnings ratio of 11.20 and a beta of 0.91.

Cathay General Bancorp (NASDAQ:CATY - Get Free Report) last released its earnings results 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. 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 the consensus estimate of $186.17 million. During the same period in the previous year, the business earned $1.05 earnings per share. On average, analysts expect that Cathay General Bancorp will post 4.47 EPS for the current fiscal year.

Cathay General Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Investors of record on Thursday, May 29th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $1.36 annualized dividend and a yield of 3.07%. Cathay General Bancorp's payout ratio is 34.34%.

Insider Transactions at Cathay General Bancorp

In related news, EVP Thomas M. Lo sold 729 shares of the stock in a transaction 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 in the company, valued at approximately $180,000. This represents a 15.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 4.85% of the company's stock.

Analysts Set New Price Targets

CATY has been the subject of several analyst reports. Keefe, Bruyette & Woods lowered their target price on shares of Cathay General Bancorp from $56.00 to $55.00 and set a "market perform" rating for the company in a report on Thursday, January 23rd. Piper Sandler dropped their price target on Cathay General Bancorp from $45.00 to $43.00 and set an "underweight" rating for the company in a research note on Monday, January 27th. Finally, Stephens reiterated an "overweight" rating and issued a $51.00 price objective on shares of Cathay General Bancorp in a research report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $49.60.

Cathay General Bancorp Profile

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.