Mason Street Advisors LLC bought a new position in Cathay General Bancorp (NASDAQ:CATY) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 33,439 shares of the company’s stock, valued at approximately $943,000.
Other large investors have also added to or reduced their stakes in the company. US Bancorp DE raised its stake in shares of Cathay General Bancorp by 13.1% in the second quarter. US Bancorp DE now owns 4,074 shares of the company’s stock valued at $115,000 after buying an additional 473 shares during the period. BlackRock Japan Co. Ltd raised its stake in shares of Cathay General Bancorp by 23.0% in the second quarter. BlackRock Japan Co. Ltd now owns 4,388 shares of the company’s stock valued at $124,000 after buying an additional 820 shares during the period. LS Investment Advisors LLC raised its stake in shares of Cathay General Bancorp by 73.1% in the second quarter. LS Investment Advisors LLC now owns 4,415 shares of the company’s stock valued at $125,000 after buying an additional 1,864 shares during the period. Tower Research Capital LLC TRC purchased a new stake in shares of Cathay General Bancorp during the second quarter valued at $160,000. Finally, Capital Guardian Trust Co. raised its stake in shares of Cathay General Bancorp by 43.9% in the second quarter. Capital Guardian Trust Co. now owns 5,837 shares of the company’s stock valued at $165,000 after buying an additional 1,782 shares during the period. Institutional investors own 66.29% of the company’s stock.
Cathay General Bancorp (NASDAQ:CATY) opened at 30.47 on Wednesday. The firm’s 50-day moving average price is $30.91 and its 200-day moving average price is $29.79. Cathay General Bancorp has a 12-month low of $25.62 and a 12-month high of $34.69. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of 15.39 and a beta of 1.31.
Cathay General Bancorp (NASDAQ:CATY) last released its earnings results on Wednesday, July 20th. The company reported $0.44 EPS for the quarter, hitting analysts’ consensus estimates of $0.44. Cathay General Bancorp had a return on equity of 9.23% and a net margin of 31.20%. During the same period in the previous year, the company earned $0.56 EPS. On average, equities analysts predict that Cathay General Bancorp will post $2.19 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Thursday, September 1st were paid a $0.18 dividend. The ex-dividend date was Tuesday, August 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.36%. Cathay General Bancorp’s dividend payout ratio is currently 36.18%.
Several equities research analysts recently weighed in on CATY shares. Zacks Investment Research raised Cathay General Bancorp from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a report on Monday, September 12th. BMO Capital Markets reissued an “outperform” rating and issued a $32.00 price objective (down previously from $33.00) on shares of Cathay General Bancorp in a report on Wednesday, July 6th. Finally, Keefe, Bruyette & Woods lifted their price objective on Cathay General Bancorp from $31.00 to $32.00 and gave the stock a “market perform” rating in a report on Monday, July 11th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $33.00.
In other news, Vice Chairman Peter Wu sold 30,000 shares of the company’s stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $31.30, for a total transaction of $939,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 6.36% of the stock is owned by insiders.
Cathay General Bancorp Company Profile
Cathay General Bancorp is a bank holding company. The Company holds Cathay Bank, a California state-chartered commercial bank (the Bank); approximately seven limited partnerships investing in affordable housing investments, in which the Bank is the sole limited partner; GBC Venture Capital, Inc, and Asia Realty Corp.
Want to see what other hedge funds are holding CATY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cathay General Bancorp (NASDAQ:CATY).
Receive News & Ratings for Cathay General Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cathay General Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.