CSM Advisors LLC Buys 15,477 Shares of Cathay General Bancorp $CATY

CSM Advisors LLC boosted its stake in Cathay General Bancorp (NASDAQ:CATY) by 10.0% in the third quarter, HoldingsChannel reports. The firm owned 170,906 shares of the bank’s stock after buying an additional 15,477 shares during the period. CSM Advisors LLC’s holdings in Cathay General Bancorp were worth $8,205,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Los Angeles Capital Management LLC acquired a new stake in shares of Cathay General Bancorp in the 2nd quarter valued at about $485,000. Moody Aldrich Partners LLC increased its position in Cathay General Bancorp by 96.7% in the 3rd quarter. Moody Aldrich Partners LLC now owns 81,799 shares of the bank’s stock valued at $3,927,000 after buying an additional 40,214 shares in the last quarter. SG Americas Securities LLC raised its stake in Cathay General Bancorp by 205.6% during the 2nd quarter. SG Americas Securities LLC now owns 12,063 shares of the bank’s stock worth $549,000 after buying an additional 8,116 shares during the period. Jupiter Asset Management Ltd. acquired a new position in Cathay General Bancorp during the 2nd quarter worth approximately $831,000. Finally, XTX Topco Ltd bought a new position in Cathay General Bancorp in the second quarter worth approximately $2,515,000. 75.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on CATY. Wall Street Zen raised Cathay General Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Cathay General Bancorp in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Cathay General Bancorp currently has a consensus rating of “Hold” and a consensus target price of $52.50.

Insider Buying and Selling at Cathay General Bancorp

In other news, EVP Thomas M. Lo sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $50.23, for a total value of $50,230.00. Following the transaction, the executive vice president owned 2,000 shares in the company, valued at $100,460. This trade represents a 33.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 4.85% of the stock is owned by corporate insiders.

Cathay General Bancorp Trading Down 0.9%

NASDAQ:CATY opened at $47.38 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.03 and a quick ratio of 1.03. Cathay General Bancorp has a one year low of $36.06 and a one year high of $54.99. The company has a market cap of $3.17 billion, a PE ratio of 10.44 and a beta of 0.86. The firm has a 50-day moving average of $51.08 and a 200-day moving average of $49.36.

Cathay General Bancorp (NASDAQ:CATY) last announced its quarterly earnings results on Thursday, January 22nd. The bank reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.13. The business had revenue of $222.83 million for the quarter, compared to analysts’ expectations of $211.76 million. Cathay General Bancorp had a net margin of 22.76% and a return on equity of 10.89%. During the same quarter last year, the firm earned $1.12 EPS. As a group, equities research analysts expect that Cathay General Bancorp will post 4.47 EPS for the current fiscal year.

Cathay General Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 9th. Stockholders of record on Thursday, February 26th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.2%. This is a boost from Cathay General Bancorp’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Thursday, February 26th. Cathay General Bancorp’s dividend payout ratio (DPR) is currently 33.48%.

Cathay General Bancorp Company Profile

Cathay General Bancorp is a bank holding company headquartered in Los Angeles, California, trading on NASDAQ under the symbol CATY. Its principal subsidiary, Cathay Bank, provides a full suite of financial services to commercial, institutional and retail clients. As a community-focused institution, the company emphasizes relationship banking and tailored solutions for businesses and individuals.

Founded in 1962 by a group of Chinese American entrepreneurs, Cathay has expanded from a single branch operation in downtown Los Angeles into one of the largest Asian-American banks in the United States.