Cathay General Bancorp $CATY Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB lessened its holdings in Cathay General Bancorp (NASDAQ:CATY) by 11.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 159,689 shares of the bank’s stock after selling 21,662 shares during the quarter. Nordea Investment Management AB owned 0.23% of Cathay General Bancorp worth $7,751,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CATY. Royal Bank of Canada lifted its holdings in shares of Cathay General Bancorp by 25.8% in the 1st quarter. Royal Bank of Canada now owns 14,761 shares of the bank’s stock valued at $634,000 after buying an additional 3,030 shares during the period. AQR Capital Management LLC boosted its stake in shares of Cathay General Bancorp by 20.0% in the first quarter. AQR Capital Management LLC now owns 40,456 shares of the bank’s stock valued at $1,708,000 after buying an additional 6,740 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Cathay General Bancorp by 1.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,395 shares of the bank’s stock worth $1,738,000 after acquiring an additional 760 shares during the period. Caxton Associates LLP acquired a new position in Cathay General Bancorp during the first quarter worth $316,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Cathay General Bancorp by 5.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 183,090 shares of the bank’s stock worth $7,878,000 after acquiring an additional 8,914 shares in the last quarter. Institutional investors and hedge funds own 75.01% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “buy (b-)” rating on shares of Cathay General Bancorp in a report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $52.50.

Cathay General Bancorp Trading Up 1.1%

Shares of CATY opened at $49.50 on Thursday. Cathay General Bancorp has a twelve month low of $36.06 and a twelve month high of $54.99. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $3.31 billion, a P/E ratio of 10.90 and a beta of 0.86. The firm’s 50-day moving average is $50.80 and its two-hundred day moving average is $49.25.

Cathay General Bancorp (NASDAQ:CATY) last posted its quarterly earnings results on Thursday, January 22nd. The bank reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.13. The company had revenue of $222.83 million during the quarter, compared to the consensus estimate 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 period last year, the firm earned $1.12 EPS. On average, research analysts predict that Cathay General Bancorp will post 4.47 earnings per share for the current fiscal year.

Cathay General Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 9th. Investors of record on Thursday, February 26th were issued a dividend of $0.38 per share. This is a boost from Cathay General Bancorp’s previous quarterly dividend of $0.34. This represents a $1.52 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Thursday, February 26th. Cathay General Bancorp’s payout ratio is presently 33.48%.

Insider Transactions at Cathay General Bancorp

In other Cathay General Bancorp news, EVP Thomas M. Lo sold 1,000 shares of the business’s stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $50.23, for a total transaction of $50,230.00. Following the sale, the executive vice president directly owned 2,000 shares in the company, valued at approximately $100,460. The trade was a 33.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 4.85% of the company’s stock.

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.