Pathstone Family Office LLC boosted its stake in shares of Cathay General Bancorp (NASDAQ:CATY – Get Rating) by 78.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,210 shares of the bank’s stock after buying an additional 10,198 shares during the quarter. Pathstone Family Office LLC’s holdings in Cathay General Bancorp were worth $893,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of CATY. State Street Corp raised its position in shares of Cathay General Bancorp by 9.4% in the 1st quarter. State Street Corp now owns 3,708,830 shares of the bank’s stock worth $165,970,000 after acquiring an additional 317,721 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Cathay General Bancorp by 2.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,057,291 shares of the bank’s stock worth $117,586,000 after acquiring an additional 84,762 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Cathay General Bancorp by 2.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,882,727 shares of the bank’s stock worth $73,709,000 after acquiring an additional 44,929 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Cathay General Bancorp by 6.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,663,220 shares of the bank’s stock worth $74,430,000 after acquiring an additional 105,614 shares in the last quarter. Finally, LSV Asset Management raised its position in shares of Cathay General Bancorp by 7.9% in the 3rd quarter. LSV Asset Management now owns 1,284,518 shares of the bank’s stock worth $49,403,000 after acquiring an additional 94,328 shares in the last quarter. 67.15% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Cathay General Bancorp
In other Cathay General Bancorp news, Vice Chairman Anthony M. Tang sold 5,000 shares of Cathay General Bancorp stock in a transaction dated Tuesday, February 7th. The stock was sold at an average price of $45.20, for a total transaction of $226,000.00. Following the completion of the transaction, the insider now owns 208,964 shares in the company, valued at approximately $9,445,172.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.30% of the company’s stock.
Wall Street Analysts Forecast Growth
Cathay General Bancorp Stock Performance
Shares of Cathay General Bancorp stock opened at $38.51 on Monday. The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of 7.94 and a beta of 1.17. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.05 and a quick ratio of 1.05. Cathay General Bancorp has a one year low of $37.03 and a one year high of $47.49. The business has a 50-day simple moving average of $42.86 and a 200 day simple moving average of $42.80.
Cathay General Bancorp (NASDAQ:CATY – Get Rating) last released its quarterly earnings results on Wednesday, January 25th. The bank reported $1.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.06). The company had revenue of $213.90 million for the quarter, compared to analyst estimates of $217.67 million. Cathay General Bancorp had a net margin of 39.71% and a return on equity of 14.80%. Cathay General Bancorp’s revenue for the quarter was up 22.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.98 EPS. On average, research analysts anticipate that Cathay General Bancorp will post 5.29 earnings per share for the current fiscal year.
Cathay General Bancorp Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, March 9th. Shareholders of record on Monday, February 27th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, February 24th. This represents a $1.36 dividend on an annualized basis and a yield of 3.53%. Cathay General Bancorp’s dividend payout ratio (DPR) is currently 28.04%.
Cathay General Bancorp Profile
Cathay General Bancorp is a holding company, which engages in the provision of financial services. It offers commercial mortgage loans, commercial loans, small business administration loans, residential mortgage loans, real estate construction loans, home equity lines of credit, and installment loans to individuals for automobile, household, and other consumer expenditures.
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