Vanguard Group Inc. Acquires 749,370 Shares of Cathay General Bancorp (NASDAQ:CATY)

Vanguard Group Inc. grew its holdings in Cathay General Bancorp (NASDAQ:CATYFree Report) by 10.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,058,670 shares of the bank’s stock after acquiring an additional 749,370 shares during the quarter. Vanguard Group Inc. owned 11.09% of Cathay General Bancorp worth $280,119,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Advisor Group Holdings Inc. lifted its holdings in shares of Cathay General Bancorp by 1.0% during the fourth quarter. Advisor Group Holdings Inc. now owns 32,197 shares of the bank’s stock valued at $1,313,000 after acquiring an additional 303 shares during the period. Arizona State Retirement System raised its holdings in shares of Cathay General Bancorp by 1.6% in the third quarter. Arizona State Retirement System now owns 19,620 shares of the bank’s stock valued at $682,000 after buying an additional 304 shares during the last quarter. State of Wyoming raised its holdings in shares of Cathay General Bancorp by 31.7% in the fourth quarter. State of Wyoming now owns 1,321 shares of the bank’s stock valued at $54,000 after buying an additional 318 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Cathay General Bancorp by 1.5% in the second quarter. Price T Rowe Associates Inc. MD now owns 24,826 shares of the bank’s stock valued at $972,000 after buying an additional 361 shares during the last quarter. Finally, Lazard Asset Management LLC raised its holdings in shares of Cathay General Bancorp by 41.4% in the fourth quarter. Lazard Asset Management LLC now owns 1,277 shares of the bank’s stock valued at $52,000 after buying an additional 374 shares during the last quarter. 75.01% of the stock is owned by institutional investors.

Cathay General Bancorp Price Performance

Shares of CATY opened at $37.83 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a 50 day simple moving average of $39.86 and a 200 day simple moving average of $38.69. Cathay General Bancorp has a 52-week low of $27.24 and a 52-week high of $45.72. The firm has a market capitalization of $2.75 billion, a PE ratio of 7.78 and a beta of 1.12.

Cathay General Bancorp (NASDAQ:CATYGet Free Report) last announced its quarterly earnings data on Wednesday, January 24th. The bank reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.15. Cathay General Bancorp had a return on equity of 13.89% and a net margin of 27.02%. The company had revenue of $205.24 million for the quarter, compared to analysts’ expectations of $197.95 million. Sell-side analysts predict that Cathay General Bancorp will post 4.12 EPS for the current fiscal year.

Cathay General Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Wednesday, February 28th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend was Tuesday, February 27th. Cathay General Bancorp’s dividend payout ratio (DPR) is presently 27.98%.

Insider Activity at Cathay General Bancorp

In related news, Vice Chairman Anthony M. Tang sold 7,000 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $43.45, for a total value of $304,150.00. Following the sale, the insider now owns 204,500 shares in the company, valued at approximately $8,885,525. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Cathay General Bancorp from a “hold” rating to a “sell” rating in a report on Thursday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Cathay General Bancorp presently has an average rating of “Hold” and a consensus price target of $37.80.

Check Out Our Latest Report on CATY

About Cathay General Bancorp

(Free Report)

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.

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Institutional Ownership by Quarter for Cathay General Bancorp (NASDAQ:CATY)

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