Cathay General Bancorp (NASDAQ:CATY) Shares Acquired by Public Sector Pension Investment Board

Public Sector Pension Investment Board boosted its position in Cathay General Bancorp (NASDAQ:CATY) by 7.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 160,241 shares of the bank’s stock after buying an additional 11,324 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.22% of Cathay General Bancorp worth $6,044,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Cathay General Bancorp by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 8,254,816 shares of the bank’s stock valued at $367,917,000 after buying an additional 196,146 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Cathay General Bancorp by 4.4% during the second quarter. Dimensional Fund Advisors LP now owns 4,194,232 shares of the bank’s stock valued at $158,206,000 after purchasing an additional 176,215 shares during the last quarter. American Century Companies Inc. raised its position in shares of Cathay General Bancorp by 19.8% during the 2nd quarter. American Century Companies Inc. now owns 1,262,970 shares of the bank’s stock worth $47,639,000 after purchasing an additional 208,599 shares during the period. First Trust Advisors LP lifted its holdings in shares of Cathay General Bancorp by 18.4% in the 4th quarter. First Trust Advisors LP now owns 861,364 shares of the bank’s stock worth $38,391,000 after purchasing an additional 133,852 shares during the last quarter. Finally, Norges Bank acquired a new position in Cathay General Bancorp during the 4th quarter valued at approximately $34,563,000. Institutional investors and hedge funds own 75.01% of the company’s stock.

Insiders Place Their Bets

In other Cathay General Bancorp news, Vice Chairman Peter Wu sold 20,000 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $45.19, for a total transaction of $903,800.00. Following the transaction, the insider now directly owns 355,252 shares in the company, valued at approximately $16,053,837.88. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Vice Chairman Peter Wu sold 20,000 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $45.19, for a total value of $903,800.00. Following the completion of the transaction, the insider now directly owns 355,252 shares of the company’s stock, valued at approximately $16,053,837.88. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Kim R. Bingham sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $44.89, for a total transaction of $269,340.00. Following the transaction, the executive vice president now directly owns 45,530 shares of the company’s stock, valued at $2,043,841.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,401 shares of company stock valued at $1,728,581. 4.76% of the stock is currently owned by corporate insiders.

Cathay General Bancorp Price Performance

Shares of NASDAQ:CATY opened at $42.00 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $3.03 billion, a P/E ratio of 9.29 and a beta of 1.11. The business has a 50-day moving average of $42.61 and a two-hundred day moving average of $38.88. Cathay General Bancorp has a fifty-two week low of $32.08 and a fifty-two week high of $45.88.

Cathay General Bancorp (NASDAQ:CATY) last announced its quarterly earnings results on Monday, July 22nd. The bank reported $0.92 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.02). Cathay General Bancorp had a net margin of 22.08% and a return on equity of 11.96%. The company had revenue of $178.53 million for the quarter, compared to analyst estimates of $179.19 million. During the same quarter last year, the business earned $1.28 EPS. The company’s revenue for the quarter was down 12.8% on a year-over-year basis. On average, equities research analysts predict that Cathay General Bancorp will post 4.03 EPS for the current fiscal year.

Cathay General Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Thursday, August 29th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend was Thursday, August 29th. Cathay General Bancorp’s dividend payout ratio (DPR) is currently 30.09%.

Wall Street Analysts Forecast Growth

CATY has been the topic of several analyst reports. Wedbush increased their target price on Cathay General Bancorp from $44.00 to $50.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Truist Financial lifted their price objective on shares of Cathay General Bancorp from $45.00 to $47.00 and gave the company a “hold” rating in a research report on Friday, September 20th. Piper Sandler upped their target price on shares of Cathay General Bancorp from $32.00 to $36.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 23rd. Finally, StockNews.com upgraded shares of Cathay General Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, July 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $43.50.

About Cathay General Bancorp

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.