Mutual of America Capital Management LLC Decreases Stake in Cathay General Bancorp (NASDAQ:CATY)

Mutual of America Capital Management LLC cut its holdings in shares of Cathay General Bancorp (NASDAQ:CATY) by 9.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,855 shares of the bank’s stock after selling 1,113 shares during the period. Mutual of America Capital Management LLC’s holdings in Cathay General Bancorp were worth $466,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CATY. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Cathay General Bancorp by 8.0% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 62,586 shares of the bank’s stock valued at $2,366,000 after acquiring an additional 4,655 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Cathay General Bancorp by 6.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 40,085 shares of the bank’s stock worth $1,517,000 after purchasing an additional 2,584 shares during the period. Virtu Financial LLC bought a new stake in Cathay General Bancorp in the 1st quarter worth approximately $416,000. CWM LLC raised its stake in Cathay General Bancorp by 168.6% during the 2nd quarter. CWM LLC now owns 1,265 shares of the bank’s stock valued at $48,000 after buying an additional 794 shares during the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of Cathay General Bancorp by 504.2% during the 2nd quarter. SG Americas Securities LLC now owns 24,568 shares of the bank’s stock valued at $927,000 after buying an additional 20,502 shares during the period. 75.01% of the stock is currently owned by institutional investors.

Cathay General Bancorp Trading Down 1.2 %

Shares of NASDAQ:CATY opened at $52.31 on Thursday. Cathay General Bancorp has a 12-month low of $33.88 and a 12-month high of $55.29. The company has a market cap of $3.72 billion, a PE ratio of 13.30 and a beta of 1.10. The stock has a 50 day moving average of $46.50 and a 200 day moving average of $42.10. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.07.

Cathay General Bancorp (NASDAQ:CATY) last released its earnings results on Monday, October 21st. The bank reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). The firm had revenue of $359.86 million for the quarter, compared to analysts’ expectations of $182.70 million. Cathay General Bancorp had a net margin of 20.57% and a return on equity of 11.30%. During the same quarter last year, the firm posted $1.13 EPS. As a group, equities research analysts expect that Cathay General Bancorp will post 3.99 EPS for the current year.

Cathay General Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Wednesday, November 27th will be issued a dividend of $0.34 per share. The ex-dividend date is Wednesday, November 27th. This represents a $1.36 annualized dividend and a dividend yield of 2.60%. Cathay General Bancorp’s dividend payout ratio (DPR) is 34.26%.

Analyst Ratings Changes

CATY has been the topic of a number of recent research reports. Truist Financial increased their target price on Cathay General Bancorp from $45.00 to $47.00 and gave the company a “hold” rating in a report on Friday, September 20th. Wedbush increased their price objective on shares of Cathay General Bancorp from $50.00 to $52.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Cathay General Bancorp presently has an average rating of “Hold” and a consensus target price of $44.00.

Insider Activity

In related news, EVP Thomas M. Lo sold 900 shares of Cathay General Bancorp stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $47.00, for a total transaction of $42,300.00. Following the completion of the sale, the executive vice president now owns 3,359 shares in the company, valued at $157,873. This trade represents a 21.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Vice Chairman Peter Wu sold 40,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $52.87, for a total transaction of $2,114,800.00. Following the completion of the transaction, the insider now owns 295,252 shares in the company, valued at $15,609,973.24. This represents a 11.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,189 shares of company stock worth $2,500,047. 4.76% of the stock is currently owned by insiders.

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.