Cathay General Bancorp (CATY) to Issue Quarterly Dividend of $0.21
Cathay General Bancorp (NASDAQ:CATY) declared a quarterly dividend on Thursday, November 17th. Shareholders of record on Thursday, December 1st will be paid a dividend of 0.21 per share on Monday, December 12th. This represents a $0.84 dividend on an annualized basis and a yield of 2.39%. This is an increase from Cathay General Bancorp’s previous quarterly dividend of $0.18.
Cathay General Bancorp (NASDAQ:CATY) opened at 35.13 on Friday. The firm has a market capitalization of $2.77 billion, a PE ratio of 16.82 and a beta of 1.12. Cathay General Bancorp has a 12 month low of $25.62 and a 12 month high of $36.19. The firm’s 50-day moving average is $31.08 and its 200-day moving average is $30.24.
Cathay General Bancorp (NASDAQ:CATY) last posted its quarterly earnings data on Wednesday, October 19th. The company reported $0.58 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by $0.01. Cathay General Bancorp had a return on equity of 9.58% and a net margin of 32.24%. During the same period last year, the company posted $0.47 EPS. On average, equities research analysts expect that Cathay General Bancorp will post $2.19 EPS for the current year.
In other news, CFO Heng W. Chen sold 44,000 shares of the stock in a transaction that occurred on Wednesday, November 16th. The stock was sold at an average price of $35.18, for a total value of $1,547,920.00. Following the completion of the sale, the chief financial officer now directly owns 73,940 shares of the company’s stock, valued at $2,601,209.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Peter Wu sold 30,000 shares of the stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $31.30, for a total value of $939,000.00. The disclosure for this sale can be found here. Company insiders own 6.36% of the company’s stock.
Several large investors have recently bought and sold shares of CATY. Price T Rowe Associates Inc. MD boosted its stake in Cathay General Bancorp by 9.8% in the third quarter. Price T Rowe Associates Inc. MD now owns 25,766 shares of the company’s stock valued at $793,000 after buying an additional 2,300 shares in the last quarter. Ameritas Investment Partners Inc. boosted its stake in Cathay General Bancorp by 65.6% in the third quarter. Ameritas Investment Partners Inc. now owns 28,787 shares of the company’s stock valued at $886,000 after buying an additional 11,406 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new stake in Cathay General Bancorp during the third quarter valued at $4,581,000. Advantus Capital Management Inc boosted its stake in Cathay General Bancorp by 1.6% in the third quarter. Advantus Capital Management Inc now owns 9,022 shares of the company’s stock valued at $278,000 after buying an additional 142 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its stake in Cathay General Bancorp by 16.0% in the third quarter. Two Sigma Advisers LP now owns 56,517 shares of the company’s stock valued at $1,740,000 after buying an additional 7,800 shares in the last quarter. 67.73% of the stock is owned by institutional investors.
Separately, Zacks Investment Research downgraded Cathay General Bancorp from a “hold” rating to a “sell” rating in a report on Friday, October 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $33.00.
Cathay General Bancorp Company Profile
Cathay General Bancorp is a bank holding company. The Company holds Cathay Bank, a California state-chartered commercial bank (the Bank); approximately seven limited partnerships investing in affordable housing investments, in which the Bank is the sole limited partner; GBC Venture Capital, Inc, and Asia Realty Corp.
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