First Quadrant L P CA Has $2,482,000 Position in Cathay General Bancorp (NASDAQ:CATY)
First Quadrant L P CA held its position in shares of Cathay General Bancorp (NASDAQ:CATY) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 65,400 shares of the bank’s stock at the end of the second quarter. First Quadrant L P CA owned approximately 0.08% of Cathay General Bancorp worth $2,482,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of the company. Oxford Asset Management bought a new stake in shares of Cathay General Bancorp during the first quarter valued at about $224,000. LS Investment Advisors LLC raised its stake in shares of Cathay General Bancorp by 19.0% in the second quarter. LS Investment Advisors LLC now owns 5,935 shares of the bank’s stock valued at $225,000 after buying an additional 946 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Cathay General Bancorp during the fourth quarter valued at about $230,000. Allianz Asset Management AG bought a new stake in shares of Cathay General Bancorp during the fourth quarter valued at about $231,000. Finally, Koch Industries Inc. bought a new stake in shares of Cathay General Bancorp during the first quarter valued at about $245,000. 66.98% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Cathay General Bancorp (CATY) traded up 0.26% on Friday, hitting $35.06. 408,578 shares of the stock traded hands. Cathay General Bancorp has a 52-week low of $28.84 and a 52-week high of $40.83. The stock has a market cap of $2.83 billion, a P/E ratio of 14.43 and a beta of 1.27. The stock’s 50 day moving average price is $37.28 and its 200 day moving average price is $37.73.
Cathay General Bancorp (NASDAQ:CATY) last issued its quarterly earnings results on Wednesday, July 19th. The bank reported $0.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.03. Cathay General Bancorp had a return on equity of 10.54% and a net margin of 35.30%. The business had revenue of $123.50 million during the quarter, compared to the consensus estimate of $129.10 million. During the same period in the previous year, the business earned $0.44 EPS. On average, equities analysts expect that Cathay General Bancorp will post $2.44 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Friday, September 1st will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.84 dividend on an annualized basis and a yield of 2.40%. Cathay General Bancorp’s payout ratio is currently 34.57%.
COPYRIGHT VIOLATION NOTICE: This story was originally reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this story on another publication, it was stolen and republished in violation of United States & international trademark & copyright laws. The correct version of this story can be accessed at https://www.thecerbatgem.com/2017/08/19/first-quadrant-l-p-ca-holds-position-in-cathay-general-bancorp-nasdaqcaty-updated-updated-updated.html.
Several brokerages have commented on CATY. Zacks Investment Research raised shares of Cathay General Bancorp from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Thursday, June 1st. BidaskClub raised shares of Cathay General Bancorp from a “sell” rating to a “hold” rating in a report on Monday, July 3rd. Royal Bank Of Canada boosted their price target on shares of Cathay General Bancorp from $35.00 to $43.00 and gave the stock an “outperform” rating in a research note on Thursday, July 20th. Wedbush reissued a “neutral” rating and issued a $39.00 price target on shares of Cathay General Bancorp in a research note on Tuesday, June 27th. Finally, Keefe, Bruyette & Woods set a $37.00 price target on shares of Cathay General Bancorp and gave the stock a “hold” rating in a research note on Monday, May 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Cathay General Bancorp presently has a consensus rating of “Hold” and a consensus target price of $40.67.
In related news, Vice Chairman Anthony M. Tang sold 50,000 shares of the company’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $38.01, for a total transaction of $1,900,500.00. Following the completion of the transaction, the insider now directly owns 301,400 shares in the company, valued at approximately $11,456,214. The sale was disclosed in a document filed with the SEC, which is available through this link. 5.76% of the stock is owned by corporate insiders.
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); seven limited partnerships investing in affordable housing investments; GBC Venture Capital, Inc, and Asia Realty Corp. The Company also owns the common stock of five statutory business trusts created for issuing capital securities.
Receive News & Stock Ratings for Cathay General Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cathay General Bancorp and related stocks with our FREE daily email newsletter.