Chicago Equity Partners LLC purchased a new stake in shares of Cathay General Bancorp (NASDAQ:CATY) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 87,875 shares of the bank’s stock, valued at approximately $3,335,000. Chicago Equity Partners LLC owned 0.11% of Cathay General Bancorp as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Cathay General Bancorp by 9.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,029 shares of the bank’s stock valued at $115,000 after buying an additional 252 shares during the period. Oakbrook Investments LLC bought a new position in Cathay General Bancorp during the second quarter valued at about $211,000. First Citizens Bank & Trust Co. bought a new position in Cathay General Bancorp during the second quarter valued at about $218,000. LS Investment Advisors LLC grew its position in Cathay General Bancorp by 19.0% during 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 period. Finally, Oxford Asset Management bought a new position in Cathay General Bancorp during the first quarter valued at about $224,000. Institutional investors own 67.80% of the company’s stock.

Cathay General Bancorp (NASDAQ CATY) opened at 35.58 on Monday. The company has a market capitalization of $2.87 billion, a price-to-earnings ratio of 14.64 and a beta of 1.29. Cathay General Bancorp has a 52-week low of $28.84 and a 52-week high of $40.83. The stock has a 50 day moving average of $36.60 and a 200-day moving average of $37.59.

Cathay General Bancorp (NASDAQ:CATY) last announced its quarterly earnings data on Wednesday, July 19th. The bank reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.03. The company had revenue of $123.50 million during the quarter, compared to the consensus estimate of $129.10 million. Cathay General Bancorp had a return on equity of 10.54% and a net margin of 35.30%. During the same period in the previous year, the company posted $0.44 EPS. On average, equities research analysts anticipate that Cathay General Bancorp will post $2.44 earnings per share 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 is Wednesday, August 30th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.36%. Cathay General Bancorp’s dividend payout ratio (DPR) is presently 34.57%.

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In related news, Vice Chairman Anthony M. Tang sold 50,000 shares of the business’s stock in a transaction that occurred 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 filing with the SEC, which is available at this hyperlink. Insiders own 5.76% of the company’s stock.

CATY has been the subject of a number of research reports. Keefe, Bruyette & Woods set a $37.00 target price on shares of Cathay General Bancorp and gave the stock a “hold” rating in a research report on Monday, May 22nd. Zacks Investment Research upgraded shares of Cathay General Bancorp from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research report on Thursday, June 1st. Royal Bank Of Canada increased their target price on shares of Cathay General Bancorp from $35.00 to $43.00 and gave the stock an “outperform” rating in a research report on Thursday, July 20th. BidaskClub upgraded shares of Cathay General Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, July 3rd. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $42.00 target price on shares of Cathay General Bancorp in a research report on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $40.83.

About Cathay General Bancorp

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.

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

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