Ameriprise Financial Inc. grew its holdings in Cathay General Bancorp (NASDAQ:CATY) by 2.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 971,119 shares of the bank’s stock after acquiring an additional 23,732 shares during the period. Ameriprise Financial Inc. owned about 1.20% of Cathay General Bancorp worth $39,038,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Alps Advisors Inc. increased its holdings in shares of Cathay General Bancorp by 0.3% in the second quarter. Alps Advisors Inc. now owns 12,271 shares of the bank’s stock worth $466,000 after purchasing an additional 31 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its holdings in shares of Cathay General Bancorp by 0.5% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 19,343 shares of the bank’s stock worth $734,000 after purchasing an additional 100 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in shares of Cathay General Bancorp by 1.7% in the second quarter. Teacher Retirement System of Texas now owns 6,069 shares of the bank’s stock worth $230,000 after purchasing an additional 101 shares during the last quarter. Pinebridge Investments L.P. increased its holdings in shares of Cathay General Bancorp by 0.6% in the second quarter. Pinebridge Investments L.P. now owns 40,055 shares of the bank’s stock worth $1,521,000 after purchasing an additional 244 shares during the last quarter. Finally, Amalgamated Bank increased its holdings in shares of Cathay General Bancorp by 2.4% in the second quarter. Amalgamated Bank now owns 10,680 shares of the bank’s stock worth $405,000 after purchasing an additional 250 shares during the last quarter. Institutional investors and hedge funds own 67.60% of the company’s stock.

Shares of Cathay General Bancorp (CATY) opened at $43.54 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.05 and a current ratio of 1.05. Cathay General Bancorp has a 52 week low of $34.00 and a 52 week high of $45.54. The firm has a market capitalization of $3,520.00, a P/E ratio of 17.43, a price-to-earnings-growth ratio of 2.18 and a beta of 1.34.

Cathay General Bancorp (NASDAQ:CATY) last issued its quarterly earnings data on Wednesday, October 25th. The bank reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.01. Cathay General Bancorp had a return on equity of 10.60% and a net margin of 33.87%. The company had revenue of $146.20 million for the quarter, compared to analysts’ expectations of $135.27 million. During the same period in the previous year, the firm posted $0.58 earnings per share. The firm’s revenue for the quarter was up 29.8% on a year-over-year basis. equities analysts predict that Cathay General Bancorp will post 2.49 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.24 per share. This is a boost from Cathay General Bancorp’s previous quarterly dividend of $0.21. This represents a $0.96 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Thursday, November 30th. Cathay General Bancorp’s payout ratio is presently 39.02%.

In other Cathay General Bancorp news, COO Irwin Wong sold 6,059 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $42.00, for a total transaction of $254,478.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 5.76% of the company’s stock.

Several equities research analysts have recently issued reports on the company. BidaskClub cut Cathay General Bancorp from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th. BMO Capital Markets cut Cathay General Bancorp from an “outperform” rating to a “market perform” rating and set a $45.00 target price on the stock. in a report on Thursday. SunTrust Banks assumed coverage on Cathay General Bancorp in a report on Friday, August 18th. They issued a “hold” rating and a $39.00 target price on the stock. Zacks Investment Research cut Cathay General Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $43.00 target price on shares of Cathay General Bancorp in a report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. Cathay General Bancorp currently has an average rating of “Hold” and an average price target of $42.14.

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Cathay General Bancorp 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.

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

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