9,156 Shares in Cathay General Bancorp $CATY Purchased by Capstone Investment Advisors LLC

Capstone Investment Advisors 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 9,156 shares of the bank’s stock, valued at approximately $568,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Global Retirement Partners LLC purchased a new stake in Cathay General Bancorp during the second quarter valued at about $31,000. Danske Bank A S purchased a new position in shares of Cathay General Bancorp in the 3rd quarter worth about $48,000. Allworth Financial LP purchased a new stake in Cathay General Bancorp in the second quarter worth approximately $53,000. Hantz Financial Services Inc. boosted its stake in Cathay General Bancorp by 55.8% in the fourth quarter. Hantz Financial Services Inc. now owns 1,525 shares of the bank’s stock worth $74,000 after buying an additional 546 shares in the last quarter. Finally, NewEdge Advisors LLC grew its position in Cathay General Bancorp by 319.7% during the second quarter. NewEdge Advisors LLC now owns 1,704 shares of the bank’s stock valued at $78,000 after acquiring an additional 1,298 shares during the last quarter. Institutional investors own 75.01% of the company’s stock.

Insider Buying and Selling at Cathay General Bancorp

In other news, Director Richard Sun sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $63.31, for a total value of $1,266,200.00. Following the transaction, the director owned 7,315 shares of the company’s stock, valued at $463,112.65. This trade represents a 73.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Thomas M. Lo sold 1,600 shares of Cathay General Bancorp stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $62.47, for a total value of $99,952.00. Following the transaction, the executive vice president directly owned 2,362 shares in the company, valued at approximately $147,554.14. The trade was a 40.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 30,600 shares of company stock worth $1,934,052 over the last quarter. 4.53% of the stock is owned by company insiders.

Analysts Set New Price Targets

CATY has been the topic of several analyst reports. Stephens lifted their target price on shares of Cathay General Bancorp from $56.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 23rd. Keefe, Bruyette & Woods raised their price target on shares of Cathay General Bancorp from $64.00 to $67.00 and gave the stock a “market perform” rating in a report on Thursday, July 23rd. DA Davidson boosted their price objective on shares of Cathay General Bancorp from $56.00 to $66.00 and gave the company a “neutral” rating in a research report on Thursday, July 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cathay General Bancorp in a research note on Monday, July 6th. Finally, Zacks Research lowered shares of Cathay General Bancorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 12th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $62.25.

Cathay General Bancorp Price Performance

Shares of NASDAQ:CATY opened at $61.87 on Friday. Cathay General Bancorp has a fifty-two week low of $44.57 and a fifty-two week high of $65.25. The business has a 50-day simple moving average of $62.60 and a two-hundred day simple moving average of $56.87. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market cap of $4.13 billion, a price-to-earnings ratio of 12.08 and a beta of 0.86.

Cathay General Bancorp (NASDAQ:CATY) last announced its quarterly earnings results on Wednesday, July 22nd. The bank reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.02. Cathay General Bancorp had a net margin of 24.66% and a return on equity of 11.71%. The firm had revenue of $221.20 million for the quarter, compared to the consensus estimate of $218.28 million. During the same quarter last year, the firm posted $1.10 EPS. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. On average, analysts expect that Cathay General Bancorp will post 5.48 earnings per share for the current year.

Cathay General Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Friday, August 28th will be given a dividend of $0.38 per share. The ex-dividend date is Friday, August 28th. This represents a $1.52 annualized dividend and a yield of 2.5%. Cathay General Bancorp’s payout ratio is 29.69%.

Cathay General Bancorp Profile

Cathay General Bancorp is a bank holding company headquartered in Los Angeles, California, trading on NASDAQ under the symbol CATY. Its principal subsidiary, Cathay Bank, provides a full suite of financial services to commercial, institutional and retail clients. As a community-focused institution, the company emphasizes relationship banking and tailored solutions for businesses and individuals.

Founded in 1962 by a group of Chinese American entrepreneurs, Cathay has expanded from a single branch operation in downtown Los Angeles into one of the largest Asian-American banks in the United States.