SG Americas Securities LLC trimmed its stake in shares of Cathay General Bancorp (NASDAQ:CATY – Get Rating) by 62.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,623 shares of the bank’s stock after selling 14,457 shares during the quarter. SG Americas Securities LLC’s holdings in Cathay General Bancorp were worth $332,000 at the end of the most recent reporting period.
→ The Next Big Crisis Is Here (From Porter & Company)
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Parallel Advisors LLC boosted its position in Cathay General Bancorp by 91.6% during the second quarter. Parallel Advisors LLC now owns 1,069 shares of the bank’s stock worth $42,000 after purchasing an additional 511 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Cathay General Bancorp by 490.0% in the second quarter. Nisa Investment Advisors LLC now owns 1,180 shares of the bank’s stock valued at $46,000 after acquiring an additional 980 shares during the period. Covestor Ltd boosted its position in shares of Cathay General Bancorp by 73.5% in the first quarter. Covestor Ltd now owns 1,157 shares of the bank’s stock valued at $52,000 after acquiring an additional 490 shares during the period. Point72 Hong Kong Ltd bought a new stake in shares of Cathay General Bancorp in the second quarter valued at about $54,000. Finally, Quantbot Technologies LP boosted its position in shares of Cathay General Bancorp by 2,569.6% in the second quarter. Quantbot Technologies LP now owns 2,723 shares of the bank’s stock valued at $106,000 after acquiring an additional 2,621 shares during the period. 67.15% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other Cathay General Bancorp news, Vice Chairman Anthony M. Tang sold 10,000 shares of the business’s stock in a transaction dated Friday, December 9th. The stock was sold at an average price of $43.24, for a total transaction of $432,400.00. Following the completion of the transaction, the insider now owns 213,964 shares of the company’s stock, valued at $9,251,803.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Vice Chairman Peter Wu sold 2,905 shares of the company’s stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $45.05, for a total value of $130,870.25. Following the completion of the transaction, the insider now owns 392,347 shares of the company’s stock, valued at $17,675,232.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Anthony M. Tang sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, December 9th. The shares were sold at an average price of $43.24, for a total value of $432,400.00. Following the completion of the transaction, the insider now directly owns 213,964 shares of the company’s stock, valued at approximately $9,251,803.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,905 shares of company stock valued at $790,170. 4.30% of the stock is currently owned by corporate insiders.
Cathay General Bancorp Stock Up 0.6 %
CATY stock opened at $42.23 on Friday. The company has a market cap of $3.14 billion, a PE ratio of 8.71 and a beta of 1.17. The business has a 50-day simple moving average of $42.64 and a 200 day simple moving average of $42.52. Cathay General Bancorp has a 52 week low of $37.37 and a 52 week high of $48.88. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.25.
Cathay General Bancorp (NASDAQ:CATY – Get Rating) last issued its earnings results on Wednesday, January 25th. The bank reported $1.33 EPS for the quarter, missing the consensus estimate of $1.39 by ($0.06). The business had revenue of $213.90 million for the quarter, compared to analyst estimates of $217.67 million. Cathay General Bancorp had a return on equity of 14.80% and a net margin of 39.71%. The firm’s revenue was up 22.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.98 EPS. Sell-side analysts anticipate that Cathay General Bancorp will post 5.35 EPS for the current fiscal year.
Cathay General Bancorp Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, December 9th. Shareholders of record on Tuesday, November 29th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.22%. The ex-dividend date was Monday, November 28th. Cathay General Bancorp’s payout ratio is 28.04%.
Wall Street Analysts Forecast Growth
CATY has been the subject of a number of recent research reports. Piper Sandler reduced their target price on shares of Cathay General Bancorp from $47.00 to $46.00 and set a “neutral” rating for the company in a research report on Thursday. DA Davidson boosted their target price on shares of Cathay General Bancorp to $47.00 in a research report on Thursday, October 27th. Stephens boosted their price target on Cathay General Bancorp from $43.00 to $44.00 in a research note on Thursday. Finally, StockNews.com downgraded Cathay General Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, November 22nd.
Cathay General Bancorp Company Profile
(Get Rating)
Cathay General Bancorp is a holding company, which engages in the provision of financial services. It offers commercial mortgage loans, commercial loans, small business administration loans, residential mortgage loans, real estate construction loans, home equity lines of credit, and installment loans to individuals for automobile, household, and other consumer expenditures.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Cathay General Bancorp, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Cathay General Bancorp wasn’t on the list.
While Cathay General Bancorp currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
