State of Tennessee Treasury Department Continues to Hold Position in Cathay General Bancorp (CATY)
State of Tennessee Treasury Department continued to hold its stake in shares of Cathay General Bancorp (NASDAQ:CATY) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 70,000 shares of the company’s stock at the end of the third quarter. State of Tennessee Treasury Department owned 0.09% of Cathay General Bancorp worth $2,155,000 as of its most recent filing with the SEC.
A number of other large investors also recently modified their holdings of CATY. US Bancorp DE increased its stake in shares of Cathay General Bancorp by 13.1% in the second quarter. US Bancorp DE now owns 4,074 shares of the company’s stock worth $115,000 after buying an additional 473 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Cathay General Bancorp by 9.3% in the third quarter. Victory Capital Management Inc. now owns 3,733 shares of the company’s stock worth $115,000 after buying an additional 317 shares in the last quarter. BlackRock Japan Co. Ltd increased its stake in shares of Cathay General Bancorp by 23.0% in the second quarter. BlackRock Japan Co. Ltd now owns 4,388 shares of the company’s stock worth $124,000 after buying an additional 820 shares in the last quarter. LS Investment Advisors LLC increased its stake in shares of Cathay General Bancorp by 73.1% in the second quarter. LS Investment Advisors LLC now owns 4,415 shares of the company’s stock worth $125,000 after buying an additional 1,864 shares in the last quarter. Finally, Tower Research Capital LLC TRC acquired a new stake in shares of Cathay General Bancorp during the second quarter worth $160,000. 67.21% of the stock is currently owned by institutional investors and hedge funds.
Shares of Cathay General Bancorp (NASDAQ:CATY) traded up 1.146% during midday trading on Friday, hitting $37.505. The company’s stock had a trading volume of 156,026 shares. The stock’s 50 day moving average is $37.18 and its 200-day moving average is $32.01. The firm has a market cap of $2.96 billion, a P/E ratio of 17.954 and a beta of 1.20. Cathay General Bancorp has a 52-week low of $25.62 and a 52-week high of $38.99.
Cathay General Bancorp (NASDAQ:CATY) last issued its earnings results on Wednesday, October 19th. The company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by $0.01. Cathay General Bancorp had a net margin of 32.24% and a return on equity of 9.58%. During the same quarter in the prior year, the firm posted $0.47 EPS. Equities analysts predict that Cathay General Bancorp will post $2.19 EPS for the current fiscal year.
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Separately, Zacks Investment Research raised Cathay General Bancorp from a “sell” rating to a “hold” rating in a report on Monday, December 12th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Cathay General Bancorp has an average rating of “Buy” and a consensus target price of $34.40.
In other Cathay General Bancorp news, insider Dunson K. Cheng sold 20,000 shares of the business’s stock in a transaction on Monday, December 5th. The shares were sold at an average price of $36.07, for a total transaction of $721,400.00. Following the sale, the insider now owns 263,907 shares of the company’s stock, valued at approximately $9,519,125.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Heng W. Chen sold 44,000 shares of the business’s stock in a transaction on Wednesday, November 16th. The shares were sold at an average price of $35.18, for a total transaction of $1,547,920.00. Following the sale, the chief financial officer now directly owns 73,940 shares in the company, valued at approximately $2,601,209.20. The disclosure for this sale can be found here. Company insiders own 6.36% of the company’s stock.
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); approximately seven limited partnerships investing in affordable housing investments, in which the Bank is the sole limited partner; GBC Venture Capital, Inc, and Asia Realty Corp.
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