Brandywine Global Investment Management LLC Sells 8,569 Shares of Cathay General Bancorp (CATY)
Brandywine Global Investment Management LLC reduced its stake in shares of Cathay General Bancorp (NASDAQ:CATY) by 3.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 248,229 shares of the bank’s stock after selling 8,569 shares during the period. Brandywine Global Investment Management LLC owned 0.31% of Cathay General Bancorp worth $9,421,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Cathay General Bancorp by 9.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,029 shares of the bank’s stock valued at $115,000 after acquiring an additional 252 shares in the last quarter. Riverhead Capital Management LLC grew its position in shares of Cathay General Bancorp by 63.5% in the second quarter. Riverhead Capital Management LLC now owns 3,924 shares of the bank’s stock valued at $149,000 after purchasing an additional 1,524 shares during the last quarter. Oakbrook Investments LLC acquired a new stake in shares of Cathay General Bancorp in the second quarter valued at about $211,000. First Citizens Bank & Trust Co. acquired a new stake in shares of Cathay General Bancorp in the second quarter valued at about $218,000. Finally, Oxford Asset Management acquired a new stake in shares of Cathay General Bancorp in the first quarter valued at about $224,000. 67.78% of the stock is owned by institutional investors.
Shares of Cathay General Bancorp (NASDAQ CATY) opened at 40.20 on Monday. Cathay General Bancorp has a 12 month low of $28.84 and a 12 month high of $40.89. The company has a market cap of $3.25 billion, a P/E ratio of 16.54 and a beta of 1.30. The firm has a 50 day moving average price of $35.96 and a 200-day moving average price of $37.26.
Cathay General Bancorp (NASDAQ:CATY) last issued its quarterly earnings data on Wednesday, July 19th. The bank reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.03. Cathay General Bancorp had a net margin of 35.30% and a return on equity of 10.54%. The firm had revenue of $123.50 million during the quarter, compared to the consensus estimate of $129.10 million. During the same period last year, the business posted $0.44 earnings per share. Analysts anticipate that Cathay General Bancorp will post $2.45 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Friday, September 1st were paid a dividend of $0.21 per share. The ex-dividend date was Wednesday, August 30th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.09%. Cathay General Bancorp’s dividend payout ratio (DPR) is currently 34.57%.
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Several equities analysts recently weighed in on CATY shares. Keefe, Bruyette & Woods reissued a “hold” rating and set a $37.00 price objective on shares of Cathay General Bancorp in a research report on Tuesday, July 25th. BidaskClub lowered Cathay General Bancorp from a “hold” rating to a “sell” rating in a report on Sunday, July 16th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $42.00 target price on shares of Cathay General Bancorp in a report on Wednesday, July 12th. Zacks Investment Research downgraded Cathay General Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, September 14th. Finally, Royal Bank Of Canada upped their price target on Cathay General Bancorp from $35.00 to $43.00 and gave the stock an “outperform” rating in a report on Thursday, July 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $40.33.
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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