Cathay General Bancorp (CATY) Stake Lifted by TIAA CREF Investment Management LLC
TIAA CREF Investment Management LLC lifted its holdings in Cathay General Bancorp (NASDAQ:CATY) by 1.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 364,248 shares of the bank’s stock after purchasing an additional 5,751 shares during the quarter. TIAA CREF Investment Management LLC owned 0.46% of Cathay General Bancorp worth $13,823,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in the company. Alps Advisors Inc. lifted its holdings in shares of Cathay General Bancorp by 0.3% during the second quarter. Alps Advisors Inc. now owns 12,271 shares of the bank’s stock valued at $466,000 after purchasing an additional 31 shares in the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its holdings in Cathay General Bancorp by 0.4% in the 2nd quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 14,626 shares of the bank’s stock worth $555,000 after buying an additional 52 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its holdings in Cathay General Bancorp by 0.5% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 19,343 shares of the bank’s stock worth $734,000 after buying an additional 100 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in Cathay General Bancorp by 1.7% in the 2nd quarter. Teacher Retirement System of Texas now owns 6,069 shares of the bank’s stock worth $230,000 after buying an additional 101 shares in the last quarter. Finally, Northwestern Mutual Investment Management Company LLC increased its holdings in Cathay General Bancorp by 0.9% in the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 12,898 shares of the bank’s stock worth $486,000 after buying an additional 118 shares in the last quarter. 67.78% of the stock is currently owned by hedge funds and other institutional investors.
Cathay General Bancorp (NASDAQ:CATY) opened at 40.20 on Monday. Cathay General Bancorp has a 1-year low of $28.84 and a 1-year high of $40.89. The stock has a market capitalization of $3.25 billion, a P/E ratio of 16.54 and a beta of 1.30. The stock 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 announced its quarterly earnings data on Wednesday, July 19th. The bank reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.03. The firm had revenue of $123.50 million during the quarter, compared to analyst estimates of $129.10 million. Cathay General Bancorp had a net margin of 35.30% and a return on equity of 10.54%. During the same period last year, the firm posted $0.44 EPS. Equities research analysts expect that Cathay General Bancorp will post $2.45 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Friday, September 1st were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.09%. The ex-dividend date was Wednesday, August 30th. Cathay General Bancorp’s dividend payout ratio is presently 34.57%.
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CATY has been the subject of a number of recent analyst reports. BidaskClub raised Cathay General Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Keefe, Bruyette & Woods restated a “hold” rating and set a $37.00 target price on shares of Cathay General Bancorp in a research note on Tuesday, July 25th. Zacks Investment Research raised shares of Cathay General Bancorp from a “hold” rating to a “strong-buy” rating and set a $44.00 price target on the stock in a report on Friday, July 21st. Piper Jaffray Companies reaffirmed a “buy” rating and set a $42.00 price target on shares of Cathay General Bancorp in a report on Wednesday, July 12th. Finally, Royal Bank Of Canada lifted their price target on shares of Cathay General Bancorp from $35.00 to $43.00 and gave the stock an “outperform” rating in a research note on Thursday, July 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $40.33.
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); 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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