Cathay General Bancorp $CATY Stake Raised by SG Americas Securities LLC

SG Americas Securities LLC lifted its holdings in shares of Cathay General Bancorp (NASDAQ:CATY) by 205.6% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 12,063 shares of the bank’s stock after acquiring an additional 8,116 shares during the period. SG Americas Securities LLC’s holdings in Cathay General Bancorp were worth $549,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in CATY. Envestnet Asset Management Inc. boosted its position in Cathay General Bancorp by 6.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 33,501 shares of the bank’s stock worth $1,442,000 after acquiring an additional 1,926 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of Cathay General Bancorp during the first quarter valued at $220,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Cathay General Bancorp by 2.1% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,023 shares of the bank’s stock valued at $905,000 after purchasing an additional 442 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in Cathay General Bancorp in the first quarter worth about $46,000. Finally, Vestcor Inc acquired a new stake in Cathay General Bancorp in the first quarter worth about $214,000. 75.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Cathay General Bancorp news, EVP Thomas M. Lo sold 1,000 shares of the business’s stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $46.83, for a total transaction of $46,830.00. Following the sale, the executive vice president owned 3,000 shares in the company, valued at approximately $140,490. The trade was a 25.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Dunson K. Cheng sold 14,000 shares of the company’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $46.24, for a total transaction of $647,360.00. Following the sale, the chairman directly owned 155,950 shares of the company’s stock, valued at $7,211,128. This represents a 8.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 38,755 shares of company stock valued at $1,820,148. 4.85% of the stock is owned by corporate insiders.

Cathay General Bancorp Trading Down 0.2%

Shares of NASDAQ:CATY opened at $49.13 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.05 and a current ratio of 1.04. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of 11.35 and a beta of 0.97. Cathay General Bancorp has a 1-year low of $36.06 and a 1-year high of $53.29. The company has a 50 day moving average price of $47.39 and a 200 day moving average price of $46.76.

Cathay General Bancorp (NASDAQ:CATY) last announced its quarterly earnings data on Tuesday, October 21st. The bank reported $1.13 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.02). The company had revenue of $210.61 million for the quarter, compared to analyst estimates of $202.71 million. Cathay General Bancorp had a net margin of 22.26% and a return on equity of 10.60%. During the same quarter last year, the company posted $0.94 EPS. On average, research analysts anticipate that Cathay General Bancorp will post 4.47 EPS for the current fiscal year.

Cathay General Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Monday, December 1st will be given a $0.34 dividend. The ex-dividend date is Monday, December 1st. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.8%. Cathay General Bancorp’s dividend payout ratio (DPR) is 31.41%.

Analysts Set New Price Targets

CATY has been the topic of several research analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Cathay General Bancorp in a research note on Tuesday. Stephens lowered shares of Cathay General Bancorp from an “overweight” rating to an “equal weight” rating and set a $50.00 price objective on the stock. in a research note on Monday, August 4th. DA Davidson boosted their target price on Cathay General Bancorp from $51.00 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, October 23rd. Wall Street Zen raised Cathay General Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Finally, Keefe, Bruyette & Woods lifted their price target on Cathay General Bancorp from $53.00 to $55.00 and gave the company a “market perform” rating in a research report on Wednesday, October 22nd. 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 stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $50.60.

Cathay General Bancorp Company Profile

Cathay General Bancorp operates as the holding company for Cathay Bank that offers various commercial banking products and services to individuals, professionals, and small to medium-sized businesses in the United States. The company offers various deposit products, including passbook accounts, checking accounts, money market deposit accounts, certificates of deposit, individual retirement accounts, and public funds deposits.