Cathay General Bancorp (CATY) to Issue Quarterly Dividend of $0.38 on September 8th

Cathay General Bancorp (NASDAQ:CATY) announced a quarterly dividend on Friday, August 14th. Stockholders of record on Friday, August 28th will be given a dividend of 0.38 per share by the bank on Tuesday, September 8th. This represents a c) annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Friday, August 28th.

Cathay General Bancorp has increased its dividend by an average of 0.0%annually over the last three years. Cathay General Bancorp has a dividend payout ratio of 30.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Cathay General Bancorp to earn $5.83 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 26.1%.

Cathay General Bancorp Stock Performance

Cathay General Bancorp stock opened at $61.89 on Wednesday. The business has a 50 day moving average of $62.43 and a 200-day moving average of $56.72. The company has a market capitalization of $4.13 billion, a P/E ratio of 12.09 and a beta of 0.86. Cathay General Bancorp has a 1 year low of $44.57 and a 1 year high of $65.25. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.04 and a quick ratio of 1.04.

Cathay General Bancorp (NASDAQ:CATY) last posted its earnings results on Wednesday, July 22nd. The bank reported $1.37 EPS for the quarter, topping the consensus estimate of $1.35 by $0.02. Cathay General Bancorp had a net margin of 24.66% and a return on equity of 11.71%. The business had revenue of $221.20 million for the quarter, compared to the consensus estimate of $218.28 million. During the same period last year, the company earned $1.10 EPS. The firm’s revenue was up 13.1% compared to the same quarter last year. On average, equities research analysts predict that Cathay General Bancorp will post 5.48 earnings per share for the current year.

Insider Transactions at Cathay General Bancorp

In other Cathay General Bancorp news, Director Richard Sun sold 20,000 shares of the firm’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $63.31, for a total value of $1,266,200.00. Following the completion of the sale, the director directly owned 7,315 shares in the company, valued at approximately $463,112.65. This trade represents a 73.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 28,000 shares of company stock worth $1,772,020 over the last 90 days. 4.53% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CATY. Royal Bank of Canada raised its holdings in shares of Cathay General Bancorp by 25.8% in the first quarter. Royal Bank of Canada now owns 14,761 shares of the bank’s stock valued at $634,000 after purchasing an additional 3,030 shares during the last quarter. AQR Capital Management LLC grew its position in Cathay General Bancorp by 20.0% in the 1st quarter. AQR Capital Management LLC now owns 40,456 shares of the bank’s stock worth $1,708,000 after purchasing an additional 6,740 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Cathay General Bancorp by 1.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,395 shares of the bank’s stock worth $1,738,000 after purchasing an additional 760 shares in the last quarter. Caxton Associates LLP bought a new position in shares of Cathay General Bancorp during the 1st quarter worth approximately $316,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Cathay General Bancorp by 5.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 183,090 shares of the bank’s stock worth $7,878,000 after buying an additional 8,914 shares during the last quarter. Institutional investors and hedge funds own 75.01% of the company’s stock.

About Cathay General Bancorp

Cathay General Bancorp is a bank holding company headquartered in Los Angeles, California, trading on NASDAQ under the symbol CATY. Its principal subsidiary, Cathay Bank, provides a full suite of financial services to commercial, institutional and retail clients. As a community-focused institution, the company emphasizes relationship banking and tailored solutions for businesses and individuals.

Founded in 1962 by a group of Chinese American entrepreneurs, Cathay has expanded from a single branch operation in downtown Los Angeles into one of the largest Asian-American banks in the United States.