GW&K Investment Management LLC lessened its holdings in Cathay General Bancorp (NASDAQ:CATY) by 4.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,020,498 shares of the bank’s stock after selling 49,642 shares during the period. GW&K Investment Management LLC’s holdings in Cathay General Bancorp were worth $43,034,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Cathay General Bancorp by 9.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,029 shares of the bank’s stock valued at $115,000 after purchasing an additional 252 shares in the last quarter. Flinton Capital Management LLC lifted its holdings in shares of Cathay General Bancorp by 65.9% in the second quarter. Flinton Capital Management LLC now owns 3,584 shares of the bank’s stock valued at $136,000 after purchasing an additional 1,424 shares in the last quarter. Riverhead Capital Management LLC lifted its holdings 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 in the last quarter. Allianz Asset Management GmbH purchased a new stake in shares of Cathay General Bancorp in the third quarter valued at about $206,000. Finally, Narus Financial Partners LLC purchased a new stake in shares of Cathay General Bancorp in the third quarter valued at about $207,000. 67.47% of the stock is currently owned by institutional investors.

In related news, insider Dunson K. Cheng sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $42.45, for a total transaction of $2,122,500.00. Following the completion of the transaction, the insider now owns 119,591 shares of the company’s stock, valued at $5,076,637.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Irwin Wong sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $43.10, for a total transaction of $431,000.00. The disclosure for this sale can be found here. Insiders have sold 66,059 shares of company stock worth $2,807,978 in the last three months. Insiders own 5.76% of the company’s stock.

Shares of Cathay General Bancorp (NASDAQ:CATY) traded up $0.69 on Friday, hitting $44.77. 246,035 shares of the company traded hands, compared to its average volume of 302,946. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $3,603.76, a P/E ratio of 18.20, a price-to-earnings-growth ratio of 1.95 and a beta of 1.35. Cathay General Bancorp has a fifty-two week low of $34.00 and a fifty-two week high of $45.54.

Cathay General Bancorp (NASDAQ:CATY) last announced its quarterly earnings data on Wednesday, October 25th. The bank reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.01. The business had revenue of $146.20 million for the quarter, compared to the consensus estimate of $135.27 million. Cathay General Bancorp had a net margin of 33.87% and a return on equity of 10.60%. The company’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.58 earnings per share. equities research analysts expect that Cathay General Bancorp will post 2.49 earnings per share for the current fiscal year.

Several analysts have issued reports on CATY shares. BMO Capital Markets upped their price target on shares of Cathay General Bancorp from $44.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, November 3rd. Zacks Investment Research raised shares of Cathay General Bancorp from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a report on Wednesday, October 11th. Sandler O’Neill reaffirmed a “hold” rating and issued a $45.00 price target on shares of Cathay General Bancorp in a report on Thursday, January 4th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $43.00 price target on shares of Cathay General Bancorp in a report on Friday, October 6th. Finally, ValuEngine downgraded shares of Cathay General Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Cathay General Bancorp presently has an average rating of “Hold” and an average target price of $44.50.

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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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Institutional Ownership by Quarter for Cathay General Bancorp (NASDAQ:CATY)

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