Moody Aldrich Partners LLC Has $3.93 Million Position in Cathay General Bancorp $CATY

Moody Aldrich Partners LLC raised its position in Cathay General Bancorp (NASDAQ:CATY) by 96.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 81,799 shares of the bank’s stock after purchasing an additional 40,214 shares during the quarter. Moody Aldrich Partners LLC owned 0.12% of Cathay General Bancorp worth $3,927,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CATY. GAMMA Investing LLC raised its holdings in Cathay General Bancorp by 9.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,641 shares of the bank’s stock valued at $127,000 after buying an additional 218 shares during the last quarter. Atria Investments Inc lifted its holdings in shares of Cathay General Bancorp by 4.9% during the second quarter. Atria Investments Inc now owns 4,965 shares of the bank’s stock worth $226,000 after purchasing an additional 231 shares during the period. Cetera Investment Advisers increased its holdings in Cathay General Bancorp by 1.0% in the second quarter. Cetera Investment Advisers now owns 32,156 shares of the bank’s stock valued at $1,464,000 after purchasing an additional 312 shares during the period. SummerHaven Investment Management LLC raised its position in Cathay General Bancorp by 1.7% during the 2nd quarter. SummerHaven Investment Management LLC now owns 21,105 shares of the bank’s stock worth $961,000 after purchasing an additional 358 shares during the last quarter. Finally, CWM LLC lifted its holdings in Cathay General Bancorp by 16.1% during the 2nd quarter. CWM LLC now owns 2,769 shares of the bank’s stock worth $126,000 after buying an additional 383 shares during the period. 75.01% of the stock is currently owned by institutional investors.

Cathay General Bancorp Stock Down 0.8%

Shares of NASDAQ CATY opened at $48.39 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.11. The firm has a market cap of $3.29 billion, a PE ratio of 11.18 and a beta of 0.88. The company’s fifty day simple moving average is $48.26 and its 200 day simple moving average is $47.80. Cathay General Bancorp has a 12-month low of $36.06 and a 12-month high of $51.94.

Cathay General Bancorp (NASDAQ:CATY) last announced its quarterly earnings data on Tuesday, October 21st. The bank reported $1.13 earnings per share for the quarter, missing the consensus estimate 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 in the prior year, the company posted $0.94 EPS. As a group, sell-side analysts forecast that Cathay General Bancorp will post 4.47 earnings per share for the current fiscal year.

Cathay General Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Monday, December 1st were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Monday, December 1st. Cathay General Bancorp’s dividend payout ratio (DPR) is 31.41%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CATY shares. Weiss Ratings restated a “buy (b-)” rating on shares of Cathay General Bancorp in a research report on Monday. DA Davidson boosted their price target on shares of Cathay General Bancorp from $51.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, October 23rd. Wall Street Zen upgraded shares of Cathay General Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Cathay General Bancorp from $53.00 to $55.00 and gave the company a “market perform” rating in a report on Wednesday, October 22nd. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $50.60.

Insider Activity

In other news, Chairman Dunson K. Cheng sold 7,590 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $47.81, for a total transaction of $362,877.90. Following the transaction, the chairman directly owned 138,360 shares of the company’s stock, valued at $6,614,991.60. This represents a 5.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Thomas M. Lo sold 1,000 shares of the stock in a transaction on Monday, October 27th. The stock was sold at an average price of $46.83, for a total value of $46,830.00. Following the completion of the transaction, the executive vice president owned 3,000 shares in the company, valued at approximately $140,490. This represents a 25.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 38,755 shares of company stock worth $1,820,148 over the last quarter. 4.85% of the stock is currently owned by corporate insiders.

Cathay General Bancorp Company Profile

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.