Stevens Capital Management LP Has $1.77 Million Stake in Cathay General Bancorp (CATY)
Stevens Capital Management LP raised its stake in shares of Cathay General Bancorp (NASDAQ:CATY) by 152.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,914 shares of the bank’s stock after purchasing an additional 26,535 shares during the quarter. Stevens Capital Management LP owned 0.05% of Cathay General Bancorp worth $1,765,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently 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 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,029 shares of the bank’s stock worth $115,000 after acquiring an additional 252 shares during the last quarter. Flinton Capital Management LLC increased its position in Cathay General Bancorp by 65.9% during the 2nd 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 during the period. Riverhead Capital Management LLC boosted its holdings in shares of Cathay General Bancorp by 63.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,924 shares of the bank’s stock valued at $149,000 after buying an additional 1,524 shares in the last quarter. Oakbrook Investments LLC bought a new stake in shares of Cathay General Bancorp during the 2nd quarter valued at $211,000. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of Cathay General Bancorp during the 3rd quarter valued at $223,000. Institutional investors and hedge funds own 67.94% of the company’s stock.
A number of brokerages recently issued reports on CATY. Royal Bank Of Canada upped their price target on shares of Cathay General Bancorp from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, October 26th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $43.00 price target on shares of Cathay General Bancorp in a research report on Friday, September 1st. Zacks Investment Research raised shares of Cathay General Bancorp from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a report on Monday, September 18th. SunTrust Banks, Inc. started coverage on shares of Cathay General Bancorp in a report on Friday, August 18th. They issued a “hold” rating and a $39.00 target price for the company. Finally, BMO Capital Markets reissued a “buy” rating and issued a $44.00 target price on shares of Cathay General Bancorp in a report on Thursday, October 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $42.14.
Shares of Cathay General Bancorp (NASDAQ:CATY) opened at $39.31 on Monday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.37. Cathay General Bancorp has a fifty-two week low of $32.90 and a fifty-two week high of $42.64. The stock has a market cap of $3,177.03, a P/E ratio of 15.79, a price-to-earnings-growth ratio of 1.97 and a beta of 1.34.
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 analysts’ consensus estimates of $0.60 by $0.01. Cathay General Bancorp had a net margin of 33.87% and a return on equity of 10.60%. The business had revenue of $146.20 million during the quarter, compared to analyst estimates of $135.27 million. During the same period last year, the firm posted $0.58 EPS. The company’s revenue was up 29.8% on a year-over-year basis. equities research analysts anticipate that Cathay General Bancorp will post 2.49 earnings per share for the current year.
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About Cathay General Bancorp
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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