Geode Capital Management LLC boosted its stake in shares of Cathay General Bancorp (NASDAQ:CATY - Free Report) by 1.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,713,650 shares of the bank's stock after purchasing an additional 20,840 shares during the period. Geode Capital Management LLC owned 2.41% of Cathay General Bancorp worth $73,615,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of CATY. Louisiana State Employees Retirement System boosted its holdings in shares of Cathay General Bancorp by 1.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 36,600 shares of the bank's stock valued at $1,381,000 after buying an additional 600 shares during the last quarter. Access Investment Management LLC grew its position in shares of Cathay General Bancorp by 1.1% in the 2nd quarter. Access Investment Management LLC now owns 20,520 shares of the bank's stock valued at $774,000 after acquiring an additional 225 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Cathay General Bancorp by 4.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,954 shares of the bank's stock worth $602,000 after purchasing an additional 739 shares during the last quarter. IFG Advisory LLC bought a new stake in shares of Cathay General Bancorp in the 2nd quarter valued at about $384,000. Finally, Arizona State Retirement System lifted its stake in Cathay General Bancorp by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 19,327 shares of the bank's stock valued at $729,000 after purchasing an additional 360 shares during the last quarter. 75.01% of the stock is currently owned by institutional investors.
In other news, Vice Chairman Peter Wu sold 40,000 shares of the company's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $52.87, for a total transaction of $2,114,800.00. Following the completion of the sale, the insider now directly owns 295,252 shares in the company, valued at approximately $15,609,973.24. This represents a 11.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Thomas M. Lo sold 900 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $47.00, for a total value of $42,300.00. Following the sale, the executive vice president now directly owns 3,359 shares in the company, valued at approximately $157,873. This trade represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 48,189 shares of company stock valued at $2,500,047 in the last quarter. Company insiders own 4.76% of the company's stock.
Cathay General Bancorp stock opened at $47.49 on Friday. The company has a market capitalization of $3.38 billion, a price-to-earnings ratio of 11.96 and a beta of 1.12. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.07. Cathay General Bancorp has a 12 month low of $33.88 and a 12 month high of $55.29. The stock's 50 day moving average is $49.30 and its 200-day moving average is $43.66.
Cathay General Bancorp (NASDAQ:CATY - Get Free Report) last issued its quarterly earnings data on Monday, October 21st. The bank reported $0.94 EPS for the quarter, missing analysts' consensus estimates of $0.95 by ($0.01). Cathay General Bancorp had a net margin of 20.57% and a return on equity of 11.30%. The firm had revenue of $359.86 million during the quarter, compared to analyst estimates of $182.70 million. During the same period in the prior year, the company earned $1.13 earnings per share. Equities research analysts expect that Cathay General Bancorp will post 3.99 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Wednesday, November 27th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.86%. The ex-dividend date was Wednesday, November 27th. Cathay General Bancorp's dividend payout ratio (DPR) is 34.26%.
CATY has been the topic of a number of recent analyst reports. Stephens raised Cathay General Bancorp from an "equal weight" rating to an "overweight" rating in a research report on Monday, December 9th. Keefe, Bruyette & Woods boosted their target price on Cathay General Bancorp from $45.00 to $56.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. Truist Financial increased their price target on Cathay General Bancorp from $45.00 to $47.00 and gave the company a "hold" rating in a research note on Friday, September 20th. Finally, Wedbush lifted their price objective on shares of Cathay General Bancorp from $50.00 to $52.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Cathay General Bancorp currently has an average rating of "Hold" and a consensus price target of $47.75.
Check Out Our Latest Report on CATY
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.
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