Cathay General Bancorp (NASDAQ:CATY) Shares Sold by Swiss National Bank

Swiss National Bank cut its stake in Cathay General Bancorp (NASDAQ:CATY) by 0.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 135,100 shares of the bank’s stock after selling 700 shares during the quarter. Swiss National Bank’s holdings in Cathay General Bancorp were worth $5,803,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. CANADA LIFE ASSURANCE Co raised its stake in shares of Cathay General Bancorp by 8.0% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 62,586 shares of the bank’s stock worth $2,366,000 after buying an additional 4,655 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Cathay General Bancorp by 6.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 40,085 shares of the bank’s stock worth $1,517,000 after buying an additional 2,584 shares during the period. Virtu Financial LLC acquired a new position in shares of Cathay General Bancorp during the 1st quarter worth approximately $416,000. CWM LLC raised its stake in shares of Cathay General Bancorp by 168.6% during the 2nd quarter. CWM LLC now owns 1,265 shares of the bank’s stock worth $48,000 after buying an additional 794 shares during the period. Finally, SG Americas Securities LLC raised its stake in shares of Cathay General Bancorp by 504.2% during the 2nd quarter. SG Americas Securities LLC now owns 24,568 shares of the bank’s stock worth $927,000 after buying an additional 20,502 shares during the period. 75.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on CATY shares. Truist Financial upped their target price on Cathay General Bancorp from $45.00 to $47.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Wedbush upped their target price on Cathay General Bancorp from $50.00 to $52.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $44.00.

Cathay General Bancorp Stock Down 1.2 %

NASDAQ CATY opened at $52.31 on Thursday. The business has a fifty day moving average price of $46.50 and a 200 day moving average price of $42.10. Cathay General Bancorp has a one year low of $33.88 and a one year high of $55.29. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market cap of $3.72 billion, a P/E ratio of 13.18 and a beta of 1.10.

Cathay General Bancorp (NASDAQ:CATY) last posted its quarterly earnings data on Monday, October 21st. The bank reported $0.94 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.01). The firm had revenue of $359.86 million during the quarter, compared to analyst estimates of $182.70 million. Cathay General Bancorp had a net margin of 20.57% and a return on equity of 11.30%. During the same period in the prior year, the company posted $1.13 earnings per share. Research analysts anticipate that Cathay General Bancorp will post 3.99 EPS for the current fiscal year.

Cathay General Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Wednesday, November 27th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.60%. The ex-dividend date is Wednesday, November 27th. Cathay General Bancorp’s payout ratio is currently 34.26%.

Insider Buying and Selling at Cathay General Bancorp

In other news, 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 transaction of $42,300.00. Following the completion of the transaction, the executive vice president now directly owns 3,359 shares in the company, valued at approximately $157,873. This represents a 21.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Peter Wu sold 7,289 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $47.05, for a total value of $342,947.45. Following the transaction, the insider now owns 347,963 shares of the company’s stock, valued at approximately $16,371,659.15. This represents a 2.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 48,189 shares of company stock worth $2,500,047 in the last three months. 4.76% of the stock is owned by corporate insiders.

Cathay General Bancorp Profile

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.