Boston Advisors LLC purchased a new stake in shares of Cathay General Bancorp (NASDAQ:CATY) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 142,630 shares of the company’s stock, valued at approximately $4,022,000.
Several other large investors have also recently bought and sold shares of the stock. LS Investment Advisors LLC raised its stake in Cathay General Bancorp by 73.1% in the second quarter. LS Investment Advisors LLC now owns 4,415 shares of the company’s stock valued at $125,000 after buying an additional 1,864 shares in the last quarter. Menta Capital LLC purchased a new stake in Cathay General Bancorp during the first quarter valued at about $246,000. Aperio Group LLC raised its stake in Cathay General Bancorp by 18.6% in the first quarter. Aperio Group LLC now owns 10,926 shares of the company’s stock valued at $310,000 after buying an additional 1,712 shares in the last quarter. Bank of Montreal Can purchased a new stake in Cathay General Bancorp during the second quarter valued at about $316,000. Finally, Adams Diversified Equity Fund Inc. purchased a new stake in Cathay General Bancorp during the second quarter valued at about $330,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.
Shares of Cathay General Bancorp (NASDAQ:CATY) traded up 1.35% on Friday, hitting $30.78. The stock had a trading volume of 409,378 shares. The firm has a 50 day moving average price of $30.92 and a 200-day moving average price of $29.81. The company has a market cap of $2.43 billion, a price-to-earnings ratio of 15.55 and a beta of 1.31. Cathay General Bancorp has a 52 week low of $25.62 and a 52 week high of $34.69.
Cathay General Bancorp (NASDAQ:CATY) last released its earnings results on Wednesday, July 20th. The company reported $0.44 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.44. Cathay General Bancorp had a return on equity of 9.23% and a net margin of 31.20%. During the same period last year, the company posted $0.56 EPS. Analysts anticipate that Cathay General Bancorp will post $2.19 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Thursday, September 1st were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend was Tuesday, August 30th. Cathay General Bancorp’s dividend payout ratio (DPR) is currently 36.18%.
Several equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods upped their price target on Cathay General Bancorp from $31.00 to $32.00 and gave the company a “market perform” rating in a research report on Monday, July 11th. Zacks Investment Research lowered Cathay General Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, July 13th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $32.00 target price (down from $33.00) on shares of Cathay General Bancorp in a research report on Wednesday, July 6th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $33.00.
In other Cathay General Bancorp news, Vice Chairman Peter Wu sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $31.30, for a total value of $939,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 6.36% of the stock is owned by company insiders.
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); approximately seven limited partnerships investing in affordable housing investments, in which the Bank is the sole limited partner; GBC Venture Capital, Inc, and Asia Realty Corp.
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