Los Angeles Capital Management & Equity Research Inc. reduced its position in Cathay General Bancorp (NASDAQ:CATY) by 7.1% during the second quarter, Holdings Channel reports. The firm owned 13,713 shares of the company’s stock after selling 1,050 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in Cathay General Bancorp were worth $387,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Commonwealth Equity Services Inc boosted its stake in Cathay General Bancorp by 0.6% in the second quarter. Commonwealth Equity Services Inc now owns 19,246 shares of the company’s stock worth $543,000 after buying an additional 112 shares in the last quarter. SG Americas Securities LLC boosted its stake in Cathay General Bancorp by 1.3% in the second quarter. SG Americas Securities LLC now owns 25,090 shares of the company’s stock worth $708,000 after buying an additional 327 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in Cathay General Bancorp by 0.4% in the first quarter. Metropolitan Life Insurance Co. NY now owns 120,236 shares of the company’s stock worth $3,406,000 after buying an additional 472 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Cathay General Bancorp by 2.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 25,212 shares of the company’s stock worth $711,000 after buying an additional 600 shares in the last quarter. Finally, Suntrust Banks Inc. boosted its stake in Cathay General Bancorp by 6.3% in the second quarter. Suntrust Banks Inc. now owns 12,641 shares of the company’s stock worth $356,000 after buying an additional 750 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.
Cathay General Bancorp (NASDAQ:CATY) traded down 2.22% during trading on Monday, reaching $30.39. 200,480 shares of the company’s stock traded hands. The firm has a 50 day moving average of $30.93 and a 200 day moving average of $29.73. The firm has a market capitalization of $2.40 billion, a PE ratio of 15.35 and a beta of 1.31. Cathay General Bancorp has a 1-year low of $25.62 and a 1-year high of $34.69.
Cathay General Bancorp (NASDAQ:CATY) last released its earnings results on Wednesday, July 20th. The company reported $0.44 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.44. Cathay General Bancorp had a net margin of 31.20% and a return on equity of 9.23%. During the same period in the previous year, the firm posted $0.56 earnings per share. Equities analysts forecast that Cathay General Bancorp will post $2.19 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Thursday, September 1st were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend was Tuesday, August 30th. Cathay General Bancorp’s dividend payout ratio (DPR) is presently 36.18%.
A number of analysts have recently commented on CATY shares. Zacks Investment Research cut shares of Cathay General Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, June 21st. BMO Capital Markets reaffirmed an “outperform” rating and set a $32.00 price objective (down previously from $33.00) on shares of Cathay General Bancorp in a research note on Wednesday, July 6th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Cathay General Bancorp from $31.00 to $32.00 and gave the company a “market perform” rating in a research note on Monday, July 11th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Cathay General Bancorp currently has a consensus rating of “Hold” and a consensus target price of $33.00.
In other news, Vice Chairman Peter Wu sold 30,000 shares of the firm’s stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $31.30, for a total value of $939,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.36% of the stock is currently owned by 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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