Texas Permanent School Fund Acquires 682 Shares of Cathay General Bancorp (NASDAQ:CATY)

Texas Permanent School Fund grew its holdings in shares of Cathay General Bancorp (NASDAQ:CATYGet Rating) by 1.3% in the 2nd quarter, Holdings Channel.com reports. The fund owned 54,386 shares of the bank’s stock after purchasing an additional 682 shares during the period. Texas Permanent School Fund’s holdings in Cathay General Bancorp were worth $2,129,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. State Street Corp raised its stake in shares of Cathay General Bancorp by 9.4% during the first quarter. State Street Corp now owns 3,708,830 shares of the bank’s stock valued at $165,970,000 after acquiring an additional 317,721 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Cathay General Bancorp by 2.3% during the first quarter. Dimensional Fund Advisors LP now owns 2,906,915 shares of the bank’s stock valued at $130,087,000 after acquiring an additional 66,567 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Cathay General Bancorp by 1.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,837,798 shares of the bank’s stock valued at $82,241,000 after acquiring an additional 34,931 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Cathay General Bancorp by 6.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,663,220 shares of the bank’s stock valued at $74,430,000 after acquiring an additional 105,614 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Cathay General Bancorp by 4.4% during the first quarter. Invesco Ltd. now owns 1,083,447 shares of the bank’s stock worth $48,484,000 after buying an additional 45,467 shares during the last quarter. Institutional investors own 69.26% of the company’s stock.

Insider Buying and Selling at Cathay General Bancorp

In other news, Vice Chairman Peter Wu sold 2,905 shares of Cathay General Bancorp stock in a transaction dated Wednesday, November 9th. The shares were sold at an average price of $45.05, for a total transaction of $130,870.25. Following the completion of the transaction, the insider now directly owns 392,347 shares in the company, valued at $17,675,232.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Vice Chairman Anthony M. Tang sold 5,000 shares of Cathay General Bancorp stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $45.38, for a total transaction of $226,900.00. Following the completion of the transaction, the insider now directly owns 223,964 shares in the company, valued at $10,163,486.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Peter Wu sold 2,905 shares of Cathay General Bancorp stock in a transaction dated Wednesday, November 9th. The shares were sold at an average price of $45.05, for a total transaction of $130,870.25. Following the transaction, the insider now owns 392,347 shares of the company’s stock, valued at $17,675,232.35. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,905 shares of company stock valued at $579,670. Corporate insiders own 4.30% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. DA Davidson lifted their target price on shares of Cathay General Bancorp to $47.00 in a research note on Thursday, October 27th. StockNews.com raised shares of Cathay General Bancorp from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Stephens lowered their target price on shares of Cathay General Bancorp to $44.00 in a research note on Tuesday, July 26th.

Cathay General Bancorp Trading Down 1.5 %

CATY opened at $45.82 on Tuesday. Cathay General Bancorp has a 1-year low of $37.37 and a 1-year high of $48.88. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 0.21. The company has a market cap of $3.41 billion, a P/E ratio of 10.18 and a beta of 1.16. The company has a fifty day moving average price of $42.43 and a two-hundred day moving average price of $41.40.

Cathay General Bancorp (NASDAQ:CATYGet Rating) last posted its quarterly earnings results on Monday, October 24th. The bank reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.06. Cathay General Bancorp had a net margin of 41.20% and a return on equity of 13.93%. The firm had revenue of $205.41 million during the quarter, compared to the consensus estimate of $205.26 million. During the same period in the previous year, the firm posted $0.93 earnings per share. The business’s revenue was up 27.1% compared to the same quarter last year. Analysts predict that Cathay General Bancorp will post 4.91 EPS for the current fiscal year.

Cathay General Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Tuesday, August 30th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.97%. The ex-dividend date was Monday, August 29th. Cathay General Bancorp’s dividend payout ratio (DPR) is currently 30.22%.

Cathay General Bancorp Profile

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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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Institutional Ownership by Quarter for Cathay General Bancorp (NASDAQ:CATY)

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