WINTON GROUP Ltd Purchases New Holdings in Cathay General Bancorp (NASDAQ:CATY)

WINTON GROUP Ltd acquired a new stake in Cathay General Bancorp (NASDAQ:CATYGet Rating) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 7,569 shares of the bank’s stock, valued at approximately $296,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. M&T Bank Corp raised its stake in Cathay General Bancorp by 1.1% in the first quarter. M&T Bank Corp now owns 22,544 shares of the bank’s stock valued at $1,010,000 after buying an additional 255 shares during the period. Willner & Heller LLC raised its stake in Cathay General Bancorp by 0.8% in the second quarter. Willner & Heller LLC now owns 45,533 shares of the bank’s stock valued at $1,783,000 after buying an additional 348 shares during the period. Victory Capital Management Inc. raised its stake in Cathay General Bancorp by 0.6% in the second quarter. Victory Capital Management Inc. now owns 60,244 shares of the bank’s stock valued at $2,359,000 after buying an additional 374 shares during the period. Strs Ohio raised its stake in Cathay General Bancorp by 6.8% in the second quarter. Strs Ohio now owns 6,300 shares of the bank’s stock valued at $246,000 after buying an additional 400 shares during the period. Finally, Crossmark Global Holdings Inc. raised its stake in Cathay General Bancorp by 7.3% in the first quarter. Crossmark Global Holdings Inc. now owns 6,170 shares of the bank’s stock valued at $276,000 after buying an additional 420 shares during the period. Institutional investors own 69.26% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on CATY shares. Stephens dropped their price objective on Cathay General Bancorp to $44.00 in a research note on Tuesday, July 26th. DA Davidson increased their target price on Cathay General Bancorp to $47.00 in a research note on Thursday, October 27th. Finally, StockNews.com upgraded Cathay General Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, November 11th.

Insider Buying and Selling

In related news, Vice Chairman Anthony M. Tang sold 5,000 shares of the stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $45.38, for a total transaction of $226,900.00. Following the sale, the insider now owns 223,964 shares of the company’s stock, valued at $10,163,486.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Cathay General Bancorp news, Vice Chairman Peter Wu sold 2,905 shares of the firm’s stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $45.05, for a total value of $130,870.25. Following the sale, the insider now owns 392,347 shares of the company’s stock, valued at approximately $17,675,232.35. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Vice Chairman Anthony M. Tang sold 5,000 shares of the firm’s stock in a transaction on Monday, October 31st. The shares were sold at an average price of $45.38, for a total value of $226,900.00. Following the completion of the sale, the insider now directly owns 223,964 shares in the company, valued at approximately $10,163,486.32. The disclosure for this sale can be found here. Insiders have sold 12,905 shares of company stock valued at $579,670 over the last 90 days. 4.30% of the stock is owned by corporate insiders.

Cathay General Bancorp Price Performance

Shares of NASDAQ CATY opened at $45.19 on Monday. The firm has a market cap of $3.36 billion, a P/E ratio of 10.04 and a beta of 1.16. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.21. Cathay General Bancorp has a 1-year low of $37.37 and a 1-year high of $48.88. The business’s 50 day moving average is $42.74 and its 200-day moving average is $41.53.

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

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.

Further Reading

Want to see what other hedge funds are holding CATY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cathay General Bancorp (NASDAQ:CATYGet Rating).

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

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