Mutual of America Capital Management LLC Sells 6,239 Shares of Cathay General Bancorp (NASDAQ:CATY)

Mutual of America Capital Management LLC cut its holdings in Cathay General Bancorp (NASDAQ:CATYGet Rating) by 9.0% during the 2nd quarter, Holdings Channel reports. The firm owned 62,844 shares of the bank’s stock after selling 6,239 shares during the period. Mutual of America Capital Management LLC’s holdings in Cathay General Bancorp were worth $2,460,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Parallel Advisors LLC boosted its position in Cathay General Bancorp by 91.6% during the 2nd quarter. Parallel Advisors LLC now owns 1,069 shares of the bank’s stock valued at $42,000 after acquiring an additional 511 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Cathay General Bancorp by 490.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,180 shares of the bank’s stock valued at $46,000 after acquiring an additional 980 shares in the last quarter. Covestor Ltd boosted its position in Cathay General Bancorp by 73.5% during the 1st quarter. Covestor Ltd now owns 1,157 shares of the bank’s stock valued at $52,000 after acquiring an additional 490 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in Cathay General Bancorp during the 1st quarter valued at approximately $123,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in Cathay General Bancorp during the 2nd quarter valued at approximately $226,000. 69.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on CATY shares. StockNews.com cut Cathay General Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday. DA Davidson lifted their price objective on Cathay General Bancorp to $47.00 in a research report on Thursday, October 27th. Finally, Stephens lowered their target price on shares of Cathay General Bancorp to $44.00 in a report on Tuesday, July 26th.

Cathay General Bancorp Trading Up 1.8 %

NASDAQ:CATY opened at $45.81 on Wednesday. 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 12 month low of $37.37 and a 12 month high of $48.88. The company has a market cap of $3.41 billion, a PE ratio of 10.18 and a beta of 1.16. The company has a 50 day simple moving average of $42.88 and a two-hundred day simple moving average of $41.60.

Cathay General Bancorp (NASDAQ:CATYGet Rating) last posted its earnings results on Monday, October 24th. The bank reported $1.35 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $205.41 million during the quarter, compared to the consensus estimate of $205.26 million. During the same quarter in the previous year, the firm posted $0.93 EPS. The firm’s revenue was up 27.1% on a year-over-year basis. Research analysts forecast that Cathay General Bancorp will post 4.91 earnings per share for the current year.

Cathay General Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 9th. Stockholders of record on Tuesday, November 29th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend is Monday, November 28th. Cathay General Bancorp’s payout ratio is 30.22%.

Insider Activity

In other news, Vice Chairman Peter Wu sold 2,905 shares of the business’s stock in a transaction on 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 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 legal filing with the SEC, which is available at this hyperlink. In related news, Vice Chairman Anthony M. Tang sold 5,000 shares of the company’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 transaction, the insider now owns 223,964 shares of the company’s stock, valued at approximately $10,163,486.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Peter Wu sold 2,905 shares of the company’s stock in a transaction on Wednesday, November 9th. The stock was 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 of the company’s stock, valued at approximately $17,675,232.35. The disclosure for this sale can be found here. Insiders sold a total of 12,905 shares of company stock valued at $579,670 in the last 90 days. Company insiders own 4.30% of the company’s stock.

About Cathay General Bancorp

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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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