Cambria Investment Management L.P. reduced its position in Cathay General Bancorp (NASDAQ:CATY – Free Report) by 3.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 182,528 shares of the bank’s stock after selling 5,888 shares during the period. Cambria Investment Management L.P.’s holdings in Cathay General Bancorp were worth $5,876,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently made changes to their positions in the company. Signaturefd LLC raised its position in Cathay General Bancorp by 364.9% during the second quarter. Signaturefd LLC now owns 1,548 shares of the bank’s stock worth $50,000 after acquiring an additional 1,215 shares during the period. Lazard Asset Management LLC raised its position in Cathay General Bancorp by 41.4% during the fourth quarter. Lazard Asset Management LLC now owns 1,277 shares of the bank’s stock worth $52,000 after acquiring an additional 374 shares during the period. Covestor Ltd raised its position in Cathay General Bancorp by 73.5% during the first quarter. Covestor Ltd now owns 1,157 shares of the bank’s stock worth $52,000 after acquiring an additional 490 shares during the period. State of Wyoming raised its position in Cathay General Bancorp by 31.7% during the fourth quarter. State of Wyoming now owns 1,321 shares of the bank’s stock worth $54,000 after acquiring an additional 318 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new position in Cathay General Bancorp during the second quarter worth $54,000. 69.01% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities analysts have weighed in on the stock. StockNews.com cut shares of Cathay General Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, September 29th. Wedbush dropped their target price on shares of Cathay General Bancorp from $42.00 to $40.00 and set an “outperform” rating for the company in a report on Tuesday, October 24th. Piper Sandler lowered shares of Cathay General Bancorp from a “neutral” rating to an “underweight” rating and set a $31.00 target price for the company. in a report on Monday, November 6th. DA Davidson upped their target price on shares of Cathay General Bancorp from $34.00 to $41.00 and gave the stock a “neutral” rating in a report on Tuesday, July 25th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Cathay General Bancorp from $37.00 to $39.00 and gave the stock a “market perform” rating in a report on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, Cathay General Bancorp has an average rating of “Hold” and an average price target of $38.83.
Insider Transactions at Cathay General Bancorp
In other news, EVP Kim R. Bingham sold 6,000 shares of the stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $37.42, for a total transaction of $224,520.00. Following the sale, the executive vice president now owns 41,849 shares of the company’s stock, valued at $1,565,989.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.62% of the company’s stock.
Cathay General Bancorp Trading Up 0.4 %
NASDAQ CATY opened at $37.57 on Thursday. The firm’s 50-day moving average is $35.08 and its two-hundred day moving average is $34.10. Cathay General Bancorp has a 12 month low of $27.24 and a 12 month high of $46.78. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market capitalization of $2.73 billion, a P/E ratio of 7.42 and a beta of 1.15.
Cathay General Bancorp (NASDAQ:CATY – Get Free Report) last posted its earnings results on Monday, October 23rd. The bank reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.01. Cathay General Bancorp had a net margin of 30.02% and a return on equity of 14.40%. The company had revenue of $193.48 million for the quarter, compared to analysts’ expectations of $196.04 million. During the same quarter in the prior year, the company posted $1.35 earnings per share. Cathay General Bancorp’s revenue for the quarter was down 6.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Cathay General Bancorp will post 4.8 earnings per share for the current year.
Cathay General Bancorp Company Profile
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.
- Five stocks we like better than Cathay General Bancorp
- Stock Average Calculator
- Is it time to buy the dip in Walmart shares?
- REIT Stocks – Best REIT Stocks to Add to Your Portfolio Today
- Unlocking AI investment opportunities in healthcare
- What is a Non-Fungible Token (NFT)? Definition and How it Works
- New Disney investor propels stock to ranks of best S&P gainers
Receive News & Ratings for Cathay General Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cathay General Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.