Cathay General Bancorp (NASDAQ:CATY) Shares Acquired by Captrust Financial Advisors

Captrust Financial Advisors raised its stake in Cathay General Bancorp (NASDAQ:CATY) by 1.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,264 shares of the bank’s stock after purchasing an additional 399 shares during the quarter. Captrust Financial Advisors’ holdings in Cathay General Bancorp were worth $999,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its position in shares of Cathay General Bancorp by 4.4% during the second quarter. Dimensional Fund Advisors LP now owns 4,194,232 shares of the bank’s stock worth $158,206,000 after purchasing an additional 176,215 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Cathay General Bancorp by 3.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,758,777 shares of the bank’s stock worth $118,489,000 after acquiring an additional 87,847 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Cathay General Bancorp by 19.8% during the second quarter. American Century Companies Inc. now owns 1,262,970 shares of the bank’s stock valued at $47,639,000 after buying an additional 208,599 shares during the last quarter. Boston Trust Walden Corp grew its stake in shares of Cathay General Bancorp by 4.1% in the second quarter. Boston Trust Walden Corp now owns 736,727 shares of the bank’s stock worth $27,789,000 after purchasing an additional 28,968 shares in the last quarter. Finally, Stieven Capital Advisors L.P. increased its stake in Cathay General Bancorp by 39.3% during the 3rd quarter. Stieven Capital Advisors L.P. now owns 256,404 shares of the bank’s stock valued at $11,013,000 after buying an additional 72,300 shares during the period. Hedge funds and other institutional investors own 75.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CATY shares. Stephens upgraded Cathay General Bancorp from an “equal weight” rating to an “overweight” rating in a report on Monday. Wedbush lifted their target price on shares of Cathay General Bancorp from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Truist Financial raised their target price on Cathay General Bancorp from $45.00 to $47.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Cathay General Bancorp from $45.00 to $56.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $47.75.

Insider Activity at Cathay General Bancorp

In related news, EVP Thomas M. Lo sold 900 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $47.00, for a total transaction of $42,300.00. Following the completion of the transaction, the executive vice president now owns 3,359 shares in the company, valued at $157,873. This trade represents a 21.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Peter Wu sold 7,289 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $47.05, for a total transaction of $342,947.45. Following the sale, the insider now owns 347,963 shares of the company’s stock, valued at $16,371,659.15. This trade represents a 2.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,189 shares of company stock worth $2,500,047 over the last three months. Company insiders own 4.76% of the company’s stock.

Cathay General Bancorp Stock Down 1.0 %

CATY stock opened at $50.93 on Tuesday. The firm has a market cap of $3.63 billion, a PE ratio of 12.83 and a beta of 1.12. The company has a fifty day simple moving average of $48.06 and a 200 day simple moving average of $43.00. Cathay General Bancorp has a 1 year low of $33.88 and a 1 year high of $55.29. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.07.

Cathay General Bancorp (NASDAQ:CATY) last announced its earnings results on Monday, October 21st. The bank reported $0.94 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.01). The firm had revenue of $359.86 million during the quarter, compared to the consensus estimate of $182.70 million. Cathay General Bancorp had a return on equity of 11.30% and a net margin of 20.57%. During the same quarter last year, the business earned $1.13 EPS. Sell-side analysts anticipate that Cathay General Bancorp will post 3.99 EPS for the current fiscal year.

Cathay General Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Wednesday, November 27th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date was Wednesday, November 27th. Cathay General Bancorp’s dividend payout ratio (DPR) is presently 34.26%.

Cathay General Bancorp 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.