Clark Capital Management Group Inc. grew its holdings in Cathay General Bancorp (NASDAQ:CATY) by 11.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 49,145 shares of the bank’s stock after purchasing an additional 4,908 shares during the quarter. Clark Capital Management Group Inc. owned about 0.06% of Cathay General Bancorp worth $2,072,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of CATY. Crossmark Global Holdings Inc. acquired a new position in shares of Cathay General Bancorp during the third quarter valued at $223,000. Victory Capital Management Inc. acquired a new position in shares of Cathay General Bancorp during the third quarter valued at $238,000. BNP Paribas Arbitrage SA lifted its stake in shares of Cathay General Bancorp by 8.4% during the third quarter. BNP Paribas Arbitrage SA now owns 40,851 shares of the bank’s stock valued at $1,642,000 after acquiring an additional 3,152 shares during the period. Retirement Systems of Alabama lifted its stake in shares of Cathay General Bancorp by 1.3% during the third quarter. Retirement Systems of Alabama now owns 97,986 shares of the bank’s stock valued at $3,939,000 after acquiring an additional 1,243 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Cathay General Bancorp by 0.5% during the third quarter. Bank of New York Mellon Corp now owns 1,469,247 shares of the bank’s stock valued at $59,065,000 after acquiring an additional 7,251 shares during the period. 67.90% of the stock is currently owned by institutional investors.
In other Cathay General Bancorp news, EVP Kim R. Bingham sold 3,800 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $44.71, for a total value of $169,898.00. Following the completion of the sale, the executive vice president now directly owns 21,803 shares in the company, valued at $974,812.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Dunson K. Cheng sold 20,000 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $41.92, for a total value of $838,400.00. Following the completion of the sale, the insider now owns 97,124 shares of the company’s stock, valued at $4,071,438.08. The disclosure for this sale can be found here. Insiders sold 56,845 shares of company stock worth $2,474,174 in the last three months. Insiders own 5.76% of the company’s stock.
Several brokerages have recently issued reports on CATY. ValuEngine raised Cathay General Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. BMO Capital Markets upped their price target on Cathay General Bancorp to $51.00 and gave the company a “market perform” rating in a research note on Wednesday, January 31st. BidaskClub lowered Cathay General Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $51.00 price target on shares of Cathay General Bancorp in a research note on Tuesday, January 9th. Finally, Zacks Investment Research raised Cathay General Bancorp from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a research note on Friday, January 5th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $45.13.
Cathay General Bancorp (CATY) opened at $42.80 on Friday. Cathay General Bancorp has a one year low of $34.00 and a one year high of $45.59. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $3,474.26, a PE ratio of 17.13, a price-to-earnings-growth ratio of 1.70 and a beta of 1.38.
Cathay General Bancorp (NASDAQ:CATY) last released its earnings results on Tuesday, January 30th. The bank reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.02). Cathay General Bancorp had a net margin of 28.74% and a return on equity of 10.46%. The company had revenue of $143.51 million during the quarter, compared to analyst estimates of $139.43 million. During the same period in the previous year, the company posted $0.60 EPS. The company’s quarterly revenue was up 21.8% compared to the same quarter last year. equities research analysts expect that Cathay General Bancorp will post 3.15 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, March 12th. Shareholders of record on Thursday, March 1st were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.24%. The ex-dividend date was Wednesday, February 28th. Cathay General Bancorp’s payout ratio is 44.04%.
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Cathay General Bancorp Profile
Cathay General Bancorp is a bank holding company. The Company holds Cathay Bank, a California state-chartered commercial bank (the Bank); seven limited partnerships investing in affordable housing investments; GBC Venture Capital, Inc, and Asia Realty Corp. The Company also owns the common stock of five statutory business trusts created for issuing capital securities.
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