Legal & General Group Plc lifted its stake in Cathay General Bancorp (NASDAQ:CATY) by 6.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 79,832 shares of the bank’s stock after purchasing an additional 4,792 shares during the quarter. Legal & General Group Plc owned about 0.10% of Cathay General Bancorp worth $2,677,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the stock. Municipal Employees Retirement System of Michigan purchased a new position in Cathay General Bancorp in the fourth quarter valued at $615,000. Metropolitan Life Insurance Co. NY boosted its holdings in Cathay General Bancorp by 75.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 44,726 shares of the bank’s stock valued at $1,500,000 after purchasing an additional 19,267 shares during the period. Squarepoint Ops LLC purchased a new position in Cathay General Bancorp in the fourth quarter valued at $308,000. Principal Financial Group Inc. boosted its holdings in Cathay General Bancorp by 6.1% in the fourth quarter. Principal Financial Group Inc. now owns 1,186,178 shares of the bank’s stock valued at $39,773,000 after purchasing an additional 68,310 shares during the period. Finally, Stone Ridge Asset Management LLC purchased a new position in Cathay General Bancorp in the fourth quarter valued at $235,000. 72.58% of the stock is owned by hedge funds and other institutional investors.
CATY has been the subject of a number of recent research reports. BidaskClub upgraded Cathay General Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, December 25th. Zacks Investment Research lowered Cathay General Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, January 17th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. Cathay General Bancorp presently has a consensus rating of “Hold” and a consensus target price of $46.63.
NASDAQ:CATY opened at $36.22 on Wednesday. The firm has a market capitalization of $2.85 billion, a P/E ratio of 10.84, a P/E/G ratio of 1.27 and a beta of 1.25. Cathay General Bancorp has a 12-month low of $31.94 and a 12-month high of $44.05. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.35.
Cathay General Bancorp (NASDAQ:CATY) last released its earnings results on Wednesday, January 23rd. The bank reported $0.80 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.80. The firm had revenue of $155.88 million during the quarter, compared to analyst estimates of $155.75 million. Cathay General Bancorp had a return on equity of 13.18% and a net margin of 37.84%. During the same period last year, the business posted $0.61 earnings per share. Equities research analysts predict that Cathay General Bancorp will post 3.48 earnings per share for the current year.
In other Cathay General Bancorp news, EVP Kim R. Bingham sold 4,200 shares of Cathay General Bancorp stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $37.92, for a total transaction of $159,264.00. Following the completion of the sale, the executive vice president now directly owns 28,263 shares of the company’s stock, valued at approximately $1,071,732.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Anthony M. Tang sold 10,000 shares of Cathay General Bancorp stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $39.76, for a total value of $397,600.00. Following the sale, the insider now directly owns 258,006 shares of the company’s stock, valued at $10,258,318.56. The disclosure for this sale can be found here. Insiders have sold a total of 15,100 shares of company stock valued at $590,713 over the last ninety days. 4.90% of the stock is owned by company insiders.
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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.
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