5,742 Shares in Cathay General Bancorp (NASDAQ:CATY) Acquired by Inspire Investing LLC

Inspire Investing LLC acquired a new position in shares of Cathay General Bancorp (NASDAQ:CATY) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 5,742 shares of the bank’s stock, valued at approximately $238,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Dark Forest Capital Management LP purchased a new stake in Cathay General Bancorp in the 2nd quarter worth approximately $32,000. Fieldpoint Private Securities LLC grew its stake in Cathay General Bancorp by 14.7% in the 2nd quarter. Fieldpoint Private Securities LLC now owns 2,168 shares of the bank’s stock worth $86,000 after acquiring an additional 278 shares during the period. Berman Capital Advisors LLC grew its stake in Cathay General Bancorp by 23.1% in the 2nd quarter. Berman Capital Advisors LLC now owns 2,444 shares of the bank’s stock worth $96,000 after acquiring an additional 459 shares during the period. Covington Capital Management grew its stake in Cathay General Bancorp by 18.7% in the 2nd quarter. Covington Capital Management now owns 2,650 shares of the bank’s stock worth $104,000 after acquiring an additional 418 shares during the period. Finally, Meeder Asset Management Inc. grew its stake in Cathay General Bancorp by 780.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 3,585 shares of the bank’s stock worth $148,000 after acquiring an additional 3,178 shares during the period. 68.52% of the stock is owned by hedge funds and other institutional investors.

In other news, EVP Kim R. Bingham sold 3,000 shares of the business’s stock in a transaction on Friday, October 29th. The shares were sold at an average price of $42.68, for a total transaction of $128,040.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 4.23% of the stock is owned by insiders.

Separately, Zacks Investment Research raised shares of Cathay General Bancorp from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research note on Tuesday. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Cathay General Bancorp has an average rating of “Hold” and an average price target of $46.75.

Shares of NASDAQ CATY opened at $46.91 on Friday. Cathay General Bancorp has a 52-week low of $33.44 and a 52-week high of $46.96. The firm has a fifty day moving average of $43.96 and a 200-day moving average of $41.23. The stock has a market capitalization of $3.62 billion, a PE ratio of 12.64 and a beta of 1.37. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.07.

Cathay General Bancorp (NASDAQ:CATY) last announced its quarterly earnings data on Sunday, October 24th. The bank reported $0.93 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.02. Cathay General Bancorp had a net margin of 41.32% and a return on equity of 12.00%. The company had revenue of $164.70 million during the quarter, compared to analysts’ expectations of $164.30 million. During the same period in the previous year, the company earned $0.71 EPS. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. Equities research analysts expect that Cathay General Bancorp will post 3.76 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 9th. Stockholders of record on Monday, November 29th were paid a dividend of $0.44 per share. The ex-dividend date was Friday, November 26th. This is a boost from Cathay General Bancorp’s previous quarterly dividend of $0.31. This represents a $1.76 annualized dividend and a dividend yield of 3.75%. Cathay General Bancorp’s payout ratio is currently 36.66%.

Cathay General Bancorp Profile

Cathay General Bancorp is a holding company, which engages in the provision of financial services. It offers commercial mortgage loans, commercial loans, small business administration loans, residential mortgage loans, real estate construction loans, home equity lines of credit, and installment loans to individuals for automobile, household, and other consumer expenditures.

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Institutional Ownership by Quarter for Cathay General Bancorp (NASDAQ:CATY)

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