Commonwealth Equity Services LLC Reduces Stock Holdings in Cathay General Bancorp (NASDAQ:CATY)

Commonwealth Equity Services LLC reduced its position in Cathay General Bancorp (NASDAQ:CATY) by 13.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,473 shares of the bank’s stock after selling 1,264 shares during the period. Commonwealth Equity Services LLC’s holdings in Cathay General Bancorp were worth $350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Cathay General Bancorp by 2.5% during the second quarter. Vanguard Group Inc. now owns 7,396,002 shares of the bank’s stock worth $291,107,000 after acquiring an additional 177,449 shares during the period. State Street Corp grew its holdings in shares of Cathay General Bancorp by 6.9% in the second quarter. State Street Corp now owns 3,727,585 shares of the bank’s stock valued at $146,718,000 after purchasing an additional 241,094 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Cathay General Bancorp by 2.3% in the second quarter. Principal Financial Group Inc. now owns 1,708,887 shares of the bank’s stock valued at $67,261,000 after purchasing an additional 38,696 shares during the period. FMR LLC boosted its stake in Cathay General Bancorp by 19.6% during the second quarter. FMR LLC now owns 1,549,096 shares of the bank’s stock worth $60,972,000 after buying an additional 253,749 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Cathay General Bancorp by 2.9% during the second quarter. Geode Capital Management LLC now owns 1,449,429 shares of the bank’s stock worth $57,049,000 after buying an additional 40,407 shares during the period. Hedge funds and other institutional investors own 68.52% of the company’s stock.

In related news, EVP Kim R. Bingham sold 3,000 shares of the firm’s stock in a transaction dated Friday, October 29th. The stock was 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 is accessible through this link. Company insiders own 4.23% of the company’s stock.

NASDAQ CATY opened at $46.91 on Friday. The stock has a market cap of $3.62 billion, a PE ratio of 12.64 and a beta of 1.37. Cathay General Bancorp has a fifty-two week low of $33.44 and a fifty-two week high of $46.96. The business has a 50 day moving average price of $43.96 and a two-hundred day moving average price of $41.23. 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 posted its quarterly earnings results 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 return on equity of 12.00% and a net margin of 41.32%. The business had revenue of $164.70 million for the quarter, compared to analyst estimates of $164.30 million. During the same period in the prior year, the company posted $0.71 EPS. The business’s revenue was up 2.6% compared to the same quarter last year. Sell-side analysts anticipate that Cathay General Bancorp will post 3.76 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 9th. Stockholders of record on Monday, November 29th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.75%. This is a positive change from Cathay General Bancorp’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Friday, November 26th. Cathay General Bancorp’s dividend payout ratio (DPR) is 36.66%.

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 on the stock in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $46.75.

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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