Cathay General Bancorp $CATY Shares Bought by Dean Capital Management

Dean Capital Management lifted its stake in shares of Cathay General Bancorp (NASDAQ:CATY) by 32.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 68,344 shares of the bank’s stock after purchasing an additional 16,563 shares during the quarter. Cathay General Bancorp comprises about 1.3% of Dean Capital Management’s investment portfolio, making the stock its 13th largest holding. Dean Capital Management owned 0.10% of Cathay General Bancorp worth $3,281,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Royal Bank of Canada raised its position in shares of Cathay General Bancorp by 25.8% during the 1st quarter. Royal Bank of Canada now owns 14,761 shares of the bank’s stock worth $634,000 after buying an additional 3,030 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Cathay General Bancorp by 20.0% during the first quarter. AQR Capital Management LLC now owns 40,456 shares of the bank’s stock valued at $1,708,000 after acquiring an additional 6,740 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Cathay General Bancorp by 1.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,395 shares of the bank’s stock valued at $1,738,000 after acquiring an additional 760 shares during the period. Caxton Associates LLP bought a new stake in Cathay General Bancorp during the first quarter worth approximately $316,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Cathay General Bancorp by 5.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 183,090 shares of the bank’s stock worth $7,878,000 after purchasing an additional 8,914 shares in the last quarter. Institutional investors and hedge funds own 75.01% of the company’s stock.

Insiders Place Their Bets

In other Cathay General Bancorp news, EVP Thomas M. Lo sold 1,000 shares of the business’s stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $50.23, for a total transaction of $50,230.00. Following the sale, the executive vice president directly owned 2,000 shares of the company’s stock, valued at $100,460. The trade was a 33.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.76% of the company’s stock.

Cathay General Bancorp Price Performance

CATY stock opened at $47.38 on Monday. Cathay General Bancorp has a one year low of $36.06 and a one year high of $54.99. The firm has a 50-day moving average of $51.08 and a two-hundred day moving average of $49.35. The firm has a market capitalization of $3.17 billion, a PE ratio of 10.44 and a beta of 0.86. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.05.

Cathay General Bancorp (NASDAQ:CATY) last released its earnings results on Thursday, January 22nd. The bank reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.13. Cathay General Bancorp had a net margin of 22.76% and a return on equity of 10.89%. The business had revenue of $222.83 million for the quarter, compared to the consensus estimate of $211.76 million. During the same period last year, the firm posted $1.12 earnings per share. On average, analysts forecast that Cathay General Bancorp will post 4.47 earnings per share for the current year.

Cathay General Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 9th. Shareholders of record on Thursday, February 26th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.2%. The ex-dividend date was Thursday, February 26th. This is a positive change from Cathay General Bancorp’s previous quarterly dividend of $0.34. Cathay General Bancorp’s dividend payout ratio is presently 33.48%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Wall Street Zen raised Cathay General Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Weiss Ratings reissued a “buy (b-)” rating on shares of Cathay General Bancorp in a research note on Monday, December 29th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $52.50.

Cathay General Bancorp Profile

Cathay General Bancorp is a bank holding company headquartered in Los Angeles, California, trading on NASDAQ under the symbol CATY. Its principal subsidiary, Cathay Bank, provides a full suite of financial services to commercial, institutional and retail clients. As a community-focused institution, the company emphasizes relationship banking and tailored solutions for businesses and individuals.

Founded in 1962 by a group of Chinese American entrepreneurs, Cathay has expanded from a single branch operation in downtown Los Angeles into one of the largest Asian-American banks in the United States.