Shell Asset Management Co. continued to hold its stake in shares of Cathay General Bancorp (NASDAQ:CATY) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,857 shares of the bank’s stock at the end of the second quarter. Shell Asset Management Co.’s holdings in Cathay General Bancorp were worth $981,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the company. Oakbrook Investments LLC bought a new stake in shares of Cathay General Bancorp during the second quarter worth about $211,000. First Citizens Bank & Trust Co. bought a new stake in shares of Cathay General Bancorp during the second quarter worth about $218,000. Oxford Asset Management bought a new stake in shares of Cathay General Bancorp during the first quarter worth about $224,000. LS Investment Advisors LLC raised its stake in shares of Cathay General Bancorp by 19.0% in the second quarter. LS Investment Advisors LLC now owns 5,935 shares of the bank’s stock worth $225,000 after buying an additional 946 shares during the period. Finally, Russell Investments Group Ltd. bought a new stake in shares of Cathay General Bancorp during the fourth quarter worth about $230,000. Institutional investors and hedge funds own 66.98% of the company’s stock.
Cathay General Bancorp (NASDAQ CATY) traded up 0.26% during trading on Friday, reaching $35.06. 408,578 shares of the company’s stock were exchanged. Cathay General Bancorp has a 52-week low of $28.84 and a 52-week high of $40.83. The stock’s 50-day moving average price is $37.28 and its 200-day moving average price is $37.73. The company has a market capitalization of $2.83 billion, a price-to-earnings ratio of 14.43 and a beta of 1.27.
Cathay General Bancorp (NASDAQ:CATY) last issued its earnings results on Wednesday, July 19th. The bank reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.03. The business had revenue of $123.50 million during the quarter, compared to analyst estimates of $129.10 million. Cathay General Bancorp had a return on equity of 10.54% and a net margin of 35.30%. During the same period in the prior year, the company posted $0.44 earnings per share. Equities analysts expect that Cathay General Bancorp will post $2.44 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Friday, September 1st will be paid a dividend of $0.21 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.84 annualized dividend and a yield of 2.40%. Cathay General Bancorp’s dividend payout ratio is currently 34.57%.
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A number of equities analysts have commented on CATY shares. Zacks Investment Research raised shares of Cathay General Bancorp from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a report on Friday, April 21st. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Cathay General Bancorp in a report on Wednesday, July 12th. BidaskClub raised shares of Cathay General Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Keefe, Bruyette & Woods set a $37.00 price objective on shares of Cathay General Bancorp and gave the stock a “hold” rating in a report on Monday, May 22nd. Finally, SunTrust Banks, Inc. started coverage on shares of Cathay General Bancorp in a report on Friday. They issued a “hold” rating and a $39.00 price objective for the company. One analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $40.67.
In other Cathay General Bancorp news, Vice Chairman Anthony M. Tang sold 50,000 shares of the stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $38.01, for a total transaction of $1,900,500.00. Following the completion of the transaction, the insider now directly owns 301,400 shares in the company, valued at $11,456,214. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.76% of the company’s stock.
About Cathay General Bancorp
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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