Cathay General Bancorp (NASDAQ:CATY) Shares Sold by GSA Capital Partners LLP

GSA Capital Partners LLP decreased its position in Cathay General Bancorp (NASDAQ:CATY) by 50.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 11,176 shares of the bank’s stock after selling 11,353 shares during the period. GSA Capital Partners LLP’s holdings in Cathay General Bancorp were worth $480,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Cathay General Bancorp in the first quarter valued at $946,000. SG Americas Securities LLC lifted its position in Cathay General Bancorp by 504.2% during the second quarter. SG Americas Securities LLC now owns 24,568 shares of the bank’s stock worth $927,000 after buying an additional 20,502 shares during the period. State Board of Administration of Florida Retirement System lifted its position in Cathay General Bancorp by 37.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 73,644 shares of the bank’s stock worth $2,542,000 after buying an additional 20,253 shares during the period. Sanctuary Advisors LLC purchased a new position in Cathay General Bancorp during the second quarter worth about $378,000. Finally, AQR Capital Management LLC lifted its position in Cathay General Bancorp by 39.4% during the second quarter. AQR Capital Management LLC now owns 29,804 shares of the bank’s stock worth $1,124,000 after buying an additional 8,429 shares during the period. Institutional investors and hedge funds own 75.01% of the company’s stock.

Insider Buying and Selling at Cathay General Bancorp

In other news, Vice Chairman Peter Wu sold 40,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $52.87, for a total transaction of $2,114,800.00. Following the completion of the sale, the insider now owns 295,252 shares in the company, valued at approximately $15,609,973.24. This represents a 11.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Dunson K. Cheng sold 12,401 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $44.79, for a total value of $555,440.79. Following the transaction, the chairman now directly owns 149,566 shares of the company’s stock, valued at $6,699,061.14. This represents a 7.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,590 shares of company stock worth $3,055,488 over the last 90 days. 4.76% of the stock is currently owned by corporate insiders.

Cathay General Bancorp Stock Performance

Shares of NASDAQ CATY opened at $50.97 on Wednesday. The stock has a market capitalization of $3.63 billion, a price-to-earnings ratio of 12.84 and a beta of 1.10. The stock’s fifty day simple moving average is $45.48 and its 200 day simple moving average is $41.56. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.07. Cathay General Bancorp has a 52-week low of $33.88 and a 52-week high of $54.07.

Cathay General Bancorp (NASDAQ:CATY) last released its quarterly earnings data on Monday, October 21st. The bank reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). Cathay General Bancorp had a net margin of 20.57% and a return on equity of 11.30%. The firm had revenue of $359.86 million for the quarter, compared to analyst estimates of $182.70 million. During the same period in the previous year, the business posted $1.13 EPS. As a group, sell-side analysts forecast that Cathay General Bancorp will post 4 earnings per share for the current fiscal year.

Cathay General Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Wednesday, November 27th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.36 dividend on an annualized basis and a yield of 2.67%. Cathay General Bancorp’s dividend payout ratio (DPR) is currently 34.26%.

Analyst Ratings Changes

Several brokerages have commented on CATY. Piper Sandler upped their price target on Cathay General Bancorp from $32.00 to $36.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 23rd. Truist Financial upped their price target on Cathay General Bancorp from $45.00 to $47.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Finally, Wedbush upped their price target on Cathay General Bancorp from $50.00 to $52.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Cathay General Bancorp currently has a consensus rating of “Hold” and a consensus price target of $44.00.

Cathay General Bancorp 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.