Jane Street Group LLC Acquires 24,529 Shares of Cathay General Bancorp (NASDAQ:CATY)

Jane Street Group LLC increased its holdings in shares of Cathay General Bancorp (NASDAQ:CATY) by 37.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,419 shares of the bank’s stock after purchasing an additional 24,529 shares during the period. Jane Street Group LLC owned approximately 0.13% of Cathay General Bancorp worth $3,883,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. FMR LLC lifted its stake in Cathay General Bancorp by 332.3% in the third quarter. FMR LLC now owns 25,313 shares of the bank’s stock valued at $1,087,000 after buying an additional 19,458 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Cathay General Bancorp by 3.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,758,777 shares of the bank’s stock valued at $118,489,000 after acquiring an additional 87,847 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in Cathay General Bancorp in the 2nd quarter worth $378,000. AQR Capital Management LLC increased its holdings in Cathay General Bancorp by 39.4% during the 2nd quarter. AQR Capital Management LLC now owns 29,804 shares of the bank’s stock worth $1,124,000 after purchasing an additional 8,429 shares in the last quarter. Finally, Citigroup Inc. raised its stake in shares of Cathay General Bancorp by 9.8% in the 3rd quarter. Citigroup Inc. now owns 135,681 shares of the bank’s stock valued at $5,827,000 after purchasing an additional 12,132 shares during the period. 75.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Thomas M. Lo sold 900 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $47.00, for a total transaction of $42,300.00. Following the completion of the sale, the executive vice president now owns 3,359 shares in the company, valued at $157,873. The trade was a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Vice Chairman Peter Wu sold 40,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $52.87, for a total value of $2,114,800.00. Following the transaction, the insider now owns 295,252 shares in the company, valued at approximately $15,609,973.24. This trade represents a 11.93 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,189 shares of company stock valued at $2,500,047. 4.76% of the stock is owned by insiders.

Cathay General Bancorp Price Performance

NASDAQ:CATY opened at $47.23 on Thursday. The stock has a market capitalization of $3.36 billion, a PE ratio of 11.90 and a beta of 1.12. Cathay General Bancorp has a 1-year low of $33.88 and a 1-year high of $55.29. The firm has a fifty day simple moving average of $49.21 and a 200 day simple moving average of $43.64. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.07.

Cathay General Bancorp (NASDAQ:CATY) last released its quarterly earnings data on Monday, October 21st. The bank reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.01). Cathay General Bancorp had a return on equity of 11.30% and a net margin of 20.57%. The firm had revenue of $359.86 million for the quarter, compared to analyst estimates of $182.70 million. During the same quarter in the prior year, the firm earned $1.13 earnings per share. On average, research analysts expect that Cathay General Bancorp will post 3.99 EPS for the current fiscal year.

Cathay General Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Wednesday, November 27th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $1.36 annualized dividend and a dividend yield of 2.88%. Cathay General Bancorp’s dividend payout ratio is currently 34.26%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CATY. Wedbush upped their price objective on Cathay General Bancorp from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 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 report on Friday, September 20th. Keefe, Bruyette & Woods lifted their price objective on shares of Cathay General Bancorp from $45.00 to $56.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, Stephens upgraded shares of Cathay General Bancorp from an “equal weight” rating to an “overweight” rating in a report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $47.75.

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.