AlphaCrest Capital Management LLC Sells 19,736 Shares of Cathay General Bancorp (NASDAQ:CATY)

AlphaCrest Capital Management LLC lowered its holdings in Cathay General Bancorp (NASDAQ:CATYGet Rating) by 43.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,129 shares of the bank’s stock after selling 19,736 shares during the quarter. AlphaCrest Capital Management LLC’s holdings in Cathay General Bancorp were worth $1,123,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC acquired a new position in Cathay General Bancorp in the fourth quarter valued at about $29,000. O Shaughnessy Asset Management LLC boosted its position in Cathay General Bancorp by 145.6% in the third quarter. O Shaughnessy Asset Management LLC now owns 759 shares of the bank’s stock valued at $31,000 after buying an additional 450 shares in the last quarter. Versor Investments LP acquired a new position in Cathay General Bancorp in the fourth quarter valued at about $211,000. Inspire Investing LLC acquired a new position in Cathay General Bancorp in the third quarter valued at about $238,000. Finally, Jefferies Group LLC acquired a new position in shares of Cathay General Bancorp during the third quarter worth approximately $240,000. Hedge funds and other institutional investors own 69.48% of the company’s stock.

Separately, StockNews.com assumed coverage on shares of Cathay General Bancorp in a research report on Thursday, March 31st. They set a “hold” rating on the stock.

Shares of CATY stock opened at $39.40 on Friday. Cathay General Bancorp has a 1 year low of $35.51 and a 1 year high of $48.88. The firm’s 50 day moving average is $43.42 and its 200-day moving average is $44.34. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 10.18 and a beta of 1.23. The company has a current ratio of 1.03, a quick ratio of 1.04 and a debt-to-equity ratio of 0.07.

Cathay General Bancorp (NASDAQ:CATYGet Rating) last announced its earnings results on Monday, April 25th. The bank reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.06. Cathay General Bancorp had a net margin of 40.53% and a return on equity of 12.26%. The company had revenue of $179.42 million for the quarter, compared to analyst estimates of $167.80 million. During the same period in the prior year, the business earned $0.92 earnings per share. Cathay General Bancorp’s quarterly revenue was up 18.2% on a year-over-year basis. On average, equities research analysts forecast that Cathay General Bancorp will post 4.41 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 7th. Investors of record on Friday, February 25th were issued a $0.34 dividend. The ex-dividend date was Thursday, February 24th. This represents a $1.36 annualized dividend and a yield of 3.45%. Cathay General Bancorp’s dividend payout ratio is currently 35.14%.

About Cathay General Bancorp (Get Rating)

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.

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Institutional Ownership by Quarter for Cathay General Bancorp (NASDAQ:CATY)

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