Cathay General Bancorp (NASDAQ:CATY) Shares Purchased by EMC Capital Management

EMC Capital Management raised its holdings in Cathay General Bancorp (NASDAQ:CATYFree Report) by 954.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,544 shares of the bank’s stock after purchasing an additional 9,544 shares during the period. EMC Capital Management’s holdings in Cathay General Bancorp were worth $502,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Quarry LP boosted its stake in Cathay General Bancorp by 76.3% during the 2nd quarter. Quarry LP now owns 765 shares of the bank’s stock valued at $29,000 after acquiring an additional 331 shares during the last quarter. CWM LLC increased its position in shares of Cathay General Bancorp by 19.9% in the 3rd quarter. CWM LLC now owns 1,517 shares of the bank’s stock worth $65,000 after purchasing an additional 252 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Cathay General Bancorp by 24.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,531 shares of the bank’s stock valued at $66,000 after purchasing an additional 305 shares in the last quarter. KBC Group NV lifted its position in shares of Cathay General Bancorp by 68.5% during the fourth quarter. KBC Group NV now owns 3,730 shares of the bank’s stock worth $178,000 after purchasing an additional 1,517 shares during the last quarter. Finally, CIBC Asset Management Inc acquired a new position in Cathay General Bancorp in the third quarter worth about $201,000. 75.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on CATY shares. Piper Sandler cut their price objective on Cathay General Bancorp from $45.00 to $43.00 and set an “underweight” rating on the stock in a research note on Monday. Keefe, Bruyette & Woods reduced their price objective on Cathay General Bancorp from $56.00 to $55.00 and set a “market perform” rating on the stock in a research note on Thursday, January 23rd. Wedbush boosted their target price on shares of Cathay General Bancorp from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Stephens reduced their price target on shares of Cathay General Bancorp from $60.00 to $57.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $50.80.

Get Our Latest Stock Report on Cathay General Bancorp

Insider Transactions at Cathay General Bancorp

In related news, Vice Chairman Peter Wu sold 40,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $52.87, for a total value of $2,114,800.00. Following the completion of the transaction, the insider now owns 295,252 shares in the company, valued at $15,609,973.24. This represents a 11.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 4.76% of the company’s stock.

Cathay General Bancorp Price Performance

Shares of CATY opened at $47.83 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market cap of $3.41 billion, a P/E ratio of 12.06 and a beta of 1.13. Cathay General Bancorp has a 12 month low of $33.88 and a 12 month high of $55.29. The stock has a fifty day moving average price of $49.10 and a 200 day moving average price of $45.92.

Cathay General Bancorp (NASDAQ:CATYGet Free Report) last released its quarterly earnings data on Wednesday, January 22nd. The bank reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.02. Cathay General Bancorp had a net margin of 20.57% and a return on equity of 10.75%. On average, research analysts forecast that Cathay General Bancorp will post 4.16 earnings per share for the current year.

Cathay General Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Wednesday, November 27th were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.84%. Cathay General Bancorp’s dividend payout ratio (DPR) is presently 34.34%.

Cathay General Bancorp Profile

(Free Report)

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.

See Also

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

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