Capstone Investment Advisors LLC Acquires Shares of 9,156 Cathay General Bancorp $CATY

Capstone Investment Advisors LLC acquired a new stake in Cathay General Bancorp (NASDAQ:CATY) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 9,156 shares of the bank’s stock, valued at approximately $568,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Global Retirement Partners LLC bought a new position in Cathay General Bancorp in the second quarter worth approximately $31,000. Danske Bank A S purchased a new position in shares of Cathay General Bancorp during the third quarter valued at $48,000. Allworth Financial LP purchased a new stake in Cathay General Bancorp in the second quarter worth about $53,000. Hantz Financial Services Inc. grew its holdings in Cathay General Bancorp by 55.8% during the 4th quarter. Hantz Financial Services Inc. now owns 1,525 shares of the bank’s stock worth $74,000 after acquiring an additional 546 shares in the last quarter. Finally, NewEdge Advisors LLC increased its position in Cathay General Bancorp by 319.7% during the 2nd quarter. NewEdge Advisors LLC now owns 1,704 shares of the bank’s stock valued at $78,000 after purchasing an additional 1,298 shares during the period. Hedge funds and other institutional investors own 75.01% of the company’s stock.

Wall Street Analyst Weigh In

CATY has been the subject of several research reports. Keefe, Bruyette & Woods upped their price target on shares of Cathay General Bancorp from $64.00 to $67.00 and gave the stock a “market perform” rating in a research report on Thursday, July 23rd. Zacks Research downgraded Cathay General Bancorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 12th. Stephens boosted their price target on Cathay General Bancorp from $56.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 23rd. DA Davidson raised their price objective on Cathay General Bancorp from $56.00 to $66.00 and gave the company a “neutral” rating in a research report on Thursday, July 23rd. Finally, Piper Sandler boosted their target price on shares of Cathay General Bancorp from $49.50 to $53.00 and gave the stock an “underweight” rating in a report on Monday, July 27th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $62.25.

Insider Buying and Selling

In related news, EVP Thomas M. Lo sold 1,600 shares of the stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $62.47, for a total transaction of $99,952.00. Following the sale, the executive vice president directly owned 2,362 shares of the company’s stock, valued at approximately $147,554.14. This represents a 40.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Richard Sun sold 1,000 shares of the firm’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $62.08, for a total transaction of $62,080.00. Following the sale, the director owned 3,200 shares in the company, valued at approximately $198,656. This represents a 23.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 30,600 shares of company stock worth $1,934,052 in the last ninety days. Corporate insiders own 4.53% of the company’s stock.

Cathay General Bancorp Price Performance

Shares of NASDAQ:CATY opened at $61.87 on Friday. The company has a market cap of $4.13 billion, a PE ratio of 12.08 and a beta of 0.86. Cathay General Bancorp has a twelve month low of $44.57 and a twelve month high of $65.25. The company’s 50 day moving average is $62.60 and its 200 day moving average is $56.87. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.04.

Cathay General Bancorp (NASDAQ:CATY) last posted its earnings results on Wednesday, July 22nd. The bank reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.02. The company had revenue of $221.20 million during the quarter, compared to the consensus estimate of $218.28 million. Cathay General Bancorp had a net margin of 24.66% and a return on equity of 11.71%. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.10 earnings per share. On average, sell-side analysts forecast that Cathay General Bancorp will post 5.48 EPS for the current year.

Cathay General Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Friday, August 28th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, August 28th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.5%. Cathay General Bancorp’s dividend payout ratio (DPR) is presently 29.69%.

About Cathay General Bancorp

Cathay General Bancorp is a bank holding company headquartered in Los Angeles, California, trading on NASDAQ under the symbol CATY. Its principal subsidiary, Cathay Bank, provides a full suite of financial services to commercial, institutional and retail clients. As a community-focused institution, the company emphasizes relationship banking and tailored solutions for businesses and individuals.

Founded in 1962 by a group of Chinese American entrepreneurs, Cathay has expanded from a single branch operation in downtown Los Angeles into one of the largest Asian-American banks in the United States.