Cathay General Bancorp (CATY) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC reduced its stake in shares of Cathay General Bancorp (NASDAQ:CATY) by 6.6% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 68,781 shares of the bank’s stock after selling 4,834 shares during the period. Nuveen Asset Management LLC owned about 0.09% of Cathay General Bancorp worth $2,592,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Russell Investments Group Ltd. bought a new position in shares of Cathay General Bancorp during the fourth quarter valued at about $230,000. Allianz Asset Management AG bought a new position in shares of Cathay General Bancorp during the fourth quarter valued at about $231,000. Guggenheim Capital LLC boosted its position in shares of Cathay General Bancorp by 15.0% in the fourth quarter. Guggenheim Capital LLC now owns 86,303 shares of the bank’s stock valued at $3,282,000 after buying an additional 11,244 shares during the period. AQR Capital Management LLC boosted its position in shares of Cathay General Bancorp by 26.8% in the fourth quarter. AQR Capital Management LLC now owns 133,501 shares of the bank’s stock valued at $5,077,000 after buying an additional 28,232 shares during the period. Finally, Norges Bank bought a new position in shares of Cathay General Bancorp during the fourth quarter valued at about $28,608,000. Hedge funds and other institutional investors own 67.31% of the company’s stock.

Cathay General Bancorp (NASDAQ:CATY) traded down 0.08% during trading on Tuesday, reaching $37.16. The company’s stock had a trading volume of 363,432 shares. Cathay General Bancorp has a 52 week low of $28.84 and a 52 week high of $40.83. The stock has a market capitalization of $2.97 billion, a price-to-earnings ratio of 15.29 and a beta of 1.27. The firm has a 50 day moving average of $37.76 and a 200 day moving average of $37.78.

Cathay General Bancorp (NASDAQ:CATY) last announced its quarterly earnings results on Wednesday, July 19th. The bank reported $0.64 EPS for the quarter, beating the consensus estimate of $0.61 by $0.03. Cathay General Bancorp had a net margin of 35.30% and a return on equity of 10.54%. The company had revenue of $123.50 million for the quarter, compared to analyst estimates of $129.10 million. During the same quarter last year, the business earned $0.44 earnings per share. Analysts expect that Cathay General Bancorp will post $2.44 EPS for the current year.

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Several research firms have issued reports on CATY. Piper Jaffray Companies dropped their target price on Cathay General Bancorp from $43.00 to $42.00 and set an “overweight” rating on the stock in a research report on Monday, April 17th. Zacks Investment Research upgraded Cathay General Bancorp from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research report on Friday, April 21st. Keefe, Bruyette & Woods set a $37.00 target price on Cathay General Bancorp and gave the stock a “hold” rating in a research report on Monday, May 22nd. BidaskClub upgraded Cathay General Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Finally, Wedbush reiterated a “neutral” rating and set a $39.00 target price on shares of Cathay General Bancorp in a research report on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Cathay General Bancorp currently has an average rating of “Buy” and a consensus target price of $41.00.

In related news, Vice Chairman Anthony M. Tang sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $38.01, for a total transaction of $1,900,500.00. Following the transaction, the insider now owns 301,400 shares in the company, valued at $11,456,214. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 5.76% of the stock is owned by company insiders.

Cathay General Bancorp Company Profile

Cathay General Bancorp is a bank holding company. The Company holds Cathay Bank, a California state-chartered commercial bank (the Bank); seven limited partnerships investing in affordable housing investments; GBC Venture Capital, Inc, and Asia Realty Corp. The Company also owns the common stock of five statutory business trusts created for issuing capital securities.

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

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