Teachers Retirement System of The State of Kentucky continued to hold its stake in Cathay General Bancorp (NASDAQ:CATY) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,800 shares of the bank’s stock at the end of the fourth quarter. Teachers Retirement System of The State of Kentucky’s holdings in Cathay General Bancorp were worth $715,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund boosted its position in shares of Cathay General Bancorp by 2.0% in the third quarter. Oregon Public Employees Retirement Fund now owns 25,717 shares of the bank’s stock worth $792,000 after buying an additional 505 shares during the last quarter. CrestPoint Capital Management LLC acquired a new position in shares of Cathay General Bancorp during the third quarter worth approximately $643,000. Smith Graham & Co. Investment Advisors LP acquired a new position in shares of Cathay General Bancorp during the third quarter worth approximately $2,867,000. Bank of Montreal Can boosted its position in shares of Cathay General Bancorp by 0.8% in the third quarter. Bank of Montreal Can now owns 11,316 shares of the bank’s stock worth $348,000 after buying an additional 87 shares during the last quarter. Finally, Commonwealth Equity Services Inc boosted its position in shares of Cathay General Bancorp by 0.6% in the third quarter. Commonwealth Equity Services Inc now owns 19,357 shares of the bank’s stock worth $596,000 after buying an additional 111 shares during the last quarter. Institutional investors and hedge funds own 65.72% of the company’s stock.
Shares of Cathay General Bancorp (NASDAQ:CATY) traded down 0.18% during midday trading on Friday, hitting $38.15. 395,174 shares of the stock were exchanged. Cathay General Bancorp has a 12 month low of $26.27 and a 12 month high of $40.83. The stock has a market cap of $3.04 billion, a P/E ratio of 17.42 and a beta of 1.19. The firm has a 50 day moving average of $37.65 and a 200-day moving average of $35.99.
Cathay General Bancorp (NASDAQ:CATY) last posted its quarterly earnings data on Wednesday, April 19th. The bank reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.01. The business earned $118.83 million during the quarter, compared to the consensus estimate of $119.30 million. Cathay General Bancorp had a return on equity of 9.94% and a net margin of 32.89%. During the same period in the prior year, the company earned $0.57 earnings per share. Equities research analysts anticipate that Cathay General Bancorp will post $2.36 EPS for the current year.
A number of equities research analysts have issued reports on the stock. Piper Jaffray Companies cut their price target on shares of Cathay General Bancorp from $43.00 to $42.00 and set an “overweight” rating on the stock in a report on Monday. Keefe, Bruyette & Woods set a $36.00 price target on shares of Cathay General Bancorp and gave the stock a “hold” rating in a report on Monday, April 3rd. Finally, Zacks Investment Research lowered shares of Cathay General Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, February 7th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Cathay General Bancorp currently has an average rating of “Hold” and an average price target of $37.00.
In other news, Director Patrick Lee sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 7th. The stock was sold at an average price of $39.17, for a total transaction of $137,095.00. Following the completion of the sale, the director now owns 3,500 shares in the company, valued at $137,095. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Dunson K. Cheng sold 61,417 shares of the stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $40.26, for a total value of $2,472,648.42. Following the completion of the transaction, the insider now owns 233,563 shares of the company’s stock, valued at approximately $9,403,246.38. The disclosure for this sale can be found here. Insiders sold 249,712 shares of company stock valued at $9,673,311 over the last three months. Corporate insiders own 6.36% of the company’s stock.
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.
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