Sciencast Management LP bought a new stake in Cathay General Bancorp (NASDAQ:CATY) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 15,100 shares of the bank’s stock, valued at approximately $573,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Cathay General Bancorp by 9.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,029 shares of the bank’s stock worth $115,000 after buying an additional 252 shares in the last quarter. Flinton Capital Management LLC raised its stake in Cathay General Bancorp by 65.9% in the second quarter. Flinton Capital Management LLC now owns 3,584 shares of the bank’s stock valued at $136,000 after purchasing an additional 1,424 shares in the last quarter. Riverhead Capital Management LLC raised its stake in Cathay General Bancorp by 63.5% in the second quarter. Riverhead Capital Management LLC now owns 3,924 shares of the bank’s stock valued at $149,000 after purchasing an additional 1,524 shares in the last quarter. Oakbrook Investments LLC acquired a new position in Cathay General Bancorp in the second quarter valued at about $211,000. Finally, Shelton Capital Management acquired a new position in Cathay General Bancorp in the second quarter valued at about $215,000. 67.82% of the stock is owned by institutional investors.
A number of research analysts have issued reports on the company. BidaskClub cut Cathay General Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Piper Jaffray Companies reissued a “buy” rating and issued a $43.00 price target on shares of Cathay General Bancorp in a research note on Friday, September 1st. Zacks Investment Research raised Cathay General Bancorp from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research note on Monday, September 18th. SunTrust Banks, Inc. started coverage on Cathay General Bancorp in a research note on Friday, August 18th. They issued a “hold” rating and a $39.00 price target on the stock. Finally, BMO Capital Markets reissued a “buy” rating and issued a $44.00 price target on shares of Cathay General Bancorp in a research note on Thursday, October 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $41.57.
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Shares of Cathay General Bancorp (CATY) traded up 0.15% on Tuesday, reaching $40.73. The company’s stock had a trading volume of 46,249 shares. Cathay General Bancorp has a 52-week low of $28.84 and a 52-week high of $41.11. The stock has a 50-day moving average of $37.91 and a 200 day moving average of $37.49. The company has a market cap of $3.29 billion, a price-to-earnings ratio of 16.76 and a beta of 1.30.
Cathay General Bancorp (NASDAQ:CATY) last posted its earnings results on Wednesday, July 19th. The bank reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.03. Cathay General Bancorp had a return on equity of 10.54% and a net margin of 35.30%. The firm had revenue of $123.50 million for the quarter, compared to analysts’ expectations of $129.10 million. During the same period last year, the firm earned $0.44 EPS. On average, equities research analysts forecast that Cathay General Bancorp will post $2.45 earnings per share for the current year.
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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