Dean Capital Management Has $681,000 Stock Holdings in Cathay General Bancorp $CATY

Dean Capital Management lessened its holdings in shares of Cathay General Bancorp (NASDAQ:CATY) by 65.6% during the 1st quarter, Holdings Channel.com reports. The fund owned 13,659 shares of the bank’s stock after selling 26,062 shares during the period. Dean Capital Management’s holdings in Cathay General Bancorp were worth $681,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CATY. ProShare Advisors LLC grew its stake in Cathay General Bancorp by 1.5% in the 4th quarter. ProShare Advisors LLC now owns 12,925 shares of the bank’s stock valued at $625,000 after buying an additional 196 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its position in shares of Cathay General Bancorp by 0.5% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 57,646 shares of the bank’s stock valued at $2,788,000 after purchasing an additional 301 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Cathay General Bancorp by 3.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,036 shares of the bank’s stock worth $628,000 after purchasing an additional 348 shares during the period. Illinois Municipal Retirement Fund increased its stake in shares of Cathay General Bancorp by 1.2% in the first quarter. Illinois Municipal Retirement Fund now owns 36,078 shares of the bank’s stock worth $1,799,000 after purchasing an additional 424 shares during the period. Finally, LPL Financial LLC lifted its position in shares of Cathay General Bancorp by 5.6% during the 4th quarter. LPL Financial LLC now owns 8,685 shares of the bank’s stock worth $420,000 after purchasing an additional 459 shares during the last quarter. Institutional investors own 75.01% of the company’s stock.

Insider Buying and Selling at Cathay General Bancorp

In related news, SVP May K. Chan sold 558 shares of Cathay General Bancorp stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $56.00, for a total transaction of $31,248.00. Following the completion of the transaction, the senior vice president directly owned 2,693 shares of the company’s stock, valued at $150,808. This trade represents a 17.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Vice Chairman Peter Wu sold 20,000 shares of Cathay General Bancorp stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $57.33, for a total transaction of $1,146,600.00. Following the transaction, the insider directly owned 275,252 shares of the company’s stock, valued at $15,780,197.16. This represents a 6.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 4.53% of the stock is currently owned by insiders.

Cathay General Bancorp Stock Performance

Shares of CATY opened at $62.92 on Monday. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 0.04. The stock has a market cap of $4.22 billion, a PE ratio of 12.29 and a beta of 0.86. Cathay General Bancorp has a 1 year low of $43.65 and a 1 year high of $63.91. The stock has a 50 day simple moving average of $60.05 and a 200-day simple moving average of $54.76.

Cathay General Bancorp (NASDAQ:CATY) last announced its quarterly earnings results on Wednesday, July 22nd. The bank reported $1.37 EPS for the quarter, beating the consensus estimate of $1.35 by $0.02. Cathay General Bancorp had a return on equity of 11.71% and a net margin of 24.66%.The business had revenue of $221.20 million for the quarter, compared to analyst estimates of $218.28 million. During the same quarter in the previous year, the firm earned $1.10 EPS. Cathay General Bancorp’s quarterly revenue was up 13.1% on a year-over-year basis. On average, sell-side analysts predict that Cathay General Bancorp will post 5.43 EPS for the current fiscal year.

Cathay General Bancorp declared that its board has initiated a share repurchase plan on Thursday, April 23rd that permits the company to repurchase $150,000.00 billion in shares. This repurchase authorization permits the bank to reacquire up to 4,164,630.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Cathay General Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Thursday, May 28th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.4%. Cathay General Bancorp’s dividend payout ratio (DPR) is presently 29.69%.

Analyst Upgrades and Downgrades

CATY has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cathay General Bancorp in a report on Monday, July 6th. DA Davidson increased 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. Zacks Research upgraded shares of Cathay General Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 23rd. Piper Sandler upped their target price on shares of Cathay General Bancorp from $45.00 to $47.00 and gave the company an “underweight” rating in a research note on Monday, April 27th. Finally, Stephens increased their price target on shares of Cathay General Bancorp from $56.00 to $63.00 and gave the company an “equal weight” rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $60.75.

Cathay General Bancorp Company Profile

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.