Cathay General Bancorp (NASDAQ:CATY) Shares Sold by Public Sector Pension Investment Board

Public Sector Pension Investment Board decreased its position in shares of Cathay General Bancorp (NASDAQ:CATY) by 4.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 153,141 shares of the bank’s stock after selling 7,100 shares during the quarter. Public Sector Pension Investment Board’s holdings in Cathay General Bancorp were worth $6,577,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of CATY. Quarry LP lifted its position in Cathay General Bancorp by 76.3% in the 2nd quarter. Quarry LP now owns 765 shares of the bank’s stock valued at $29,000 after purchasing an additional 331 shares during the last quarter. Quest Partners LLC bought a new stake in shares of Cathay General Bancorp during the second quarter valued at approximately $40,000. CWM LLC boosted its position in shares of Cathay General Bancorp by 168.6% during the second quarter. CWM LLC now owns 1,265 shares of the bank’s stock worth $48,000 after buying an additional 794 shares during the period. GAMMA Investing LLC grew its holdings in Cathay General Bancorp by 24.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,531 shares of the bank’s stock worth $66,000 after buying an additional 305 shares in the last quarter. Finally, CIBC Asset Management Inc acquired a new stake in Cathay General Bancorp in the 3rd quarter valued at approximately $201,000. Institutional investors own 75.01% of the company’s stock.

Insider Buying and Selling

In other Cathay General Bancorp news, EVP Thomas M. Lo sold 900 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $47.00, for a total transaction of $42,300.00. Following the completion of the sale, the executive vice president now directly owns 3,359 shares of the company’s stock, valued at approximately $157,873. This represents a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Peter Wu sold 7,289 shares of Cathay General Bancorp stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $47.05, for a total transaction of $342,947.45. Following the completion of the transaction, the insider now directly owns 347,963 shares in the company, valued at approximately $16,371,659.15. This trade represents a 2.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,189 shares of company stock worth $2,500,047. Corporate insiders own 4.76% of the company’s stock.

Cathay General Bancorp Stock Performance

Shares of NASDAQ CATY opened at $52.01 on Friday. Cathay General Bancorp has a 1 year low of $33.88 and a 1 year high of $55.29. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a fifty day moving average price of $47.02 and a two-hundred day moving average price of $42.34. The firm has a market cap of $3.70 billion, a P/E ratio of 13.10 and a beta of 1.10.

Cathay General Bancorp (NASDAQ:CATY) last released its earnings results on Monday, October 21st. The bank reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). Cathay General Bancorp had a return on equity of 11.30% and a net margin of 20.57%. The firm had revenue of $359.86 million for the quarter, compared to analyst estimates of $182.70 million. During the same period in the previous year, the firm earned $1.13 earnings per share. Research analysts forecast that Cathay General Bancorp will post 3.99 EPS for the current fiscal year.

Cathay General Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Wednesday, November 27th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 2.61%. The ex-dividend date is Wednesday, November 27th. Cathay General Bancorp’s dividend payout ratio is presently 34.26%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CATY shares. Truist Financial boosted their price target on Cathay General Bancorp from $45.00 to $47.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. Wedbush lifted their price objective on shares of Cathay General Bancorp from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Cathay General Bancorp presently has a consensus rating of “Hold” and a consensus target price of $44.00.

Cathay General Bancorp Profile

Cathay General Bancorp operates as the holding company for Cathay Bank that offers various commercial banking products and services to individuals, professionals, and small to medium-sized businesses in the United States. The company offers various deposit products, including passbook accounts, checking accounts, money market deposit accounts, certificates of deposit, individual retirement accounts, and public funds deposits.