GW&K Investment Management LLC lifted its holdings in shares of Cathay General Bancorp (NASDAQ:CATY) by 41.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,102,415 shares of the bank’s stock after purchasing an additional 320,820 shares during the quarter. GW&K Investment Management LLC owned about 1.38% of Cathay General Bancorp worth $38,292,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the company. BlackRock Inc. raised its position in shares of Cathay General Bancorp by 5.6% in the 2nd quarter. BlackRock Inc. now owns 11,010,837 shares of the bank’s stock worth $395,399,000 after buying an additional 588,789 shares during the period. Northern Trust Corp raised its position in shares of Cathay General Bancorp by 5.4% in the 2nd quarter. Northern Trust Corp now owns 2,495,947 shares of the bank’s stock worth $89,629,000 after buying an additional 127,030 shares during the period. Nuveen Asset Management LLC raised its position in shares of Cathay General Bancorp by 81.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 2,382,358 shares of the bank’s stock worth $85,550,000 after buying an additional 1,067,513 shares during the period. LSV Asset Management raised its position in shares of Cathay General Bancorp by 15.6% in the 2nd quarter. LSV Asset Management now owns 1,384,125 shares of the bank’s stock worth $49,703,000 after buying an additional 186,579 shares during the period. Finally, Amundi Pioneer Asset Management Inc. raised its position in shares of Cathay General Bancorp by 10.5% in the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 809,200 shares of the bank’s stock worth $82,980,000 after buying an additional 76,641 shares during the period. Institutional investors and hedge funds own 71.33% of the company’s stock.
Several research analysts have commented on CATY shares. Zacks Investment Research raised Cathay General Bancorp from a “strong sell” rating to a “hold” rating in a research report on Monday, October 21st. Wedbush cut their price objective on Cathay General Bancorp from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. ValuEngine raised Cathay General Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, BidaskClub raised Cathay General Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Cathay General Bancorp currently has an average rating of “Buy” and an average target price of $41.50.
NASDAQ:CATY traded down $0.08 during mid-day trading on Friday, hitting $37.10. The company had a trading volume of 146,800 shares, compared to its average volume of 410,890. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.35. The business has a fifty day simple moving average of $35.34 and a 200-day simple moving average of $35.22. Cathay General Bancorp has a 1 year low of $31.89 and a 1 year high of $40.11. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 11.11 and a beta of 1.27.
Cathay General Bancorp (NASDAQ:CATY) last issued its earnings results on Wednesday, October 16th. The bank reported $0.91 EPS for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.03. Cathay General Bancorp had a return on equity of 12.68% and a net margin of 34.23%. The company had revenue of $157.39 million during the quarter, compared to the consensus estimate of $156.07 million. During the same period in the previous year, the firm posted $0.85 earnings per share. As a group, research analysts anticipate that Cathay General Bancorp will post 3.49 earnings per share for the current year.
In other news, Vice Chairman Anthony M. Tang sold 10,000 shares of Cathay General Bancorp stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $36.59, for a total transaction of $365,900.00. Following the sale, the insider now owns 250,122 shares of the company’s stock, valued at $9,151,963.98. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Lisa L. Kim sold 3,745 shares of Cathay General Bancorp stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $34.70, for a total value of $129,951.50. Following the sale, the executive vice president now directly owns 3,288 shares in the company, valued at approximately $114,093.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,245 shares of company stock worth $551,532. Corporate insiders own 4.73% of the company’s stock.
Cathay General Bancorp Company 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.
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