Schwab Charles Investment Management Inc. lifted its holdings in shares of Cathay General Bancorp (NASDAQ:CATY) by 9.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 473,317 shares of the bank’s stock after purchasing an additional 40,050 shares during the period. Schwab Charles Investment Management Inc. owned 0.59% of Cathay General Bancorp worth $19,028,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Cathay General Bancorp by 9.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,029 shares of the bank’s stock valued at $115,000 after purchasing an additional 252 shares in the last quarter. Flinton Capital Management LLC boosted its holdings 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 worth $136,000 after acquiring an additional 1,424 shares in the last quarter. Riverhead Capital Management LLC boosted its holdings 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 worth $149,000 after acquiring an additional 1,524 shares in the last quarter. Crossmark Global Holdings Inc. bought a new position in Cathay General Bancorp in the third quarter worth approximately $223,000. Finally, Shelton Capital Management bought a new position in Cathay General Bancorp in the second quarter worth approximately $215,000. Institutional investors own 67.47% of the company’s stock.
Shares of Cathay General Bancorp (NASDAQ:CATY) traded up $0.81 during trading on Thursday, hitting $44.32. The stock had a trading volume of 299,891 shares, compared to its average volume of 354,849. The stock has a market capitalization of $3,520.00, a P/E ratio of 18.02, a PEG ratio of 1.92 and a beta of 1.35. Cathay General Bancorp has a 12-month low of $34.00 and a 12-month high of $45.54. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.37.
Cathay General Bancorp (NASDAQ:CATY) last issued its quarterly earnings data on Wednesday, October 25th. The bank reported $0.61 EPS for the quarter, topping the consensus estimate of $0.60 by $0.01. The firm had revenue of $146.20 million during the quarter, compared to the consensus estimate of $135.27 million. Cathay General Bancorp had a return on equity of 10.60% and a net margin of 33.87%. The company’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.58 earnings per share. equities analysts expect that Cathay General Bancorp will post 2.49 EPS for the current fiscal year.
Several research analysts have issued reports on CATY shares. Zacks Investment Research upgraded Cathay General Bancorp from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a report on Monday, October 30th. Piper Jaffray Companies reiterated a “buy” rating and issued a $43.00 price target on shares of Cathay General Bancorp in a report on Friday, October 6th. BMO Capital Markets reiterated a “buy” rating and issued a $44.00 price target on shares of Cathay General Bancorp in a report on Thursday, October 5th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $44.00 price target on shares of Cathay General Bancorp in a report on Friday, December 22nd. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Cathay General Bancorp presently has an average rating of “Hold” and a consensus target price of $44.50.
In related news, COO Irwin Wong sold 6,059 shares of the stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $42.00, for a total transaction of $254,478.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Dunson K. Cheng sold 50,000 shares of the stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $42.45, for a total value of $2,122,500.00. Following the sale, the insider now directly owns 119,591 shares of the company’s stock, valued at $5,076,637.95. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,059 shares of company stock valued at $2,807,978. Company insiders own 5.76% of the company’s stock.
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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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