Thrivent Financial For Lutherans lifted its stake in Cathay General Bancorp (NASDAQ:CATY) by 14.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 367,367 shares of the bank’s stock after purchasing an additional 45,680 shares during the period. Thrivent Financial For Lutherans owned 0.45% of Cathay General Bancorp worth $15,492,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the company. Citadel Advisors LLC bought a new stake in Cathay General Bancorp during the 3rd quarter valued at about $17,058,000. APG Asset Management N.V. increased its stake in Cathay General Bancorp by 219.7% during the 4th quarter. APG Asset Management N.V. now owns 392,900 shares of the bank’s stock valued at $13,798,000 after purchasing an additional 270,000 shares in the last quarter. Chicago Equity Partners LLC increased its stake in Cathay General Bancorp by 159.1% during the 4th quarter. Chicago Equity Partners LLC now owns 242,780 shares of the bank’s stock valued at $10,238,000 after purchasing an additional 149,090 shares in the last quarter. BlackRock Inc. increased its stake in Cathay General Bancorp by 1.3% during the 4th quarter. BlackRock Inc. now owns 8,862,311 shares of the bank’s stock valued at $373,722,000 after purchasing an additional 112,337 shares in the last quarter. Finally, LSV Asset Management increased its stake in Cathay General Bancorp by 27.9% during the 4th quarter. LSV Asset Management now owns 355,700 shares of the bank’s stock valued at $14,999,000 after purchasing an additional 77,600 shares in the last quarter. 67.91% of the stock is owned by hedge funds and other institutional investors.
In other news, Vice Chairman Peter Wu sold 33,045 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $44.36, for a total value of $1,465,876.20. Following the transaction, the insider now owns 12,976 shares of the company’s stock, valued at $575,615.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Kim R. Bingham sold 3,800 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $44.71, for a total transaction of $169,898.00. Following the completion of the transaction, the executive vice president now directly owns 21,803 shares in the company, valued at approximately $974,812.13. The disclosure for this sale can be found here. Insiders sold 56,845 shares of company stock worth $2,474,174 in the last three months. Insiders own 5.76% of the company’s stock.
A number of analysts have recently commented on the stock. BMO Capital Markets lowered shares of Cathay General Bancorp from an “outperform” rating to a “market perform” rating and set a $45.00 price target for the company. in a research note on Thursday, November 30th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $44.00 price target on shares of Cathay General Bancorp in a research note on Friday, December 22nd. BidaskClub lowered shares of Cathay General Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, December 29th. Sandler O’Neill reiterated a “hold” rating and issued a $45.00 price target on shares of Cathay General Bancorp in a research note on Thursday, January 4th. Finally, Zacks Investment Research upgraded shares of Cathay General Bancorp from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research note on Friday, January 5th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $45.13.
Shares of Cathay General Bancorp stock traded down $0.35 during trading hours on Monday, reaching $42.45. 64,054 shares of the company’s stock traded hands, compared to its average volume of 338,074. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.04 and a quick ratio of 1.04. Cathay General Bancorp has a twelve month low of $34.00 and a twelve month high of $45.59. The stock has a market capitalization of $3,471.83, a P/E ratio of 19.63, a P/E/G ratio of 1.70 and a beta of 1.38.
Cathay General Bancorp (NASDAQ:CATY) last issued its quarterly earnings results on Tuesday, January 30th. The bank reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.02). Cathay General Bancorp had a net margin of 28.74% and a return on equity of 10.46%. The firm had revenue of $143.51 million for the quarter, compared to analysts’ expectations of $139.43 million. During the same period in the prior year, the firm earned $0.60 EPS. Cathay General Bancorp’s revenue for the quarter was up 21.8% compared to the same quarter last year. research analysts expect that Cathay General Bancorp will post 3.15 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, March 12th. Stockholders of record on Thursday, March 1st were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend was Wednesday, February 28th. Cathay General Bancorp’s dividend payout ratio (DPR) is presently 44.04%.
WARNING: This story was first reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this story on another domain, it was stolen and reposted in violation of United States & international copyright law. The original version of this story can be accessed at https://www.dispatchtribunal.com/2018/03/19/thrivent-financial-for-lutherans-boosts-position-in-cathay-general-bancorp-caty.html.
About Cathay General Bancorp
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.
Receive News & Ratings for Cathay General Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cathay General Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.