Jane Street Group LLC grew its position in Cathay General Bancorp (NASDAQ:CATY) by 138.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 11,508 shares of the bank’s stock after acquiring an additional 6,689 shares during the period. Jane Street Group LLC’s holdings in Cathay General Bancorp were worth $485,000 as of its most recent filing with the SEC.
Other hedge funds have also recently made changes to their positions in the company. US Bancorp DE increased its holdings in shares of Cathay General Bancorp by 641.8% in the fourth quarter. US Bancorp DE now owns 3,175 shares of the bank’s stock valued at $134,000 after purchasing an additional 2,747 shares during the period. Meeder Asset Management Inc. increased its holdings in shares of Cathay General Bancorp by 202.8% in the fourth quarter. Meeder Asset Management Inc. now owns 3,852 shares of the bank’s stock valued at $162,000 after purchasing an additional 2,580 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Cathay General Bancorp by 51.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,598 shares of the bank’s stock valued at $194,000 after purchasing an additional 1,569 shares during the period. Allianz Asset Management GmbH acquired a new position in shares of Cathay General Bancorp in the third quarter valued at about $206,000. Finally, Narus Financial Partners LLC acquired a new position in shares of Cathay General Bancorp in the third quarter valued at about $207,000. 67.91% of the stock is currently owned by institutional investors and hedge funds.
CATY has been the topic of a number of research reports. BMO Capital Markets reissued a “hold” rating and issued a $46.00 price objective on shares of Cathay General Bancorp in a report on Wednesday, December 20th. Piper Jaffray restated a “buy” rating and issued a $51.00 target price on shares of Cathay General Bancorp in a research note on Tuesday, January 9th. Zacks Investment Research upgraded Cathay General Bancorp from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research note on Friday, January 5th. Sandler O’Neill restated a “hold” rating and issued a $45.00 target price on shares of Cathay General Bancorp in a research note on Thursday, January 4th. Finally, ValuEngine downgraded Cathay General Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. Cathay General Bancorp has an average rating of “Hold” and a consensus target price of $44.75.
Shares of CATY opened at $38.98 on Monday. Cathay General Bancorp has a 52 week low of $34.00 and a 52 week high of $45.59. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $3,161.98, a PE ratio of 15.85, a P/E/G ratio of 1.54 and a beta of 1.38.
Cathay General Bancorp (NASDAQ:CATY) last issued its earnings results on Tuesday, January 30th. The bank reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.02). Cathay General Bancorp had a return on equity of 10.46% and a net margin of 28.74%. The company had revenue of $143.51 million during the quarter, compared to analysts’ expectations of $139.43 million. During the same quarter in the previous year, the company earned $0.60 EPS. The firm’s quarterly revenue was up 21.8% compared to the same quarter last year. research analysts predict that Cathay General Bancorp will post 3.17 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, March 12th. Shareholders of record on Thursday, March 1st were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.96 dividend on an annualized basis and a yield of 2.46%. Cathay General Bancorp’s dividend payout ratio is currently 39.02%.
In other Cathay General Bancorp news, insider Dunson K. Cheng sold 20,000 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $41.92, for a total transaction of $838,400.00. Following the transaction, the insider now owns 97,124 shares in the company, valued at $4,071,438.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Peter Wu sold 33,045 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was 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 in the company, valued at approximately $575,615.36. The disclosure for this sale can be found here. Insiders have sold 56,845 shares of company stock worth $2,474,174 in the last quarter. 5.76% of the stock is currently owned by company insiders.
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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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