AlphaMark Advisors LLC Has $329,000 Holdings in Cathay General Bancorp (NASDAQ:CATY)

AlphaMark Advisors LLC lifted its holdings in shares of Cathay General Bancorp (NASDAQ:CATY) by 27.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 8,723 shares of the bank’s stock after purchasing an additional 1,891 shares during the period. AlphaMark Advisors LLC’s holdings in Cathay General Bancorp were worth $329,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Cathay General Bancorp by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 8,254,816 shares of the bank’s stock worth $367,917,000 after purchasing an additional 196,146 shares in the last quarter. Willner & Heller LLC acquired a new stake in Cathay General Bancorp in the fourth quarter valued at approximately $2,014,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Cathay General Bancorp in the 1st quarter worth about $946,000. ORG Partners LLC acquired a new position in shares of Cathay General Bancorp during the first quarter worth $982,000. Finally, First Trust Advisors LP grew its position in shares of Cathay General Bancorp by 18.4% in the 4th quarter. First Trust Advisors LP now owns 861,364 shares of the bank’s stock valued at $38,391,000 after buying an additional 133,852 shares during the last quarter. Institutional investors and hedge funds own 75.01% of the company’s stock.

Insider Activity

In other Cathay General Bancorp news, EVP Kim R. Bingham sold 6,000 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $44.89, for a total transaction of $269,340.00. Following the transaction, the executive vice president now directly owns 45,530 shares of the company’s stock, valued at approximately $2,043,841.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Cathay General Bancorp news, EVP Kim R. Bingham sold 6,000 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $44.89, for a total value of $269,340.00. Following the completion of the transaction, the executive vice president now owns 45,530 shares of the company’s stock, valued at approximately $2,043,841.70. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Vice Chairman Peter Wu sold 20,000 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $45.19, for a total transaction of $903,800.00. Following the completion of the transaction, the insider now owns 355,252 shares in the company, valued at $16,053,837.88. The disclosure for this sale can be found here. 4.76% of the stock is owned by corporate insiders.

Cathay General Bancorp Stock Performance

Shares of CATY stock traded up $1.10 during trading on Thursday, hitting $42.04. The company’s stock had a trading volume of 271,596 shares, compared to its average volume of 342,887. The business has a fifty day moving average of $39.32 and a 200-day moving average of $38.28. The company has a market cap of $3.06 billion, a PE ratio of 9.30 and a beta of 1.13. Cathay General Bancorp has a 52 week low of $32.08 and a 52 week high of $45.88. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.11.

Cathay General Bancorp (NASDAQ:CATY) last issued its earnings results on Monday, July 22nd. The bank reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.02). Cathay General Bancorp had a net margin of 22.08% and a return on equity of 11.96%. The firm had revenue of $178.53 million during the quarter, compared to the consensus estimate of $179.19 million. During the same quarter in the previous year, the firm earned $1.28 earnings per share. The business’s quarterly revenue was down 12.8% compared to the same quarter last year. As a group, research analysts anticipate that Cathay General Bancorp will post 4.01 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CATY. Wedbush increased their price target on Cathay General Bancorp from $44.00 to $50.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Truist Financial lifted their price target on shares of Cathay General Bancorp from $38.00 to $45.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Piper Sandler upped their price target on Cathay General Bancorp from $32.00 to $36.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 23rd. StockNews.com raised Cathay General Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, July 19th. Finally, Keefe, Bruyette & Woods cut their target price on Cathay General Bancorp from $46.00 to $41.00 and set a “market perform” rating on the stock in a report on Tuesday, April 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $43.00.

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.