Edgestream Partners L.P. Boosts Stock Position in Cathay General Bancorp (NASDAQ:CATY)

Edgestream Partners L.P. boosted its holdings in Cathay General Bancorp (NASDAQ:CATY) by 37.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 76,480 shares of the bank’s stock after buying an additional 20,963 shares during the quarter. Edgestream Partners L.P. owned approximately 0.11% of Cathay General Bancorp worth $3,285,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Quarry LP boosted its stake in Cathay General Bancorp by 76.3% in the second quarter. Quarry LP now owns 765 shares of the bank’s stock valued at $29,000 after acquiring an additional 331 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of Cathay General Bancorp during the second quarter worth about $40,000. CWM LLC boosted its stake in shares of Cathay General Bancorp by 168.6% during the second quarter. CWM LLC now owns 1,265 shares of the bank’s stock worth $48,000 after buying an additional 794 shares during the period. GAMMA Investing LLC boosted its stake in shares of Cathay General Bancorp by 24.9% during the third quarter. GAMMA Investing LLC now owns 1,531 shares of the bank’s stock worth $66,000 after buying an additional 305 shares during the period. Finally, CIBC Asset Management Inc acquired a new stake in shares of Cathay General Bancorp during the third quarter worth about $201,000. Hedge funds and other institutional investors own 75.01% of the company’s stock.

Insider Transactions at Cathay General Bancorp

In other news, EVP Thomas M. Lo sold 900 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $47.00, for a total transaction of $42,300.00. Following the completion of the transaction, the executive vice president now directly owns 3,359 shares of the company’s stock, valued at $157,873. This trade represents a 21.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Vice Chairman Peter Wu sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $52.87, for a total transaction of $2,114,800.00. Following the sale, the insider now owns 295,252 shares in the company, valued at approximately $15,609,973.24. This trade represents a 11.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 48,189 shares of company stock valued at $2,500,047 in the last ninety days. Corporate insiders own 4.76% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Truist Financial increased their target price on shares of Cathay General Bancorp from $45.00 to $47.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Wedbush raised their price objective on shares of Cathay General Bancorp from $50.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Cathay General Bancorp has an average rating of “Hold” and an average target price of $44.00.

Cathay General Bancorp Trading Down 0.6 %

Shares of Cathay General Bancorp stock opened at $52.01 on Monday. Cathay General Bancorp has a 12-month low of $33.88 and a 12-month high of $55.29. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.07. The stock has a market cap of $3.70 billion, a PE ratio of 13.10 and a beta of 1.10. The company has a 50-day moving average of $47.02 and a two-hundred day moving average of $42.37.

Cathay General Bancorp (NASDAQ:CATY) last issued its earnings results on Monday, October 21st. The bank reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). Cathay General Bancorp had a net margin of 20.57% and a return on equity of 11.30%. The company had revenue of $359.86 million during the quarter, compared to analysts’ expectations of $182.70 million. During the same period last year, the business posted $1.13 earnings per share. On average, research analysts anticipate that Cathay General Bancorp will post 3.99 EPS for the current fiscal year.

Cathay General Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Wednesday, November 27th will be paid a dividend of $0.34 per share. The ex-dividend date is Wednesday, November 27th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.61%. Cathay General Bancorp’s dividend payout ratio (DPR) is 34.26%.

Cathay General Bancorp 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.