Tower Research Capital LLC TRC Purchases Shares of 5,667 Cathay General Bancorp (CATY)
Tower Research Capital LLC TRC purchased a new position in shares of Cathay General Bancorp (NASDAQ:CATY) during the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 5,667 shares of the company’s stock, valued at approximately $160,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Institutional Trust Company N.A. raised its position in shares of Cathay General Bancorp by 0.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,247,172 shares of the company’s stock worth $63,662,000 after buying an additional 15,693 shares in the last quarter. GSA Capital Partners LLP raised its position in Cathay General Bancorp by 11.1% in the second quarter. GSA Capital Partners LLP now owns 10,800 shares of the company’s stock worth $305,000 after buying an additional 1,081 shares during the period. Aperio Group LLC raised its position in Cathay General Bancorp by 18.6% in the first quarter. Aperio Group LLC now owns 10,926 shares of the company’s stock worth $310,000 after buying an additional 1,712 shares during the period. BlackRock Inc. raised its position in Cathay General Bancorp by 8.6% in the first quarter. BlackRock Inc. now owns 30,305 shares of the company’s stock worth $859,000 after buying an additional 2,392 shares during the period. Finally, BNP Paribas Arbitrage SA raised its position in Cathay General Bancorp by 55,673.3% in the second quarter. BNP Paribas Arbitrage SA now owns 33,464 shares of the company’s stock worth $944,000 after buying an additional 33,404 shares during the period. 66.29% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Cathay General Bancorp (NASDAQ:CATY) opened at 31.13 on Friday. The firm has a market cap of $2.45 billion, a P/E ratio of 15.72 and a beta of 1.28. Cathay General Bancorp has a one year low of $25.62 and a one year high of $34.69. The stock’s 50 day moving average is $30.93 and its 200-day moving average is $29.89.
Cathay General Bancorp (NASDAQ:CATY) last issued its quarterly earnings results on Wednesday, July 20th. The company reported $0.44 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.44. Cathay General Bancorp had a net margin of 31.20% and a return on equity of 9.23%. During the same quarter last year, the business earned $0.56 EPS. Analysts anticipate that Cathay General Bancorp will post $2.19 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Thursday, September 1st were given a dividend of $0.18 per share. The ex-dividend date was Tuesday, August 30th. This represents a $0.72 annualized dividend and a yield of 2.31%. Cathay General Bancorp’s payout ratio is currently 36.18%.
CATY has been the topic of a number of research reports. Zacks Investment Research raised shares of Cathay General Bancorp from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a research note on Monday, September 12th. BMO Capital Markets reissued an “outperform” rating and issued a $32.00 target price (down from $33.00) on shares of Cathay General Bancorp in a research note on Wednesday, July 6th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Cathay General Bancorp from $31.00 to $32.00 and gave the stock a “market perform” rating in a research note on Monday, July 11th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $33.00.
In other Cathay General Bancorp news, Vice Chairman Peter Wu sold 30,000 shares of the company’s stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $31.30, for a total transaction of $939,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 6.36% of the company’s stock.
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); approximately seven limited partnerships investing in affordable housing investments, in which the Bank is the sole limited partner; GBC Venture Capital, Inc, and Asia Realty Corp.
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