Texas Permanent School Fund raised its position in shares of Cathay General Bancorp (NASDAQ:CATY) by 1.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 54,790 shares of the bank’s stock after buying an additional 603 shares during the period. Texas Permanent School Fund’s holdings in Cathay General Bancorp were worth $2,079,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. LSV Asset Management boosted its stake in shares of Cathay General Bancorp by 102.8% in the first quarter. LSV Asset Management now owns 101,000 shares of the bank’s stock worth $3,805,000 after buying an additional 51,200 shares during the period. State Treasurer State of Michigan boosted its stake in shares of Cathay General Bancorp by 1.7% in the first quarter. State Treasurer State of Michigan now owns 30,400 shares of the bank’s stock worth $1,145,000 after buying an additional 500 shares during the period. Great West Life Assurance Co. Can boosted its stake in shares of Cathay General Bancorp by 5.6% in the first quarter. Great West Life Assurance Co. Can now owns 44,577 shares of the bank’s stock worth $1,679,000 after buying an additional 2,376 shares during the period. Adams Diversified Equity Fund Inc. boosted its stake in shares of Cathay General Bancorp by 2.8% in the first quarter. Adams Diversified Equity Fund Inc. now owns 33,200 shares of the bank’s stock worth $1,251,000 after buying an additional 900 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its stake in shares of Cathay General Bancorp by 1.6% in the first quarter. Oregon Public Employees Retirement Fund now owns 26,117 shares of the bank’s stock worth $984,000 after buying an additional 400 shares during the period. 67.31% of the stock is owned by institutional investors.

Shares of Cathay General Bancorp (NASDAQ:CATY) opened at 35.31 on Friday. Cathay General Bancorp has a 12-month low of $28.84 and a 12-month high of $40.83. The company’s 50-day moving average is $37.51 and its 200-day moving average is $37.78. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of 14.53 and a beta of 1.27.

Cathay General Bancorp (NASDAQ:CATY) last issued its earnings results on Wednesday, July 19th. The bank reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.03. The firm had revenue of $123.50 million during the quarter, compared to analyst estimates of $129.10 million. Cathay General Bancorp had a net margin of 35.30% and a return on equity of 10.54%. During the same period in the previous year, the firm earned $0.44 earnings per share. Analysts predict that Cathay General Bancorp will post $2.44 EPS for the current year.

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A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Cathay General Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, April 24th. BidaskClub raised shares of Cathay General Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $37.00 price objective on shares of Cathay General Bancorp in a research note on Tuesday, July 25th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Cathay General Bancorp in a research note on Wednesday, July 12th. Finally, Royal Bank Of Canada upped their price objective on shares of Cathay General Bancorp from $35.00 to $43.00 and gave the company an “outperform” rating in a research note on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Cathay General Bancorp presently has a consensus rating of “Buy” and an average target price of $41.00.

In other news, Vice Chairman Anthony M. Tang sold 50,000 shares of the business’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $38.01, for a total transaction of $1,900,500.00. Following the completion of the sale, the insider now directly owns 301,400 shares of the company’s stock, valued at $11,456,214. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.76% of the stock is currently owned by insiders.

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.

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Institutional Ownership by Quarter for Cathay General Bancorp (NASDAQ:CATY)

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