Teachers Advisors LLC Has $28.31 Million Holdings in Cathay General Bancorp (CATY)
Teachers Advisors LLC grew its holdings in Cathay General Bancorp (NASDAQ:CATY) by 8.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 745,888 shares of the bank’s stock after purchasing an additional 55,533 shares during the quarter. Teachers Advisors LLC owned about 0.93% of Cathay General Bancorp worth $28,306,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of the business. BlackRock Inc. boosted its stake in Cathay General Bancorp by 17,138.1% in the first quarter. BlackRock Inc. now owns 7,956,239 shares of the bank’s stock worth $299,791,000 after purchasing an additional 7,910,084 shares in the last quarter. Vanguard Group Inc. boosted its stake in Cathay General Bancorp by 2.7% in the first quarter. Vanguard Group Inc. now owns 6,978,981 shares of the bank’s stock worth $262,968,000 after purchasing an additional 182,443 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Cathay General Bancorp by 2.6% in the first quarter. Dimensional Fund Advisors LP now owns 4,149,136 shares of the bank’s stock worth $156,340,000 after purchasing an additional 103,891 shares in the last quarter. State Street Corp boosted its stake in Cathay General Bancorp by 7.4% in the first quarter. State Street Corp now owns 3,583,537 shares of the bank’s stock worth $135,026,000 after purchasing an additional 247,885 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Cathay General Bancorp by 4.3% in the first quarter. Bank of New York Mellon Corp now owns 1,464,265 shares of the bank’s stock worth $55,174,000 after purchasing an additional 60,369 shares in the last quarter. 67.78% of the stock is currently owned by institutional investors.
A number of research firms have commented on CATY. BidaskClub lowered Cathay General Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Piper Jaffray Companies reissued a “buy” rating and issued a $43.00 price objective on shares of Cathay General Bancorp in a research note on Friday, September 1st. Zacks Investment Research lowered Cathay General Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. SunTrust Banks, Inc. began coverage on Cathay General Bancorp in a research note on Friday, August 18th. They issued a “hold” rating and a $39.00 price objective on the stock. Finally, Wedbush reissued a “neutral” rating and issued a $39.00 price objective on shares of Cathay General Bancorp in a research note on Tuesday, June 27th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $40.33.
Cathay General Bancorp (NASDAQ CATY) opened at 37.86 on Thursday. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of 15.58 and a beta of 1.29. The firm has a 50-day moving average price of $35.96 and a 200-day moving average price of $37.26. Cathay General Bancorp has a 1-year low of $28.84 and a 1-year high of $40.83.
Cathay General Bancorp (NASDAQ:CATY) last issued its quarterly earnings results on Wednesday, July 19th. The bank reported $0.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.03. Cathay General Bancorp had a return on equity of 10.54% and a net margin of 35.30%. The company had revenue of $123.50 million for the quarter, compared to analyst estimates of $129.10 million. During the same quarter last year, the company posted $0.44 EPS. On average, analysts expect that Cathay General Bancorp will post $2.44 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Friday, September 1st were paid a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.84 annualized dividend and a dividend yield of 2.22%. Cathay General Bancorp’s payout ratio is 34.57%.
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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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