Los Angeles Capital Management & Equity Research Inc. Has $734,000 Holdings in Cathay General Bancorp (CATY)
Los Angeles Capital Management & Equity Research Inc. raised its position in shares of Cathay General Bancorp (NASDAQ:CATY) by 0.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,343 shares of the bank’s stock after buying an additional 100 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in Cathay General Bancorp were worth $734,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Karp Capital Management Corp purchased a new stake in Cathay General Bancorp during the 1st quarter valued at $526,000. Prudential Financial Inc. boosted its position in Cathay General Bancorp by 23.1% during the 2nd quarter. Prudential Financial Inc. now owns 1,185,515 shares of the bank’s stock valued at $44,990,000 after buying an additional 222,106 shares during the period. Great West Life Assurance Co. Can boosted its position in Cathay General Bancorp by 0.8% during the 2nd quarter. Great West Life Assurance Co. Can now owns 44,923 shares of the bank’s stock valued at $1,704,000 after buying an additional 346 shares during the period. ClariVest Asset Management LLC boosted its position in Cathay General Bancorp by 160.6% during the 1st quarter. ClariVest Asset Management LLC now owns 159,500 shares of the bank’s stock valued at $6,010,000 after buying an additional 98,300 shares during the period. Finally, Mason Street Advisors LLC boosted its position in Cathay General Bancorp by 2.2% during the 1st quarter. Mason Street Advisors LLC now owns 35,357 shares of the bank’s stock valued at $1,332,000 after buying an additional 747 shares during the period. 67.78% of the stock is owned by institutional investors and hedge funds.
Shares of Cathay General Bancorp (CATY) opened at 38.00 on Friday. The stock has a 50 day moving average of $35.96 and a 200 day moving average of $37.26. The stock has a market capitalization of $3.07 billion, a PE ratio of 15.64 and a beta of 1.29. Cathay General Bancorp has a 52-week low of $28.84 and a 52-week high of $40.83.
Cathay General Bancorp (NASDAQ:CATY) last posted its quarterly earnings results on Wednesday, July 19th. The bank reported $0.64 EPS for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.03. The firm had revenue of $123.50 million for the quarter, compared to analysts’ expectations 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 prior year, the business posted $0.44 earnings per share. Analysts forecast that Cathay General Bancorp will post $2.44 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Friday, September 1st were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend was Wednesday, August 30th. Cathay General Bancorp’s payout ratio is presently 34.57%.
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CATY has been the subject of several analyst reports. Piper Jaffray Companies reissued a “buy” rating and set a $42.00 price target on shares of Cathay General Bancorp in a research report on Wednesday, July 12th. Zacks Investment Research raised shares of Cathay General Bancorp from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research report on Thursday, June 1st. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $37.00 target price on shares of Cathay General Bancorp in a research report on Tuesday, July 25th. SunTrust Banks, Inc. initiated coverage on shares of Cathay General Bancorp in a research report on Friday, August 18th. They issued a “hold” rating and a $39.00 target price for the company. Finally, BidaskClub raised shares of Cathay General Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $40.33.
Cathay General Bancorp 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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