Tiaa Fsb bought a new stake in Cathay General Bancorp (NASDAQ:CATY) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 17,749 shares of the bank’s stock, valued at approximately $674,000.

Other hedge funds also recently modified their holdings of the company. Karp Capital Management Corp acquired a new position in Cathay General Bancorp in the first quarter valued at approximately $526,000. Prudential Financial Inc. boosted its stake in Cathay General Bancorp by 23.1% in the second quarter. Prudential Financial Inc. now owns 1,185,515 shares of the bank’s stock valued at $44,990,000 after acquiring an additional 222,106 shares during the period. Great West Life Assurance Co. Can boosted its stake in Cathay General Bancorp by 0.8% in the second quarter. Great West Life Assurance Co. Can now owns 44,923 shares of the bank’s stock valued at $1,704,000 after acquiring an additional 346 shares during the period. ClariVest Asset Management LLC boosted its stake in Cathay General Bancorp by 160.6% in the first quarter. ClariVest Asset Management LLC now owns 159,500 shares of the bank’s stock valued at $6,010,000 after acquiring an additional 98,300 shares during the period. Finally, Mason Street Advisors LLC boosted its stake in Cathay General Bancorp by 2.2% in the first quarter. Mason Street Advisors LLC now owns 35,357 shares of the bank’s stock valued at $1,332,000 after acquiring an additional 747 shares during the period. Institutional investors own 67.78% of the company’s stock.

Cathay General Bancorp (NASDAQ:CATY) opened at 38.00 on Monday. The firm has a market capitalization of $3.07 billion, a P/E ratio of 15.64 and a beta of 1.29. The stock’s 50 day moving average price is $35.96 and its 200 day moving average price is $37.26. Cathay General Bancorp has a 12 month low of $28.84 and a 12 month high of $40.83.

Cathay General Bancorp (NASDAQ:CATY) last released its quarterly earnings results on Wednesday, July 19th. The bank reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.03. Cathay General Bancorp had a net margin of 35.30% and a return on equity of 10.54%. The business had revenue of $123.50 million for the quarter, compared to analysts’ expectations of $129.10 million. During the same period in the prior year, the firm earned $0.44 earnings per share. On average, analysts forecast that Cathay General Bancorp will post $2.44 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Friday, September 1st were issued a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.84 annualized dividend and a yield of 2.21%. Cathay General Bancorp’s dividend payout ratio is currently 34.57%.

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A number of brokerages have commented on CATY. BidaskClub downgraded Cathay General Bancorp from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. Zacks Investment Research upgraded Cathay General Bancorp from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research note on Monday, September 18th. SunTrust Banks, Inc. started coverage on Cathay General Bancorp in a research report on Friday, August 18th. They set a “hold” rating and a $39.00 price objective for the company. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $37.00 price objective on shares of Cathay General Bancorp in a research report on Tuesday, July 25th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $42.00 price objective on shares of Cathay General Bancorp in a research report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Cathay General Bancorp has an average rating of “Hold” and a consensus 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.

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

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