Cathay General Bancorp (CATY) Holdings Trimmed by Rothschild Asset Management Inc.
Rothschild Asset Management Inc. reduced its stake in shares of Cathay General Bancorp (NASDAQ:CATY) by 1.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 349,844 shares of the bank’s stock after selling 5,935 shares during the quarter. Rothschild Asset Management Inc. owned 0.43% of Cathay General Bancorp worth $14,064,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of CATY. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Cathay General Bancorp by 9.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,029 shares of the bank’s stock worth $115,000 after acquiring an additional 252 shares during the last quarter. Flinton Capital Management LLC boosted its position in Cathay General Bancorp by 65.9% during the second quarter. Flinton Capital Management LLC now owns 3,584 shares of the bank’s stock worth $136,000 after acquiring an additional 1,424 shares during the last quarter. Riverhead Capital Management LLC boosted its position in Cathay General Bancorp by 63.5% during the second quarter. Riverhead Capital Management LLC now owns 3,924 shares of the bank’s stock worth $149,000 after acquiring an additional 1,524 shares during the last quarter. Oakbrook Investments LLC acquired a new stake in Cathay General Bancorp during the second quarter worth approximately $211,000. Finally, Shelton Capital Management acquired a new stake in Cathay General Bancorp during the second quarter worth approximately $215,000. Institutional investors own 65.46% of the company’s stock.
CATY has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Cathay General Bancorp from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research report on Monday, October 30th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $43.00 price target on shares of Cathay General Bancorp in a research note on Friday, September 1st. BMO Capital Markets reaffirmed a “buy” rating and set a $44.00 price target on shares of Cathay General Bancorp in a research note on Thursday, October 5th. SunTrust Banks, Inc. started coverage on shares of Cathay General Bancorp in a research note on Friday, August 18th. They set a “hold” rating and a $39.00 price target on the stock. Finally, Royal Bank Of Canada increased their price target on shares of Cathay General Bancorp from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, October 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $42.14.
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In related news, COO Irwin Wong sold 6,059 shares of Cathay General Bancorp stock in a transaction on Monday, November 20th. The shares were sold at an average price of $42.00, for a total transaction of $254,478.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 5.76% of the company’s stock.
Cathay General Bancorp (NASDAQ:CATY) opened at $42.23 on Friday. Cathay General Bancorp has a one year low of $34.00 and a one year high of $42.65. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.37. The company has a market cap of $3,413.03, a price-to-earnings ratio of 16.96, a PEG ratio of 2.12 and a beta of 1.34.
Cathay General Bancorp (NASDAQ:CATY) last issued its earnings results on Wednesday, October 25th. The bank reported $0.61 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.01. Cathay General Bancorp had a net margin of 33.87% and a return on equity of 10.60%. The business had revenue of $146.20 million for the quarter, compared to the consensus estimate of $135.27 million. During the same quarter last year, the firm posted $0.58 EPS. The business’s revenue for the quarter was up 29.8% compared to the same quarter last year. sell-side analysts forecast that Cathay General Bancorp will post 2.49 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, December 1st will be paid a dividend of $0.24 per share. This is an increase from Cathay General Bancorp’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.96 annualized dividend and a yield of 2.27%. Cathay General Bancorp’s payout ratio is 34.15%.
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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