NumerixS Investment Technologies Inc bought a new stake in Cathay General Bancorp (NASDAQ:CATY) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,600 shares of the bank’s stock, valued at approximately $122,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Mackay Shields LLC bought a new stake in Cathay General Bancorp during the fourth quarter worth about $1,113,000. Los Angeles Capital Management & Equity Research Inc. grew its stake in Cathay General Bancorp by 29.0% during the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 152,091 shares of the bank’s stock worth $5,157,000 after buying an additional 34,165 shares during the last quarter. Rhumbline Advisers grew its stake in Cathay General Bancorp by 42.6% during the fourth quarter. Rhumbline Advisers now owns 282,677 shares of the bank’s stock worth $9,478,000 after buying an additional 84,484 shares during the last quarter. Martingale Asset Management L P grew its stake in Cathay General Bancorp by 3.7% during the fourth quarter. Martingale Asset Management L P now owns 179,464 shares of the bank’s stock worth $6,018,000 after buying an additional 6,389 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System grew its stake in Cathay General Bancorp by 10.7% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 63,265 shares of the bank’s stock worth $2,121,000 after buying an additional 6,121 shares during the last quarter. 71.61% of the stock is currently owned by institutional investors and hedge funds.

Shares of Cathay General Bancorp stock opened at $34.57 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.29. The stock has a market cap of $2.79 billion, a price-to-earnings ratio of 10.21, a PEG ratio of 1.25 and a beta of 1.26. Cathay General Bancorp has a 1-year low of $31.94 and a 1-year high of $43.53.

Cathay General Bancorp (NASDAQ:CATY) last released its quarterly earnings results on Wednesday, April 17th. The bank reported $0.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.03. Cathay General Bancorp had a net margin of 36.43% and a return on equity of 13.08%. The business had revenue of $156.24 million for the quarter, compared to analysts’ expectations of $153.10 million. During the same period in the prior year, the firm earned $0.78 earnings per share. As a group, equities analysts anticipate that Cathay General Bancorp will post 3.48 EPS for the current year.

Cathay General Bancorp announced that its board has approved a stock buyback plan on Tuesday, May 7th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the bank to repurchase up to 1.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

The business also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Monday, June 3rd were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.24 annualized dividend and a dividend yield of 3.59%. Cathay General Bancorp’s dividend payout ratio (DPR) is currently 37.13%.

Several brokerages have weighed in on CATY. BidaskClub cut shares of Cathay General Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, March 7th. Zacks Investment Research raised shares of Cathay General Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, April 23rd.

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Cathay General Bancorp Profile

Cathay General Bancorp operates as the holding company for Cathay Bank that offers various commercial banking products and services to individuals, professionals, and small to medium-sized businesses in the United States. The company offers various deposit products, including passbook accounts, checking accounts, money market deposit accounts, certificates of deposit, individual retirement accounts, and public funds deposits.

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

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