CSM Advisors LLC Acquires 15,477 Shares of Cathay General Bancorp $CATY

CSM Advisors LLC increased its holdings in Cathay General Bancorp (NASDAQ:CATY) by 10.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 170,906 shares of the bank’s stock after purchasing an additional 15,477 shares during the quarter. CSM Advisors LLC owned approximately 0.25% of Cathay General Bancorp worth $8,205,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Royal Bank of Canada raised its position in Cathay General Bancorp by 25.8% during the 1st quarter. Royal Bank of Canada now owns 14,761 shares of the bank’s stock worth $634,000 after purchasing an additional 3,030 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Cathay General Bancorp by 20.0% in the 1st quarter. AQR Capital Management LLC now owns 40,456 shares of the bank’s stock valued at $1,708,000 after buying an additional 6,740 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Cathay General Bancorp by 1.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,395 shares of the bank’s stock valued at $1,738,000 after buying an additional 760 shares during the period. Caxton Associates LLP acquired a new stake in shares of Cathay General Bancorp in the first quarter valued at about $316,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Cathay General Bancorp by 5.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 183,090 shares of the bank’s stock worth $7,878,000 after acquiring an additional 8,914 shares during the last quarter. 75.01% of the stock is currently owned by institutional investors and hedge funds.

Cathay General Bancorp Stock Performance

Shares of CATY opened at $47.38 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.05. The firm’s fifty day simple moving average is $51.08 and its two-hundred day simple moving average is $49.36. Cathay General Bancorp has a 12 month low of $36.06 and a 12 month high of $54.99. The stock has a market capitalization of $3.17 billion, a P/E ratio of 10.44 and a beta of 0.86.

Cathay General Bancorp (NASDAQ:CATY) last posted its quarterly earnings data on Thursday, January 22nd. The bank reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.13. Cathay General Bancorp had a return on equity of 10.89% and a net margin of 22.76%.The firm had revenue of $222.83 million during the quarter, compared to analyst estimates of $211.76 million. During the same period last year, the company posted $1.12 EPS. As a group, analysts predict that Cathay General Bancorp will post 4.47 EPS for the current year.

Cathay General Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 9th. Shareholders of record on Thursday, February 26th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.2%. This is a boost from Cathay General Bancorp’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Thursday, February 26th. Cathay General Bancorp’s payout ratio is presently 33.48%.

Insider Transactions at Cathay General Bancorp

In other Cathay General Bancorp news, EVP Thomas M. Lo sold 1,000 shares of the stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $50.23, for a total transaction of $50,230.00. Following the transaction, the executive vice president directly owned 2,000 shares in the company, valued at approximately $100,460. This represents a 33.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on CATY. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Cathay General Bancorp in a research note on Monday, December 29th. Wall Street Zen raised shares of Cathay General Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $52.50.

Cathay General Bancorp Company Profile

Cathay General Bancorp is a bank holding company headquartered in Los Angeles, California, trading on NASDAQ under the symbol CATY. Its principal subsidiary, Cathay Bank, provides a full suite of financial services to commercial, institutional and retail clients. As a community-focused institution, the company emphasizes relationship banking and tailored solutions for businesses and individuals.

Founded in 1962 by a group of Chinese American entrepreneurs, Cathay has expanded from a single branch operation in downtown Los Angeles into one of the largest Asian-American banks in the United States.