Strs Ohio maintained its stake in Cathay General Bancorp (NASDAQ:CATY) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,800 shares of the bank’s stock at the end of the second quarter. Strs Ohio’s holdings in Cathay General Bancorp were worth $1,396,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the stock. Karp Capital Management Corp purchased a new position in shares of Cathay General Bancorp during the first quarter valued at about $526,000. Retirement Systems of Alabama boosted its position in shares of Cathay General Bancorp by 0.9% in the first quarter. Retirement Systems of Alabama now owns 96,623 shares of the bank’s stock valued at $3,641,000 after buying an additional 862 shares during the period. Louisiana State Employees Retirement System boosted its position in shares of Cathay General Bancorp by 3.3% in the first quarter. Louisiana State Employees Retirement System now owns 18,900 shares of the bank’s stock valued at $712,000 after buying an additional 600 shares during the period. ClariVest Asset Management LLC boosted its position in shares of 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 buying an additional 98,300 shares during the period. Finally, Mason Street Advisors LLC boosted its position in shares of 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 buying an additional 747 shares during the period. Hedge funds and other institutional investors own 67.31% of the company’s stock.
Cathay General Bancorp (NASDAQ CATY) opened at 35.31 on Friday. Cathay General Bancorp has a 12 month low of $28.84 and a 12 month high of $40.83. The firm has a market capitalization of $2.85 billion, a PE ratio of 14.53 and a beta of 1.27. The stock’s 50 day moving average price is $37.51 and its 200 day moving average price is $37.78.
Cathay General Bancorp (NASDAQ:CATY) last announced its earnings results on Wednesday, July 19th. The bank reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.03. The firm had revenue of $123.50 million during the quarter, compared to analyst estimates 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 earned $0.44 EPS. Equities research analysts expect that Cathay General Bancorp will post $2.44 earnings per share for the current fiscal year.
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Several equities analysts have recently issued reports on CATY shares. Piper Jaffray Companies lowered their price target on Cathay General Bancorp from $43.00 to $42.00 and set an “overweight” rating on the stock in a research report on Monday, April 17th. Zacks Investment Research upgraded Cathay General Bancorp from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research report on Friday, April 21st. Keefe, Bruyette & Woods set a $37.00 price target on Cathay General Bancorp and gave the company a “hold” rating in a research report on Monday, May 22nd. BidaskClub upgraded Cathay General Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Finally, Wedbush reiterated a “neutral” rating and set a $39.00 price target on shares of Cathay General Bancorp in a research report on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $41.00.
In related news, Vice Chairman Anthony M. Tang sold 50,000 shares of the company’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $38.01, for a total value of $1,900,500.00. Following the completion of the transaction, the insider now directly owns 301,400 shares of the company’s stock, valued at approximately $11,456,214. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 5.76% of the stock is currently owned by corporate insiders.
Cathay General Bancorp Company 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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