Public Employees Retirement System of Ohio raised its position in shares of Cathay General Bancorp (NASDAQ:CATY) by 0.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 55,967 shares of the bank’s stock after purchasing an additional 127 shares during the period. Public Employees Retirement System of Ohio owned about 0.07% of Cathay General Bancorp worth $2,124,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of CATY. UBS Asset Management Americas Inc. raised its position in Cathay General Bancorp by 47.1% during the 1st quarter. UBS Asset Management Americas Inc. now owns 46,465 shares of the bank’s stock valued at $1,751,000 after purchasing an additional 14,868 shares in the last quarter. Teachers Advisors LLC raised its position in Cathay General Bancorp by 2.4% during the 1st quarter. Teachers Advisors LLC now owns 690,355 shares of the bank’s stock valued at $26,013,000 after purchasing an additional 16,056 shares in the last quarter. Legal & General Group Plc raised its position in Cathay General Bancorp by 24.9% during the 1st quarter. Legal & General Group Plc now owns 47,410 shares of the bank’s stock valued at $1,787,000 after purchasing an additional 9,459 shares in the last quarter. Vanguard Group Inc. raised its position in Cathay General Bancorp by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 6,978,981 shares of the bank’s stock valued at $262,968,000 after purchasing an additional 182,443 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in Cathay General Bancorp during the 1st quarter valued at $3,703,000. 68.05% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have recently issued reports on the company. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $37.00 price target on shares of Cathay General Bancorp in a report on Tuesday, July 25th. BidaskClub downgraded Cathay General Bancorp from a “hold” rating to a “sell” rating in a report on Sunday, July 16th. Royal Bank Of Canada lifted their price target on Cathay General Bancorp from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, October 26th. Zacks Investment Research downgraded Cathay General Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $43.00 price target on shares of Cathay General Bancorp in a report on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. Cathay General Bancorp presently has a consensus rating of “Hold” and an average target price of $42.00.
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Cathay General Bancorp (NASDAQ:CATY) last announced its quarterly earnings data on Wednesday, October 25th. The bank reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.01. The business had revenue of $146.20 million for the quarter, compared to analysts’ expectations of $135.27 million. Cathay General Bancorp had a return on equity of 10.60% and a net margin of 33.87%. The company’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period last year, the firm earned $0.58 earnings per share.
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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