Legal & General Group Plc Buys 4,792 Shares of Cathay General Bancorp (CATY)

Legal & General Group Plc boosted its stake in Cathay General Bancorp (NASDAQ:CATY) by 6.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 79,832 shares of the bank’s stock after purchasing an additional 4,792 shares during the period. Legal & General Group Plc’s holdings in Cathay General Bancorp were worth $2,677,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. JOYN Advisors Inc. increased its position in Cathay General Bancorp by 198.0% in the 4th quarter. JOYN Advisors Inc. now owns 733 shares of the bank’s stock valued at $25,000 after acquiring an additional 487 shares during the period. Oregon Public Employees Retirement Fund increased its position in Cathay General Bancorp by 3,307.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,029,639 shares of the bank’s stock valued at $31,000 after acquiring an additional 999,424 shares during the period. Toronto Dominion Bank acquired a new position in Cathay General Bancorp in the 4th quarter valued at about $40,000. Oppenheimer Asset Management Inc. acquired a new position in Cathay General Bancorp in the 4th quarter valued at about $57,000. Finally, Advisors Asset Management Inc. acquired a new position in Cathay General Bancorp in the 4th quarter valued at about $184,000. Hedge funds and other institutional investors own 72.58% of the company’s stock.

In other Cathay General Bancorp news, Vice Chairman Anthony M. Tang sold 10,000 shares of Cathay General Bancorp stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $39.76, for a total value of $397,600.00. Following the sale, the insider now owns 258,006 shares of the company’s stock, valued at approximately $10,258,318.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kim R. Bingham sold 900 shares of Cathay General Bancorp stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $37.61, for a total value of $33,849.00. Following the completion of the sale, the executive vice president now directly owns 27,520 shares in the company, valued at approximately $1,035,027.20. The disclosure for this sale can be found here. Insiders sold a total of 15,100 shares of company stock worth $590,713 in the last ninety days. 4.90% of the stock is owned by corporate insiders.

Several brokerages recently issued reports on CATY. Zacks Investment Research cut Cathay General Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, January 23rd. BidaskClub lowered Cathay General Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, March 7th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $46.63.

Shares of CATY opened at $36.22 on Wednesday. Cathay General Bancorp has a twelve month low of $31.94 and a twelve month high of $44.05. The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of 10.84, a price-to-earnings-growth ratio of 1.27 and a beta of 1.25. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.06 and a current ratio of 1.06.

Cathay General Bancorp (NASDAQ:CATY) last announced its quarterly earnings data on Wednesday, January 23rd. The bank reported $0.80 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.80. Cathay General Bancorp had a return on equity of 13.18% and a net margin of 37.84%. The company had revenue of $155.88 million for the quarter, compared to analyst estimates of $155.75 million. During the same quarter in the previous year, the company earned $0.61 EPS. Analysts expect that Cathay General Bancorp will post 3.48 EPS for the current year.

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About Cathay General Bancorp

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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Want to see what other hedge funds are holding CATY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cathay General Bancorp (NASDAQ:CATY).

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

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