State Board of Administration of Florida Retirement System trimmed its holdings in shares of Cathay General Bancorp (NASDAQ:CATY) by 0.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 57,764 shares of the bank’s stock after selling 114 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.07% of Cathay General Bancorp worth $2,192,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in the stock. BlackRock Inc. increased its position in Cathay General Bancorp by 17,138.1% during the first quarter. BlackRock Inc. now owns 7,956,239 shares of the bank’s stock worth $299,791,000 after acquiring an additional 7,910,084 shares during the period. Vanguard Group Inc. grew its stake in Cathay General Bancorp by 2.7% during the first quarter. Vanguard Group Inc. now owns 6,978,981 shares of the bank’s stock worth $262,968,000 after buying an additional 182,443 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Cathay General Bancorp by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 4,149,136 shares of the bank’s stock worth $156,340,000 after buying an additional 103,891 shares in the last quarter. State Street Corp grew its stake in Cathay General Bancorp by 7.4% during the first quarter. State Street Corp now owns 3,583,537 shares of the bank’s stock worth $135,026,000 after buying an additional 247,885 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Cathay General Bancorp by 4.3% during the first quarter. Bank of New York Mellon Corp now owns 1,464,265 shares of the bank’s stock worth $55,174,000 after buying an additional 60,369 shares in the last quarter. 67.80% of the stock is currently owned by institutional investors and hedge funds.
Shares of Cathay General Bancorp (CATY) opened at 35.65 on Tuesday. The firm has a market capitalization of $2.88 billion, a P/E ratio of 14.67 and a beta of 1.29. Cathay General Bancorp has a 1-year low of $28.84 and a 1-year high of $40.83. The stock has a 50 day moving average of $36.19 and a 200-day moving average of $37.40.
Cathay General Bancorp (NASDAQ:CATY) last posted its quarterly earnings data on Wednesday, July 19th. The bank reported $0.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.03. The company had revenue of $123.50 million for the quarter, compared to analysts’ expectations 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 earnings per share. On average, equities analysts expect that Cathay General Bancorp will post $2.44 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Friday, September 1st were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.36%. The ex-dividend date was Wednesday, August 30th. Cathay General Bancorp’s dividend payout ratio (DPR) is 34.57%.
CATY has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Cathay General Bancorp from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research note on Thursday, June 1st. BidaskClub upgraded shares of Cathay General Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, July 3rd. Royal Bank Of Canada increased their price objective on shares of Cathay General Bancorp from $35.00 to $43.00 and gave the stock an “outperform” rating in a research note on Thursday, July 20th. Wedbush reiterated a “neutral” rating and set a $39.00 price objective on shares of Cathay General Bancorp in a research note on Tuesday, June 27th. Finally, Keefe, Bruyette & Woods set a $37.00 price objective on shares of Cathay General Bancorp and gave the stock a “hold” rating in a research note on Monday, May 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Cathay General Bancorp presently has an average rating of “Hold” and an average price target of $40.83.
About Cathay General Bancorp
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.
Receive News & Ratings for Cathay General Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cathay General Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.