First Trust Advisors LP Decreases Holdings in Cathay General Bancorp (NASDAQ:CATY)

First Trust Advisors LP decreased its position in shares of Cathay General Bancorp (NASDAQ:CATY) by 2.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 222,200 shares of the bank’s stock after selling 6,741 shares during the quarter. First Trust Advisors LP owned 0.28% of Cathay General Bancorp worth $7,718,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its stake in shares of Cathay General Bancorp by 21.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 90,511 shares of the bank’s stock worth $3,148,000 after acquiring an additional 15,899 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of Cathay General Bancorp by 31.6% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 2,393 shares of the bank’s stock worth $83,000 after acquiring an additional 575 shares in the last quarter. California Public Employees Retirement System boosted its stake in shares of Cathay General Bancorp by 27.5% during the 3rd quarter. California Public Employees Retirement System now owns 215,567 shares of the bank’s stock worth $7,488,000 after acquiring an additional 46,483 shares in the last quarter. Hancock Whitney Corp purchased a new stake in shares of Cathay General Bancorp during the 3rd quarter worth approximately $246,000. Finally, Quest Capital Management Inc. ADV purchased a new stake in shares of Cathay General Bancorp during the 3rd quarter worth approximately $27,000. 69.36% of the stock is currently owned by institutional investors and hedge funds.

Shares of Cathay General Bancorp stock opened at $36.70 on Tuesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.06 and a quick ratio of 1.06. Cathay General Bancorp has a 1 year low of $31.89 and a 1 year high of $40.11. The company has a market capitalization of $2.93 billion, a P/E ratio of 10.69 and a beta of 1.27. The business has a 50 day moving average price of $35.67 and a 200 day moving average price of $35.25.

Cathay General Bancorp (NASDAQ:CATY) last issued its quarterly earnings data on Wednesday, October 16th. The bank reported $0.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.03. Cathay General Bancorp had a return on equity of 12.68% and a net margin of 34.23%. The firm had revenue of $157.39 million during the quarter, compared to the consensus estimate of $156.07 million. During the same period in the previous year, the firm posted $0.85 EPS. As a group, research analysts expect that Cathay General Bancorp will post 3.49 EPS for the current fiscal year.

Several research analysts recently issued reports on CATY shares. Zacks Investment Research upgraded Cathay General Bancorp from a “strong sell” rating to a “hold” rating in a research report on Monday, October 21st. Wedbush cut their price objective on Cathay General Bancorp from $40.00 to $39.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. ValuEngine upgraded Cathay General Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, BidaskClub upgraded Cathay General Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $41.50.

In other Cathay General Bancorp news, Vice Chairman Anthony M. Tang sold 10,000 shares of the business’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $36.59, for a total value of $365,900.00. Following the completion of the transaction, the insider now directly owns 250,122 shares in the company, valued at approximately $9,151,963.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jane H. Jelenko sold 5,000 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $37.13, for a total value of $185,650.00. The disclosure for this sale can be found here. Insiders have sold a total of 20,245 shares of company stock valued at $737,182 over the last 90 days. Insiders own 4.73% of the company’s stock.

Cathay General Bancorp Company Profile

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

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