Denali Advisors LLC Acquires 628 Shares of Cathay General Bancorp $CATY

Denali Advisors LLC grew its holdings in Cathay General Bancorp (NASDAQ:CATY) by 0.4% in the second quarter, HoldingsChannel reports. The fund owned 148,246 shares of the bank’s stock after buying an additional 628 shares during the period. Denali Advisors LLC’s holdings in Cathay General Bancorp were worth $6,750,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its position in shares of Cathay General Bancorp by 3.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,970,173 shares of the bank’s stock valued at $127,807,000 after acquiring an additional 108,672 shares during the period. Invesco Ltd. raised its stake in Cathay General Bancorp by 3.8% in the first quarter. Invesco Ltd. now owns 1,577,657 shares of the bank’s stock valued at $67,887,000 after purchasing an additional 58,215 shares in the last quarter. Wellington Management Group LLP acquired a new position in Cathay General Bancorp in the first quarter valued at about $25,856,000. Nuveen LLC acquired a new position in Cathay General Bancorp during the first quarter worth about $23,188,000. Finally, Principal Financial Group Inc. raised its stake in Cathay General Bancorp by 2.6% during the first quarter. Principal Financial Group Inc. now owns 354,457 shares of the bank’s stock worth $15,252,000 after acquiring an additional 8,860 shares in the last quarter. Institutional investors own 75.01% of the company’s stock.

Analyst Ratings Changes

CATY has been the subject of several research analyst reports. DA Davidson boosted their target price on Cathay General Bancorp from $45.00 to $51.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Cathay General Bancorp in a research note on Wednesday, October 8th. Wall Street Zen raised Cathay General Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, October 11th. Keefe, Bruyette & Woods boosted their target price on Cathay General Bancorp from $51.00 to $52.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 23rd. Finally, Stephens downgraded Cathay General Bancorp from an “overweight” rating to an “equal weight” rating and set a $50.00 price objective for the company. in a research note on Monday, August 4th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Cathay General Bancorp has a consensus rating of “Hold” and an average price target of $50.17.

Cathay General Bancorp Stock Performance

Cathay General Bancorp stock opened at $47.13 on Wednesday. The business has a 50 day moving average of $48.64 and a 200-day moving average of $45.58. Cathay General Bancorp has a 1 year low of $36.06 and a 1 year high of $55.29. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market capitalization of $3.26 billion, a P/E ratio of 11.38 and a beta of 0.94.

Cathay General Bancorp (NASDAQ:CATY) last released its quarterly earnings data on Tuesday, October 21st. The bank reported $1.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.02). Cathay General Bancorp had a net margin of 21.44% and a return on equity of 10.39%. The firm had revenue of $210.61 million during the quarter, compared to analyst estimates of $202.71 million. During the same period in the prior year, the company earned $0.94 EPS. On average, equities research analysts predict that Cathay General Bancorp will post 4.47 earnings per share for the current year.

Cathay General Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Thursday, August 28th were issued a $0.34 dividend. The ex-dividend date was Thursday, August 28th. This represents a $1.36 annualized dividend and a yield of 2.9%. Cathay General Bancorp’s dividend payout ratio is presently 32.85%.

Cathay General Bancorp 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.