Cathay General Bancorp $CATY Shares Acquired by Osaic Holdings Inc.

Osaic Holdings Inc. increased its position in shares of Cathay General Bancorp (NASDAQ:CATY) by 152.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,335 shares of the bank’s stock after purchasing an additional 20,114 shares during the quarter. Osaic Holdings Inc.’s holdings in Cathay General Bancorp were worth $1,518,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Atria Investments Inc raised its position in Cathay General Bancorp by 4.9% during the 2nd quarter. Atria Investments Inc now owns 4,965 shares of the bank’s stock worth $226,000 after buying an additional 231 shares during the last quarter. Cetera Investment Advisers raised its holdings in shares of Cathay General Bancorp by 1.0% during the second quarter. Cetera Investment Advisers now owns 32,156 shares of the bank’s stock worth $1,464,000 after purchasing an additional 312 shares during the last quarter. SummerHaven Investment Management LLC raised its holdings in shares of Cathay General Bancorp by 1.7% during the second quarter. SummerHaven Investment Management LLC now owns 21,105 shares of the bank’s stock worth $961,000 after purchasing an additional 358 shares during the last quarter. CWM LLC lifted its position in Cathay General Bancorp by 16.1% during the second quarter. CWM LLC now owns 2,769 shares of the bank’s stock valued at $126,000 after purchasing an additional 383 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Cathay General Bancorp by 19.8% in the second quarter. GAMMA Investing LLC now owns 2,423 shares of the bank’s stock valued at $110,000 after purchasing an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 75.01% of the company’s stock.

Insider Activity at Cathay General Bancorp

In related news, Chairman Dunson K. Cheng sold 14,000 shares of Cathay General Bancorp stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $46.24, for a total value of $647,360.00. Following the sale, the chairman directly owned 155,950 shares in the company, valued at approximately $7,211,128. The trade was a 8.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Thomas M. Lo sold 1,000 shares of the stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $46.83, for a total value of $46,830.00. Following the transaction, the executive vice president directly owned 3,000 shares of the company’s stock, valued at $140,490. The trade was a 25.00% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 38,755 shares of company stock valued at $1,820,148. 4.76% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods boosted their price objective on Cathay General Bancorp from $53.00 to $55.00 and gave the company a “market perform” rating in a report on Wednesday, October 22nd. Weiss Ratings restated a “buy (b-)” rating on shares of Cathay General Bancorp in a research report on Monday. DA Davidson lifted their target price on shares of Cathay General Bancorp from $51.00 to $52.00 and gave the company a “neutral” rating in a report on Thursday, October 23rd. Finally, Wall Street Zen upgraded shares of Cathay General Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $50.60.

Cathay General Bancorp Trading Down 1.3%

Shares of NASDAQ:CATY opened at $48.80 on Wednesday. Cathay General Bancorp has a 1 year low of $36.06 and a 1 year high of $51.94. The firm has a market capitalization of $3.32 billion, a price-to-earnings ratio of 11.27 and a beta of 0.88. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.04 and a quick ratio of 1.04. The business’s 50 day moving average price is $48.22 and its 200-day moving average price is $47.79.

Cathay General Bancorp (NASDAQ:CATY) last issued its quarterly earnings results on Tuesday, October 21st. The bank reported $1.13 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.02). The company had revenue of $210.61 million during the quarter, compared to analysts’ expectations of $202.71 million. Cathay General Bancorp had a return on equity of 10.60% and a net margin of 22.26%.During the same period in the previous year, the firm posted $0.94 EPS. On average, equities research analysts forecast that Cathay General Bancorp will post 4.47 earnings per share for the current fiscal year.

Cathay General Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Monday, December 1st were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Monday, December 1st. Cathay General Bancorp’s dividend payout ratio is 31.41%.

Cathay General Bancorp Company Profile

Cathay General Bancorp is a bank holding company headquartered in Los Angeles, California, trading on NASDAQ under the symbol CATY. Its principal subsidiary, Cathay Bank, provides a full suite of financial services to commercial, institutional and retail clients. As a community-focused institution, the company emphasizes relationship banking and tailored solutions for businesses and individuals.

Founded in 1962 by a group of Chinese American entrepreneurs, Cathay has expanded from a single branch operation in downtown Los Angeles into one of the largest Asian-American banks in the United States.