D. E. Shaw & Co. Inc. lessened its holdings in shares of Cathay General Bancorp (NASDAQ:CATY) by 62.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,800 shares of the bank’s stock after selling 11,197 shares during the period. D. E. Shaw & Co. Inc.’s holdings in Cathay General Bancorp were worth $228,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of CATY. Martingale Asset Management L P grew its holdings in Cathay General Bancorp by 12.0% in the third quarter. Martingale Asset Management L P now owns 173,075 shares of the bank’s stock valued at $7,173,000 after purchasing an additional 18,500 shares during the last quarter. Allianz Asset Management GmbH grew its holdings in Cathay General Bancorp by 47.7% in the third quarter. Allianz Asset Management GmbH now owns 40,331 shares of the bank’s stock valued at $1,671,000 after purchasing an additional 13,017 shares during the last quarter. Tower Research Capital LLC TRC acquired a new stake in Cathay General Bancorp in the third quarter valued at $276,000. JPMorgan Chase & Co. grew its holdings in Cathay General Bancorp by 31.2% in the third quarter. JPMorgan Chase & Co. now owns 841,347 shares of the bank’s stock valued at $34,865,000 after purchasing an additional 199,979 shares during the last quarter. Finally, Citadel Advisors LLC grew its holdings in Cathay General Bancorp by 21.3% in the third quarter. Citadel Advisors LLC now owns 27,456 shares of the bank’s stock valued at $1,137,000 after purchasing an additional 4,824 shares during the last quarter. 72.58% of the stock is currently owned by institutional investors.
Cathay General Bancorp stock opened at $36.22 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of 10.58, a PEG ratio of 1.27 and a beta of 1.25. Cathay General Bancorp has a fifty-two week low of $31.94 and a fifty-two week high of $44.05.
Cathay General Bancorp (NASDAQ:CATY) last posted its earnings results on Wednesday, January 23rd. The bank reported $0.80 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.80. The company had revenue of $155.88 million for the quarter, compared to analyst estimates of $155.75 million. Cathay General Bancorp had a return on equity of 13.18% and a net margin of 37.84%. During the same quarter in the prior year, the company earned $0.61 earnings per share. Equities analysts predict that Cathay General Bancorp will post 3.48 EPS for the current year.
In other news, EVP Kim R. Bingham sold 900 shares of the company’s stock in a transaction on Monday, February 4th. The stock was sold at an average price of $37.61, for a total value of $33,849.00. Following the sale, the executive vice president now directly owns 27,520 shares in the company, valued at $1,035,027.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Anthony M. Tang sold 10,000 shares of the company’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $39.76, for a total value of $397,600.00. Following the completion of the sale, the insider now owns 258,006 shares in the company, valued at $10,258,318.56. The disclosure for this sale can be found here. Insiders sold 15,100 shares of company stock worth $590,713 over the last 90 days. Company insiders own 4.90% of the company’s stock.
CATY has been the topic of several research reports. Zacks Investment Research lowered Cathay General Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, April 3rd. BidaskClub lowered Cathay General Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, March 7th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $46.63.
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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