Truist Financial Corp cut its position in Cathay General Bancorp (NASDAQ:CATY – Get Rating) by 50.5% in the third quarter, according to its latest filing with the Securities and Exchange Commission (SEC). Institutional investors owned 7,687 shares of the bank’s shares after selling 7,843 shares during the period. Truist Financial Corp’s holdings in Cathay General Bancorp were valued at $296,000 as of the latest SEC filing.
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Other hedge funds have also recently bought and sold shares in the company. Texas Permanent School Fund increased his position at Cathay General Bancorp by 1.3% in the second quarter. The Texas Permanent School Fund now owns 54,386 shares of bank stock worth $2,129,000 after purchasing an additional 682 shares last quarter. Strs Ohio increased its position at Cathay General Bancorp by 6.8% in the second quarter. Strs Ohio now owns 6,300 shares of bank stock worth $246,000 after buying another 400 shares last quarter. Boston Trust Walden Corp increased its position in Cathay General Bancorp by 28.0% in the second quarter. Boston Trust Walden Corporation now owns 851,437 shares of the bank worth $33,333,000 after purchasing an additional 186,354 shares in the previous quarter. Trexquant Investment LP increased its position in Cathay General Bancorp by 321.5% in the second quarter. Trexquant Investment LP owns 20,147 shares of bank stock valued at $789,000 after purchasing an additional 15,367 shares in the previous quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Cathay General Bancorp for $842,000 in the second quarter. 67.15% of the shares are owned by hedge funds and other institutional investors.
Analyst sets new price target
Several equity analysts are eyeing CATY stock. DA Davidson raised his price target for Cathay General Bancorp to $47.00 in a research report on Thursday, Oct. 27. StockNews.com downgraded Cathay General Bancorp from ‘buy’ to ‘pending’ in a research report on Tuesday, November 22nd.
Insider activity at Cathay General Bancorp
In related news, Vice Chairman Anthony M. Tan sold 10,000 shares in Cathay General Bancorp in a transaction on Friday 9 December. The shares were sold at an average price of $43.24 for a total of $432,400.00. After the transaction, the insider now owns his 213,964 shares in the company, worth $9,251,803.36 to him. The sale is disclosed in legal documents to the Securities and Exchange Commission, available at this hyperlink. In other Cathay General Bancorp news, Vice Chairman Peter Wu sold 2,905 shares in the company in his Wednesday November 9th deal. The shares sold for an average of $45.05, and the total transaction value he had was $130,870.25. After the transaction, the insider now owns his 392,347 shares in the company, valued at $17,675,232.35. The sale was disclosed in legal documents to the SEC available on the SEC’s website. Vice Chairman Anthony M. Tan also sold 10,000 shares in the company in a transaction on Friday, December 9. The shares were sold at an average price of $43.24 for a total of $432,400.00. After the transaction, insiders now own 213,964 shares of the company, valued at approximately $9,251,803.36. Please see here for the disclosure of this sale. In the past 90 days, the insider has sold 17,905 shares of his company stock worth $790,170. 4.30% of the shares are owned by insiders.
Price performance of Cathay General Bancorp
Shares of NASDAQ:CATY opened Thursday at $42.89. The company has a market capitalization of $3.19 billion, a P/E of 9.53 and a beta of 1.17. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt to equity ratio of 0.21. Cathay General Bancorp has a 52-week low of $37.37 and a 52-week high of $48.88. His 50-day simple moving average for this business is $42.75 and his 200-day simple moving average is $42.49.
Cathay General Bancorp (NASDAQ:CATY – Get Rating) last reported its results on Monday, October 24th. The bank reported his earnings per share of $1.35 for the quarter, beating analysts’ consensus forecast of $1.30 for him by $0.05. Cathay General Bancorp’s return on equity was 13.93% and net profit margin was 41.20%. The company’s revenue for the quarter was $205.41 million, compared with analysts’ expectations of $205.26 million. During the same quarter last year, the company made his $0.93 earnings per share. The company’s revenue for the quarter increased 27.1% compared to the same quarter last year. Equity research analysts expect Cathay General Bancorp to post 4.9 EPS this year.
Cathay General Bancorp dividend announcement
The company recently announced a quarterly dividend, which was paid out on Friday, December 9th. A dividend of $0.34 was issued to investors of record on Tuesday, November 29th. This represents his $1.36 dividend and his 3.17% yield on an annual basis. The ex-dividend date was Monday, November 28. Cathay General Bancorp’s payout percentage is currently 30.22%.
About Cathay General Bancorp
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Cathay General Bancorp is a holding company engaged in the provision of financial services. We offer commercial mortgage loans, commercial loans, small business management loans, residential mortgage loans, real estate construction loans, home equity credit lines, and personal installment loans for auto, household and other consumer spending. increase.
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