Moody Aldrich Partners LLC Acquires 40,214 Shares of Cathay General Bancorp $CATY

by · The Cerbat Gem

Moody Aldrich Partners LLC raised its stake in shares of Cathay General Bancorp (NASDAQ:CATYFree Report) by 96.7% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 81,799 shares of the bank’s stock after purchasing an additional 40,214 shares during the period. Moody Aldrich Partners LLC’s holdings in Cathay General Bancorp were worth $3,927,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Royal Bank of Canada boosted its position in shares of Cathay General Bancorp by 25.8% during the first quarter. Royal Bank of Canada now owns 14,761 shares of the bank’s stock valued at $634,000 after buying an additional 3,030 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Cathay General Bancorp by 20.0% during the 1st quarter. AQR Capital Management LLC now owns 40,456 shares of the bank’s stock worth $1,708,000 after acquiring an additional 6,740 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Cathay General Bancorp by 1.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,395 shares of the bank’s stock worth $1,738,000 after acquiring an additional 760 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Cathay General Bancorp in the 1st quarter worth $409,000. Finally, Caxton Associates LLP purchased a new stake in shares of Cathay General Bancorp in the first quarter valued at about $316,000. 75.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Cathay General Bancorp news, Chairman Dunson K. Cheng sold 7,590 shares of the company’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $47.81, for a total transaction of $362,877.90. Following the sale, the chairman directly owned 138,360 shares of the company’s stock, valued at $6,614,991.60. This represents a 5.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Thomas M. Lo sold 1,000 shares of Cathay General Bancorp stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $46.83, for a total transaction of $46,830.00. Following the completion of the transaction, the executive vice president owned 3,000 shares of the company’s stock, valued at $140,490. The trade was a 25.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 38,755 shares of company stock valued at $1,820,148. 4.85% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on CATY shares. Keefe, Bruyette & Woods boosted their price target on shares of Cathay General Bancorp from $53.00 to $55.00 and gave the stock a “market perform” rating in a report on Wednesday, October 22nd. DA Davidson boosted their target price on Cathay General Bancorp from $51.00 to $52.00 and gave the stock a “neutral” rating in a research note on Thursday, October 23rd. Wall Street Zen raised Cathay General Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Cathay General Bancorp in a report on Monday. Two 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $50.60.

Get Our Latest Report on CATY

Cathay General Bancorp Stock Down 0.8%

Cathay General Bancorp stock opened at $48.39 on Thursday. The firm has a 50 day moving average price of $48.26 and a 200-day moving average price of $47.80. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.11. Cathay General Bancorp has a twelve month low of $36.06 and a twelve month high of $51.94. The company has a market capitalization of $3.29 billion, a P/E ratio of 11.18 and a beta of 0.88.

Cathay General Bancorp (NASDAQ:CATYGet Free Report) last posted its quarterly earnings data on Tuesday, October 21st. The bank reported $1.13 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.02). Cathay General Bancorp had a net margin of 22.26% and a return on equity of 10.60%. The firm had revenue of $210.61 million during the quarter, compared to analysts’ expectations of $202.71 million. During the same quarter in the previous year, the company posted $0.94 EPS. As a group, equities analysts predict that Cathay General Bancorp will post 4.47 EPS for the current year.

Cathay General Bancorp Dividend Announcement

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

About Cathay General Bancorp

(Free Report)

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.

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