Hillcrest Asset Management LLC decreased its position in shares of Cathay General Bancorp (NASDAQ:CATY) by 2.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 206,101 shares of the bank’s stock after selling 5,135 shares during the period. Hillcrest Asset Management LLC owned 0.26% of Cathay General Bancorp worth $8,285,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the stock. Retirement Systems of Alabama raised its holdings in Cathay General Bancorp by 1.3% during the third quarter. Retirement Systems of Alabama now owns 97,986 shares of the bank’s stock worth $3,939,000 after purchasing an additional 1,243 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in Cathay General Bancorp by 8.4% during the third quarter. BNP Paribas Arbitrage SA now owns 40,851 shares of the bank’s stock worth $1,642,000 after purchasing an additional 3,152 shares in the last quarter. Prudential Financial Inc. raised its holdings in Cathay General Bancorp by 4.6% during the third quarter. Prudential Financial Inc. now owns 1,240,295 shares of the bank’s stock worth $49,860,000 after purchasing an additional 54,780 shares in the last quarter. IndexIQ Advisors LLC raised its holdings in Cathay General Bancorp by 83.3% during the third quarter. IndexIQ Advisors LLC now owns 23,004 shares of the bank’s stock worth $925,000 after purchasing an additional 10,457 shares in the last quarter. Finally, Stevens Capital Management LP raised its holdings in Cathay General Bancorp by 152.7% during the third quarter. Stevens Capital Management LP now owns 43,914 shares of the bank’s stock worth $1,765,000 after purchasing an additional 26,535 shares in the last quarter. 67.94% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently commented on CATY shares. Keefe, Bruyette & Woods reissued a “hold” rating and set a $37.00 target price on shares of Cathay General Bancorp in a report on Tuesday, July 25th. BidaskClub cut Cathay General Bancorp from a “hold” rating to a “sell” rating in a report on Sunday, July 16th. BMO Capital Markets boosted their target price on Cathay General Bancorp from $44.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, November 3rd. Zacks Investment Research upgraded shares of Cathay General Bancorp from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research report on Wednesday, October 11th. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $43.00 price target on shares of Cathay General Bancorp in a research report on Friday, October 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. Cathay General Bancorp presently has an average rating of “Hold” and an average price target of $42.14.
Cathay General Bancorp (NASDAQ CATY) traded down $0.22 during trading on Monday, reaching $39.31. 220,900 shares of the company’s stock traded hands, compared to its average volume of 390,741. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market capitalization of $3,177.03, a price-to-earnings ratio of 15.79, a price-to-earnings-growth ratio of 1.97 and a beta of 1.34. Cathay General Bancorp has a 12-month low of $32.90 and a 12-month high of $42.64.
Cathay General Bancorp (NASDAQ:CATY) last posted its quarterly earnings results on Wednesday, October 25th. The bank reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.01. The firm had revenue of $146.20 million for the quarter, compared to analyst estimates of $135.27 million. Cathay General Bancorp had a net margin of 33.87% and a return on equity of 10.60%. The firm’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.58 earnings per share. analysts predict that Cathay General Bancorp will post 2.49 EPS for the current fiscal year.
About Cathay General Bancorp
Cathay General Bancorp is a bank holding company. The Company holds Cathay Bank, a California state-chartered commercial bank (the Bank); seven limited partnerships investing in affordable housing investments; GBC Venture Capital, Inc, and Asia Realty Corp. The Company also owns the common stock of five statutory business trusts created for issuing capital securities.
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