BNP Paribas Arbitrage SA Boosts Stake in Cathay General Bancorp (CATY)

BNP Paribas Arbitrage SA lifted its position in Cathay General Bancorp (NASDAQ:CATY) by 8.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,851 shares of the bank’s stock after purchasing an additional 3,152 shares during the quarter. BNP Paribas Arbitrage SA owned 0.05% of Cathay General Bancorp worth $1,642,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Cathay General Bancorp by 9.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,029 shares of the bank’s stock worth $115,000 after purchasing an additional 252 shares in the last quarter. Flinton Capital Management LLC boosted its holdings in Cathay General Bancorp by 65.9% during the 2nd quarter. Flinton Capital Management LLC now owns 3,584 shares of the bank’s stock valued at $136,000 after acquiring an additional 1,424 shares during the period. Riverhead Capital Management LLC boosted its holdings in Cathay General Bancorp by 63.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,924 shares of the bank’s stock valued at $149,000 after acquiring an additional 1,524 shares during the period. Oakbrook Investments LLC purchased a new stake in Cathay General Bancorp during the 2nd quarter valued at about $211,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in Cathay General Bancorp during the 3rd quarter valued at about $223,000. Hedge funds and other institutional investors own 65.46% of the company’s stock.

In other news, COO Irwin Wong sold 6,059 shares of the stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $42.00, for a total value of $254,478.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.76% of the stock is currently owned by corporate insiders.

Several equities research analysts recently weighed in on the company. Zacks Investment Research cut Cathay General Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. BMO Capital Markets increased their target price on Cathay General Bancorp from $44.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, November 3rd. Royal Bank Of Canada increased their target price on Cathay General Bancorp from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, October 26th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $43.00 price target on shares of Cathay General Bancorp in a research report on Friday, October 6th. Finally, BidaskClub lowered Cathay General Bancorp from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Cathay General Bancorp currently has an average rating of “Hold” and a consensus target price of $42.14.

Cathay General Bancorp (NASDAQ:CATY) opened at $41.92 on Friday. The company has a market capitalization of $3,387.97, a P/E ratio of 16.84, a price-to-earnings-growth ratio of 2.10 and a beta of 1.34. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.37. Cathay General Bancorp has a 52-week low of $34.00 and a 52-week high of $42.65.

Cathay General Bancorp (NASDAQ:CATY) last released its quarterly earnings results on Wednesday, October 25th. The bank reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. Cathay General Bancorp had a return on equity of 10.60% and a net margin of 33.87%. The business had revenue of $146.20 million during the quarter, compared to analyst estimates of $135.27 million. During the same quarter in the prior year, the company posted $0.58 EPS. Cathay General Bancorp’s quarterly revenue was up 29.8% compared to the same quarter last year. equities research analysts forecast that Cathay General Bancorp will post 2.49 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, December 1st will be given a $0.24 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.96 annualized dividend and a dividend yield of 2.29%. This is a positive change from Cathay General Bancorp’s previous quarterly dividend of $0.21. Cathay General Bancorp’s dividend payout ratio is currently 34.15%.

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Cathay General Bancorp Profile

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.

Institutional Ownership by Quarter for Cathay General Bancorp (NASDAQ:CATY)

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