Cathay General Bancorp (NASDAQ:CATY) Shares Bought by Algert Global LLC

Algert Global LLC raised its position in Cathay General Bancorp (NASDAQ:CATY - Free Report) by 23.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 76,576 shares of the bank's stock after purchasing an additional 14,590 shares during the quarter. Algert Global LLC owned 0.11% of Cathay General Bancorp worth $3,289,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its position in Cathay General Bancorp by 504.2% in the 2nd quarter. SG Americas Securities LLC now owns 24,568 shares of the bank's stock worth $927,000 after purchasing an additional 20,502 shares during the period. Sanctuary Advisors LLC purchased a new stake in Cathay General Bancorp in the 2nd quarter worth about $378,000. AQR Capital Management LLC raised its position in Cathay General Bancorp by 39.4% in the 2nd quarter. AQR Capital Management LLC now owns 29,804 shares of the bank's stock worth $1,124,000 after purchasing an additional 8,429 shares during the period. Choreo LLC purchased a new stake in Cathay General Bancorp in the 2nd quarter worth about $499,000. Finally, CWA Asset Management Group LLC purchased a new stake in Cathay General Bancorp in the 3rd quarter worth about $671,000. 75.01% of the stock is owned by hedge funds and other institutional investors.

Cathay General Bancorp Trading Down 1.7 %

CATY stock traded down $0.93 during mid-day trading on Tuesday, reaching $52.92. The company had a trading volume of 243,066 shares, compared to its average volume of 324,880. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a 50 day moving average of $46.30 and a 200 day moving average of $41.99. Cathay General Bancorp has a 12 month low of $33.88 and a 12 month high of $55.29. The company has a market capitalization of $3.77 billion, a PE ratio of 13.33 and a beta of 1.10.

Cathay General Bancorp (NASDAQ:CATY - Get Free Report) last announced its earnings results on Monday, October 21st. The bank reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.01). The firm had revenue of $359.86 million during the quarter, compared to analyst estimates of $182.70 million. Cathay General Bancorp had a net margin of 20.57% and a return on equity of 11.30%. During the same quarter last year, the business earned $1.13 earnings per share. On average, equities analysts predict that Cathay General Bancorp will post 3.99 earnings per share for the current fiscal year.

Cathay General Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Wednesday, November 27th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.36 annualized dividend and a yield of 2.57%. Cathay General Bancorp's dividend payout ratio (DPR) is 34.26%.

Insider Buying and Selling at Cathay General Bancorp

In other Cathay General Bancorp news, EVP Thomas M. Lo sold 900 shares of the firm's stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $47.00, for a total value of $42,300.00. Following the completion of the transaction, the executive vice president now owns 3,359 shares of the company's stock, valued at approximately $157,873. This trade represents a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Vice Chairman Peter Wu sold 7,289 shares of the firm's stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $47.05, for a total transaction of $342,947.45. Following the transaction, the insider now directly owns 347,963 shares of the company's stock, valued at approximately $16,371,659.15. This trade represents a 2.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 48,189 shares of company stock worth $2,500,047 over the last three months. Corporate insiders own 4.76% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CATY. Truist Financial increased their price objective on shares of Cathay General Bancorp from $45.00 to $47.00 and gave the stock a "hold" rating in a research report on Friday, September 20th. Wedbush upped their target price on shares of Cathay General Bancorp from $50.00 to $52.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $44.00.

Cathay General Bancorp Profile

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.