Cathay General Bancorp (NASDAQ:CATY) Shares Sold by GSA Capital Partners LLP

GSA Capital Partners LLP decreased its stake in shares of Cathay General Bancorp (NASDAQ:CATY - Free Report) by 50.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,176 shares of the bank's stock after selling 11,353 shares during the period. GSA Capital Partners LLP's holdings in Cathay General Bancorp were worth $480,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of CATY. Russell Investments Group Ltd. lifted its position in Cathay General Bancorp by 25.6% during the 1st quarter. Russell Investments Group Ltd. now owns 36,414 shares of the bank's stock valued at $1,378,000 after acquiring an additional 7,430 shares during the period. ProShare Advisors LLC boosted its position in shares of Cathay General Bancorp by 7.3% in the first quarter. ProShare Advisors LLC now owns 14,089 shares of the bank's stock worth $533,000 after purchasing an additional 960 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in shares of Cathay General Bancorp by 37.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 73,644 shares of the bank's stock worth $2,542,000 after buying an additional 20,253 shares in the last quarter. O Shaughnessy Asset Management LLC raised its stake in Cathay General Bancorp by 25.5% during the first quarter. O Shaughnessy Asset Management LLC now owns 15,589 shares of the bank's stock valued at $590,000 after purchasing an additional 3,165 shares in the last quarter. Finally, Bessemer Group Inc. raised its stake in Cathay General Bancorp by 16.6% during the first quarter. Bessemer Group Inc. now owns 3,675 shares of the bank's stock valued at $139,000 after purchasing an additional 523 shares in the last quarter. Institutional investors own 75.01% of the company's stock.

Cathay General Bancorp Stock Down 0.4 %

Cathay General Bancorp stock traded down $0.22 during midday trading on Wednesday, hitting $50.75. 228,619 shares of the company's stock were exchanged, compared to its average volume of 326,345. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.03 and a current ratio of 1.03. Cathay General Bancorp has a 12 month low of $33.88 and a 12 month high of $54.07. The firm has a 50-day moving average of $45.67 and a two-hundred day moving average of $41.63. The company has a market cap of $3.61 billion, a PE ratio of 12.78 and a beta of 1.10.

Cathay General Bancorp (NASDAQ:CATY - Get Free Report) last released its quarterly earnings results on Monday, October 21st. The bank reported $0.94 earnings per share for the quarter, missing analysts' consensus estimates of $0.95 by ($0.01). Cathay General Bancorp had a net margin of 20.57% and a return on equity of 11.30%. The firm had revenue of $359.86 million during the quarter, compared to the consensus estimate of $182.70 million. During the same quarter in the prior year, the business posted $1.13 earnings per share. As a group, analysts expect that Cathay General Bancorp will post 4 earnings per share for the current fiscal year.

Cathay General Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Wednesday, November 27th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.68%. The ex-dividend date is Wednesday, November 27th. Cathay General Bancorp's payout ratio is currently 34.26%.

Insiders Place Their Bets

In other Cathay General Bancorp news, Vice Chairman Peter Wu sold 40,000 shares of Cathay General Bancorp stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $52.87, for a total transaction of $2,114,800.00. Following the sale, the insider now owns 295,252 shares of the company's stock, valued at $15,609,973.24. The trade was a 11.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Thomas M. Lo sold 900 shares of the business's stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $47.00, for a total transaction of $42,300.00. Following the completion of the sale, the executive vice president now owns 3,359 shares in the company, valued at approximately $157,873. This trade represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 60,590 shares of company stock valued at $3,055,488. 4.76% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Piper Sandler increased their target price on shares of Cathay General Bancorp from $32.00 to $36.00 and gave the company an "underweight" rating in a research note on Tuesday, July 23rd. Wedbush increased their target price on shares of Cathay General Bancorp from $50.00 to $52.00 and gave the company an "outperform" rating in a research note on Wednesday, October 23rd. Finally, Truist Financial increased their target price on shares of Cathay General Bancorp from $45.00 to $47.00 and gave the company a "hold" rating in a research note on Friday, September 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Cathay General Bancorp presently has an average rating of "Hold" and a consensus target price of $44.00.

Cathay General Bancorp Company 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.