Jane Street Group LLC Buys 24,529 Shares of Cathay General Bancorp (NASDAQ:CATY)

Jane Street Group LLC boosted its position in Cathay General Bancorp (NASDAQ:CATY - Free Report) by 37.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 90,419 shares of the bank's stock after purchasing an additional 24,529 shares during the quarter. Jane Street Group LLC owned about 0.13% of Cathay General Bancorp worth $3,883,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quarry LP increased its holdings in shares of Cathay General Bancorp by 76.3% during the second quarter. Quarry LP now owns 765 shares of the bank's stock valued at $29,000 after purchasing an additional 331 shares during the period. Quest Partners LLC acquired a new position in Cathay General Bancorp during the 2nd quarter valued at about $40,000. CWM LLC raised its position in shares of Cathay General Bancorp by 168.6% during the 2nd quarter. CWM LLC now owns 1,265 shares of the bank's stock worth $48,000 after buying an additional 794 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Cathay General Bancorp by 24.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,531 shares of the bank's stock worth $66,000 after acquiring an additional 305 shares during the period. Finally, CIBC Asset Management Inc bought a new position in shares of Cathay General Bancorp in the third quarter valued at approximately $201,000. 75.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Keefe, Bruyette & Woods boosted their target price on Cathay General Bancorp from $45.00 to $56.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. Truist Financial upped their price target on Cathay General Bancorp from $45.00 to $47.00 and gave the company a "hold" rating in a report on Friday, September 20th. Wedbush raised their price objective on Cathay General Bancorp from $50.00 to $52.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 23rd. Finally, Stephens upgraded Cathay General Bancorp from an "equal weight" rating to an "overweight" rating in a report on Monday, December 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Cathay General Bancorp has a consensus rating of "Hold" and a consensus price target of $47.75.

Insider Transactions at Cathay General Bancorp

In related news, EVP Thomas M. Lo sold 900 shares of the business's stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $47.00, for a total value of $42,300.00. Following the completion of the sale, the executive vice president now owns 3,359 shares of the company's stock, valued at approximately $157,873. The trade was a 21.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Vice Chairman Peter Wu sold 40,000 shares of the firm's stock in a transaction that occurred 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 transaction, the insider now directly owns 295,252 shares in the company, valued at approximately $15,609,973.24. The trade was a 11.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 48,189 shares of company stock valued at $2,500,047 over the last three months. 4.76% of the stock is owned by corporate insiders.

Cathay General Bancorp Trading Down 0.4 %

Shares of CATY stock traded down $0.21 during trading hours on Thursday, reaching $47.02. 433,697 shares of the stock traded hands, compared to its average volume of 328,329. The business has a fifty day moving average price of $49.30 and a 200 day moving average price of $43.66. Cathay General Bancorp has a 1-year low of $33.88 and a 1-year high of $55.29. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $3.35 billion, a PE ratio of 11.84 and a beta of 1.12.

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 (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.01). The firm had revenue of $359.86 million for 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 period last year, the firm earned $1.13 earnings per share. On average, equities research analysts forecast that Cathay General Bancorp will post 3.99 EPS for the current year.

Cathay General Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Wednesday, November 27th were issued a $0.34 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.89%. Cathay General Bancorp's dividend payout ratio is 34.26%.

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.