Cathay General Bancorp (CATY) Shares Sold by Systematic Financial Management LP

Systematic Financial Management LP trimmed its holdings in shares of Cathay General Bancorp (NASDAQ:CATY) by 22.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 58,025 shares of the bank’s stock after selling 16,825 shares during the period. Systematic Financial Management LP owned approximately 0.07% of Cathay General Bancorp worth $2,447,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of CATY. BlackRock Inc. raised its position in shares of Cathay General Bancorp by 1.3% during the fourth quarter. BlackRock Inc. now owns 8,862,311 shares of the bank’s stock worth $373,722,000 after purchasing an additional 112,337 shares during the period. Bank of New York Mellon Corp raised its position in shares of Cathay General Bancorp by 0.5% during the third quarter. Bank of New York Mellon Corp now owns 1,469,247 shares of the bank’s stock worth $59,065,000 after purchasing an additional 7,251 shares during the period. Prudential Financial Inc. raised its position in shares of 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 during the period. Ameriprise Financial Inc. raised its position in shares of Cathay General Bancorp by 2.5% during the third quarter. Ameriprise Financial Inc. now owns 971,119 shares of the bank’s stock worth $39,038,000 after purchasing an additional 23,732 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of Cathay General Bancorp by 6.0% during the third quarter. JPMorgan Chase & Co. now owns 716,926 shares of the bank’s stock worth $28,834,000 after purchasing an additional 40,412 shares during the period. Hedge funds and other institutional investors own 67.34% of the company’s stock.

A number of equities analysts have recently weighed in on CATY shares. BMO Capital Markets reaffirmed a “hold” rating and set a $46.00 target price on shares of Cathay General Bancorp in a research report on Wednesday, December 20th. Zacks Investment Research raised Cathay General Bancorp from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research report on Monday, October 30th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $51.00 target price on shares of Cathay General Bancorp in a research report on Tuesday, January 9th. Sandler O’Neill reaffirmed a “hold” rating and set a $45.00 target price on shares of Cathay General Bancorp in a research report on Thursday, January 4th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $44.00 target price on shares of Cathay General Bancorp in a research report on Friday, December 22nd. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $45.13.

In other news, EVP Kim R. Bingham sold 3,800 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $44.71, for a total value of $169,898.00. Following the completion of the sale, the executive vice president now owns 21,803 shares of the company’s stock, valued at $974,812.13. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Vice Chairman Peter Wu sold 33,045 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $44.36, for a total transaction of $1,465,876.20. Following the completion of the sale, the insider now directly owns 12,976 shares of the company’s stock, valued at approximately $575,615.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 116,845 shares of company stock valued at $5,027,674. Company insiders own 5.76% of the company’s stock.

Shares of Cathay General Bancorp (NASDAQ CATY) opened at $42.73 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.04 and a quick ratio of 1.04. Cathay General Bancorp has a 12-month low of $34.00 and a 12-month high of $45.59. The company has a market capitalization of $3,416.94, a price-to-earnings ratio of 19.60, a P/E/G ratio of 1.67 and a beta of 1.38.

Cathay General Bancorp (NASDAQ:CATY) last released its quarterly earnings data on Tuesday, January 30th. The bank reported $0.61 EPS for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.02). Cathay General Bancorp had a return on equity of 10.47% and a net margin of 28.74%. The company had revenue of $143.51 million for the quarter, compared to the consensus estimate of $139.43 million. During the same period last year, the firm earned $0.60 earnings per share. The company’s revenue for the quarter was up 21.8% compared to the same quarter last year. equities analysts anticipate that Cathay General Bancorp will post 3.15 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Thursday, March 1st will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $0.96 dividend on an annualized basis and a yield of 2.25%. Cathay General Bancorp’s dividend payout ratio (DPR) is 44.04%.

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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.

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

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