Barclays PLC increased its holdings in Cathay General Bancorp (NASDAQ:CATY - Free Report) by 104.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 145,690 shares of the bank's stock after buying an additional 74,394 shares during the quarter. Barclays PLC owned 0.20% of Cathay General Bancorp worth $6,257,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. American Century Companies Inc. grew its stake in shares of Cathay General Bancorp by 19.8% during the 2nd quarter. American Century Companies Inc. now owns 1,262,970 shares of the bank's stock valued at $47,639,000 after acquiring an additional 208,599 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Cathay General Bancorp by 4.4% during the second quarter. Dimensional Fund Advisors LP now owns 4,194,232 shares of the bank's stock valued at $158,206,000 after purchasing an additional 176,215 shares in the last quarter. Foundry Partners LLC bought a new position in shares of Cathay General Bancorp in the third quarter worth approximately $7,493,000. Pure Portfolios Holdings LLC purchased a new stake in shares of Cathay General Bancorp in the third quarter worth $6,271,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Cathay General Bancorp by 3.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,758,777 shares of the bank's stock valued at $118,489,000 after purchasing an additional 87,847 shares during the period. 75.01% of the stock is currently owned by institutional investors.
Shares of CATY stock opened at $47.02 on Friday. The stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of 11.84 and a beta of 1.12. The stock's 50-day moving average price is $49.30 and its 200-day moving average price is $43.66. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.07. Cathay General Bancorp has a 12-month low of $33.88 and a 12-month high of $55.29.
Cathay General Bancorp (NASDAQ:CATY - Get Free Report) last posted its earnings results on Monday, October 21st. The bank reported $0.94 EPS for the quarter, missing analysts' consensus estimates of $0.95 by ($0.01). The firm had revenue of $359.86 million for the quarter, compared to the consensus estimate 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 in the prior year, the company posted $1.13 earnings per share. Equities research analysts predict that Cathay General Bancorp will post 3.99 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Wednesday, November 27th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend was Wednesday, November 27th. Cathay General Bancorp's dividend payout ratio is 34.26%.
In related news, EVP Thomas M. Lo sold 900 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $47.00, for a total transaction of $42,300.00. Following the sale, the executive vice president now owns 3,359 shares in the company, valued at approximately $157,873. This represents a 21.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Peter Wu sold 40,000 shares of Cathay General Bancorp stock in a transaction on Wednesday, November 6th. The stock was 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 of the company's stock, valued at $15,609,973.24. The trade was a 11.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,189 shares of company stock valued at $2,500,047. Insiders own 4.76% of the company's stock.
A number of brokerages have issued reports on CATY. Wedbush increased their price target 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. Stephens upgraded Cathay General Bancorp from an "equal weight" rating to an "overweight" rating in a research report on Monday, December 9th. Keefe, Bruyette & Woods boosted their price target 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. Finally, Truist Financial increased their price objective on shares of Cathay General Bancorp from $45.00 to $47.00 and gave the company a "hold" rating in a report on Friday, September 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $47.75.
View Our Latest Analysis on CATY
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.
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