Cathay General Bancorp (NASDAQ:CATY) Shares Bought by Aigen Investment Management LP

Aigen Investment Management LP grew its position in Cathay General Bancorp (NASDAQ:CATY) by 11.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,108 shares of the bank’s stock after purchasing an additional 639 shares during the quarter. Aigen Investment Management LP’s holdings in Cathay General Bancorp were worth $262,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CATY. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Cathay General Bancorp during the 1st quarter worth about $946,000. SG Americas Securities LLC raised its holdings in Cathay General Bancorp by 504.2% during the second 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 in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in Cathay General Bancorp by 37.9% during 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 purchasing an additional 20,253 shares in the last quarter. Entropy Technologies LP purchased a new stake in shares of Cathay General Bancorp during the 1st quarter worth approximately $492,000. Finally, Sanctuary Advisors LLC purchased a new position in shares of Cathay General Bancorp in the 2nd quarter valued at $378,000. 75.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cathay General Bancorp

In related news, 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 value of $42,300.00. Following the sale, the executive vice president now directly owns 3,359 shares in the company, valued at $157,873. The trade was a 21.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Dunson K. Cheng sold 12,401 shares of Cathay General Bancorp stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $44.79, for a total transaction of $555,440.79. Following the transaction, the chairman now owns 149,566 shares of the company’s stock, valued at approximately $6,699,061.14. The trade was a 7.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 60,590 shares of company stock worth $3,055,488 over the last 90 days. Company insiders own 4.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. StockNews.com upgraded shares of Cathay General Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, July 19th. Wedbush upped their target price on Cathay General Bancorp from $50.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Piper Sandler lifted their price target on Cathay General Bancorp from $32.00 to $36.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 23rd. Finally, Truist Financial increased their price objective on Cathay General Bancorp from $45.00 to $47.00 and gave the company a “hold” rating in a report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Cathay General Bancorp presently has an average rating of “Hold” and a consensus target price of $44.00.

Cathay General Bancorp Stock Performance

NASDAQ CATY opened at $51.78 on Friday. The business’s 50-day moving average price is $45.11 and its 200 day moving average price is $41.26. Cathay General Bancorp has a 52-week low of $33.88 and a 52-week high of $54.07. The firm has a market cap of $3.69 billion, a P/E ratio of 13.04 and a beta of 1.10. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.07.

Cathay General Bancorp (NASDAQ:CATY) last issued 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 analysts’ expectations 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 in the previous year, the firm earned $1.13 EPS. On average, equities research analysts expect that Cathay General Bancorp will post 4 earnings per share for the current year.

Cathay General Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Wednesday, November 27th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.63%. Cathay General Bancorp’s dividend payout ratio (DPR) is currently 34.26%.

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.