XTX Topco Ltd Invests $2.52 Million in Cathay General Bancorp $CATY

XTX Topco Ltd purchased a new stake in Cathay General Bancorp (NASDAQ:CATY) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 55,248 shares of the bank’s stock, valued at approximately $2,515,000.

A number of other large investors have also recently bought and sold shares of the business. Nordea Investment Management AB boosted its stake in shares of Cathay General Bancorp by 14.8% during the second quarter. Nordea Investment Management AB now owns 174,987 shares of the bank’s stock worth $8,004,000 after buying an additional 22,558 shares during the period. Los Angeles Capital Management LLC purchased a new stake in Cathay General Bancorp during the 2nd quarter valued at approximately $485,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Cathay General Bancorp during the 2nd quarter worth approximately $1,714,000. Jupiter Asset Management Ltd. purchased a new position in shares of Cathay General Bancorp in the 2nd quarter valued at approximately $831,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Cathay General Bancorp in the 2nd quarter valued at approximately $913,000. Institutional investors and hedge funds own 75.01% of the company’s stock.

Insider Activity

In other news, EVP Thomas M. Lo sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $46.83, for a total transaction of $46,830.00. Following the completion of the transaction, the executive vice president directly owned 3,000 shares of the company’s stock, valued at $140,490. This trade represents a 25.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Dunson K. Cheng sold 7,590 shares of Cathay General Bancorp stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $47.81, for a total value of $362,877.90. Following the transaction, the chairman owned 138,360 shares of the company’s stock, valued at $6,614,991.60. This represents a 5.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 38,755 shares of company stock worth $1,820,148 over the last ninety days. 4.85% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Wall Street Zen upgraded Cathay General Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Stephens cut shares of Cathay General Bancorp from an “overweight” rating to an “equal weight” rating and set a $50.00 target price for the company. in a research note on Monday, August 4th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cathay General Bancorp in a report on Tuesday. DA Davidson increased their price target on shares of Cathay General Bancorp from $51.00 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, October 23rd. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Cathay General Bancorp from $53.00 to $55.00 and gave the company a “market perform” rating in a research report on Wednesday, October 22nd. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $50.60.

Cathay General Bancorp Stock Down 0.2%

Cathay General Bancorp stock opened at $49.13 on Thursday. Cathay General Bancorp has a fifty-two week low of $36.06 and a fifty-two week high of $53.29. The firm has a market capitalization of $3.34 billion, a price-to-earnings ratio of 11.35 and a beta of 0.97. The stock’s fifty day moving average is $47.39 and its two-hundred day moving average is $46.76. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.05 and a current ratio of 1.04.

Cathay General Bancorp (NASDAQ:CATY) last released its quarterly earnings results on Tuesday, October 21st. The bank reported $1.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.02). Cathay General Bancorp had a return on equity of 10.60% and a net margin of 22.26%.The firm had revenue of $210.61 million for the quarter, compared to analyst estimates of $202.71 million. During the same period last year, the firm earned $0.94 EPS. Analysts predict that Cathay General Bancorp will post 4.47 EPS for the current fiscal year.

Cathay General Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Monday, December 1st will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, December 1st. Cathay General Bancorp’s dividend payout ratio is 31.41%.

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.