Denali Advisors LLC Has $6.75 Million Position in Cathay General Bancorp $CATY

Denali Advisors LLC raised its stake in shares of Cathay General Bancorp (NASDAQ:CATY) by 0.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 148,246 shares of the bank’s stock after buying an additional 628 shares during the quarter. Denali Advisors LLC owned about 0.21% of Cathay General Bancorp worth $6,750,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CATY. Wellington Management Group LLP acquired a new position in shares of Cathay General Bancorp during the 1st quarter worth about $25,856,000. Nuveen LLC acquired a new position in shares of Cathay General Bancorp in the 1st quarter valued at approximately $23,188,000. Charles Schwab Investment Management Inc. grew its position in shares of Cathay General Bancorp by 3.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,970,173 shares of the bank’s stock valued at $127,807,000 after purchasing an additional 108,672 shares during the period. Public Sector Pension Investment Board grew its position in shares of Cathay General Bancorp by 46.4% in the 1st quarter. Public Sector Pension Investment Board now owns 259,783 shares of the bank’s stock valued at $11,178,000 after purchasing an additional 82,374 shares during the period. Finally, New Age Alpha Advisors LLC acquired a new position in shares of Cathay General Bancorp in the 1st quarter valued at approximately $3,336,000. 75.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CATY. Weiss Ratings reiterated a “buy (b-)” rating on shares of Cathay General Bancorp in a research report on Wednesday, October 8th. Wall Street Zen upgraded Cathay General Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. DA Davidson upped their price target on Cathay General Bancorp from $45.00 to $51.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 23rd. Keefe, Bruyette & Woods upped their price target on Cathay General Bancorp from $51.00 to $52.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 23rd. Finally, Stephens cut Cathay General Bancorp from an “overweight” rating to an “equal weight” rating and set a $50.00 price objective on the stock. in a research note on Monday, August 4th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Cathay General Bancorp has an average rating of “Hold” and an average price target of $50.17.

Cathay General Bancorp Trading Up 0.3%

CATY stock opened at $47.13 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.05 and a quick ratio of 1.05. The company has a fifty day moving average price of $48.64 and a two-hundred day moving average price of $45.58. Cathay General Bancorp has a one year low of $36.06 and a one year high of $55.29. The stock has a market cap of $3.26 billion, a price-to-earnings ratio of 11.38 and a beta of 0.94.

Cathay General Bancorp (NASDAQ:CATY) last released its quarterly earnings data on Tuesday, October 21st. The bank reported $1.13 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.02). The company had revenue of $210.61 million for the quarter, compared to the consensus estimate of $202.71 million. Cathay General Bancorp had a return on equity of 10.39% and a net margin of 21.44%.During the same period last year, the firm earned $0.94 earnings per share. Equities analysts anticipate that Cathay General Bancorp will post 4.47 EPS for the current year.

Cathay General Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Thursday, August 28th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Thursday, August 28th. Cathay General Bancorp’s payout ratio is presently 32.85%.

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.