WINTON GROUP Ltd Acquires New Holdings in Cathay General Bancorp $CATY

WINTON GROUP Ltd purchased a new position in Cathay General Bancorp (NASDAQ:CATYFree Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 15,246 shares of the bank’s stock, valued at approximately $738,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in Cathay General Bancorp by 39.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 150,601 shares of the bank’s stock worth $7,230,000 after buying an additional 42,868 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Cathay General Bancorp by 1,274,076.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 484,187 shares of the bank’s stock worth $23,430,000 after buying an additional 484,149 shares in the last quarter. Public Sector Pension Investment Board lifted its holdings in shares of Cathay General Bancorp by 8.8% in the 3rd quarter. Public Sector Pension Investment Board now owns 305,043 shares of the bank’s stock worth $14,645,000 after acquiring an additional 24,615 shares during the last quarter. Convergence Investment Partners LLC bought a new stake in shares of Cathay General Bancorp in the 4th quarter worth approximately $1,505,000. Finally, Cibc World Market Inc. bought a new stake in shares of Cathay General Bancorp in the 4th quarter worth approximately $6,355,000. Hedge funds and other institutional investors own 75.01% of the company’s stock.

Analysts Set New Price Targets

CATY has been the subject of a number of recent research reports. Keefe, Bruyette & Woods boosted their price objective on shares of Cathay General Bancorp from $55.00 to $58.00 and gave the stock a “market perform” rating in a report on Thursday, April 23rd. Piper Sandler boosted their price objective on shares of Cathay General Bancorp from $45.00 to $47.00 and gave the stock an “underweight” rating in a report on Monday, April 27th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $51.75.

View Our Latest Research Report on Cathay General Bancorp

Cathay General Bancorp Trading Up 0.7%

NASDAQ:CATY opened at $59.49 on Thursday. The company has a fifty day moving average of $55.45 and a 200 day moving average of $52.08. Cathay General Bancorp has a 52 week low of $42.01 and a 52 week high of $60.08. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $3.99 billion, a P/E ratio of 12.27 and a beta of 0.86.

Cathay General Bancorp (NASDAQ:CATYGet Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The bank reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.10. Cathay General Bancorp had a net margin of 23.79% and a return on equity of 11.37%. The company had revenue of $213.20 million during the quarter, compared to analyst estimates of $211.27 million. During the same period in the prior year, the business posted $0.98 EPS. The firm’s revenue was up 14.4% compared to the same quarter last year. On average, research analysts predict that Cathay General Bancorp will post 5.4 earnings per share for the current year.

Cathay General Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Thursday, May 28th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Thursday, May 28th. Cathay General Bancorp’s dividend payout ratio (DPR) is currently 31.34%.

Cathay General Bancorp announced that its Board of Directors has authorized a share repurchase plan on Thursday, April 23rd that authorizes the company to buyback $150,000.00 billion in outstanding shares. This buyback authorization authorizes the bank to reacquire up to 4,164,630.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.

Insider Transactions at Cathay General Bancorp

In other news, CEO Chang Liu sold 4,836 shares of Cathay General Bancorp stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $50.35, for a total value of $243,492.60. Following the sale, the chief executive officer directly owned 127,819 shares in the company, valued at approximately $6,435,686.65. This trade represents a 3.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Vice Chairman Peter Wu sold 20,000 shares of Cathay General Bancorp stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $57.33, for a total value of $1,146,600.00. Following the completion of the sale, the insider owned 275,252 shares in the company, valued at approximately $15,780,197.16. This represents a 6.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 25,394 shares of company stock worth $1,421,341. 4.53% of the stock is currently owned by insiders.

Cathay General Bancorp Company Profile

(Free Report)

Cathay General Bancorp is a bank holding company headquartered in Los Angeles, California, trading on NASDAQ under the symbol CATY. Its principal subsidiary, Cathay Bank, provides a full suite of financial services to commercial, institutional and retail clients. As a community-focused institution, the company emphasizes relationship banking and tailored solutions for businesses and individuals.

Founded in 1962 by a group of Chinese American entrepreneurs, Cathay has expanded from a single branch operation in downtown Los Angeles into one of the largest Asian-American banks in the United States.

See Also

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

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