Natixis Advisors LLC Invests $512,000 in Cathay General Bancorp (NASDAQ:CATY)

Natixis Advisors LLC acquired a new position in shares of Cathay General Bancorp (NASDAQ:CATY) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 11,914 shares of the bank’s stock, valued at approximately $512,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Access Investment Management LLC lifted its position in Cathay General Bancorp by 1.1% during the second quarter. Access Investment Management LLC now owns 20,520 shares of the bank’s stock valued at $774,000 after purchasing an additional 225 shares during the period. CWM LLC lifted its position in Cathay General Bancorp by 19.9% during the third quarter. CWM LLC now owns 1,517 shares of the bank’s stock valued at $65,000 after purchasing an additional 252 shares during the period. GAMMA Investing LLC lifted its position in Cathay General Bancorp by 24.9% during the third quarter. GAMMA Investing LLC now owns 1,531 shares of the bank’s stock valued at $66,000 after purchasing an additional 305 shares during the period. Quarry LP lifted its position in Cathay General Bancorp by 76.3% during the second quarter. Quarry LP now owns 765 shares of the bank’s stock valued at $29,000 after purchasing an additional 331 shares during the period. Finally, Arizona State Retirement System lifted its position in Cathay General Bancorp by 1.9% during the second quarter. Arizona State Retirement System now owns 19,327 shares of the bank’s stock valued at $729,000 after purchasing an additional 360 shares during the period. 75.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cathay General Bancorp

In other news, Vice Chairman Peter Wu sold 40,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $52.87, for a total transaction of $2,114,800.00. Following the completion of the sale, the insider now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Thomas M. Lo sold 900 shares of the business’s stock in a transaction dated 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 directly owns 3,359 shares of the company’s stock, valued at $157,873. This represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 48,189 shares of company stock valued at $2,500,047 over the last 90 days. Corporate insiders own 4.76% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on CATY. Truist Financial upped their price objective on shares of Cathay General Bancorp from $45.00 to $47.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. Wedbush upped their price objective on shares of Cathay General Bancorp from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $44.00.

Cathay General Bancorp Trading Down 1.2 %

Shares of Cathay General Bancorp stock opened at $52.31 on Friday. The firm has a 50-day simple moving average of $46.68 and a two-hundred day simple moving average of $42.17. The company has a market cap of $3.72 billion, a P/E ratio of 13.18 and a beta of 1.10. Cathay General Bancorp has a fifty-two week low of $33.88 and a fifty-two week high of $55.29. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.03 and a current ratio of 1.03.

Cathay General Bancorp (NASDAQ:CATY) last released 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 company had revenue of $359.86 million for the quarter, compared to analysts’ expectations of $182.70 million. Cathay General Bancorp had a return on equity of 11.30% and a net margin of 20.57%. During the same period in the prior year, the firm earned $1.13 EPS. As a group, equities analysts predict that Cathay General Bancorp will post 3.99 earnings per share for the current fiscal year.

Cathay General Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Wednesday, November 27th will be paid a dividend of $0.34 per share. The ex-dividend date is Wednesday, November 27th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.60%. Cathay General Bancorp’s dividend payout ratio is currently 34.26%.

About Cathay General Bancorp

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.