Cathay General Bancorp (NASDAQ:CATY) Shares Purchased by Rafferty Asset Management LLC

Rafferty Asset Management LLC increased its position in shares of Cathay General Bancorp (NASDAQ:CATY) by 16.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 59,026 shares of the bank’s stock after buying an additional 8,459 shares during the quarter. Rafferty Asset Management LLC owned about 0.07% of Cathay General Bancorp worth $2,323,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. The PNC Financial Services Group Inc. boosted its holdings in shares of Cathay General Bancorp by 2.7% in the first quarter. The PNC Financial Services Group Inc. now owns 9,507 shares of the bank’s stock valued at $388,000 after acquiring an additional 250 shares during the period. GW Henssler & Associates Ltd. increased its holdings in shares of Cathay General Bancorp by 3.1% in the 2nd quarter. GW Henssler & Associates Ltd. now owns 9,471 shares of the bank’s stock valued at $373,000 after acquiring an additional 282 shares during the period. Thrivent Financial for Lutherans raised its position in Cathay General Bancorp by 1.5% in the 1st quarter. Thrivent Financial for Lutherans now owns 19,920 shares of the bank’s stock valued at $812,000 after purchasing an additional 287 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in Cathay General Bancorp by 91.5% during the 1st quarter. First Horizon Advisors Inc. now owns 653 shares of the bank’s stock worth $26,000 after purchasing an additional 312 shares during the period. Finally, Jane Street Group LLC grew its position in Cathay General Bancorp by 5.4% during the 1st quarter. Jane Street Group LLC now owns 7,404 shares of the bank’s stock worth $302,000 after purchasing an additional 377 shares during the last quarter. 68.73% of the stock is currently owned by institutional investors.

Several brokerages have recently weighed in on CATY. DA Davidson reiterated a “neutral” rating on shares of Cathay General Bancorp in a research note on Wednesday, July 28th. Truist increased their price objective on Cathay General Bancorp from $40.00 to $44.00 and gave the stock a “hold” rating in a research report on Monday, August 30th. Zacks Investment Research raised Cathay General Bancorp from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a report on Wednesday, September 1st. Finally, Truist Securities increased their price target on Cathay General Bancorp from $40.00 to $44.00 and gave the stock a “hold” rating in a report on Monday, August 30th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $45.00.

NASDAQ CATY opened at $39.78 on Friday. The stock has a market capitalization of $3.11 billion, a price-to-earnings ratio of 11.40 and a beta of 1.51. The business’s 50 day moving average is $38.85 and its two-hundred day moving average is $40.35. Cathay General Bancorp has a 12-month low of $20.59 and a 12-month high of $45.19. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.07.

Cathay General Bancorp (NASDAQ:CATY) last announced its quarterly earnings data on Sunday, July 25th. The bank reported $0.97 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.14. Cathay General Bancorp had a return on equity of 11.47% and a net margin of 39.05%. The firm had revenue of $160.58 million for the quarter, compared to analyst estimates of $156.05 million. Equities analysts forecast that Cathay General Bancorp will post 3.72 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 9th. Investors of record on Monday, August 30th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 3.12%. The ex-dividend date was Friday, August 27th. Cathay General Bancorp’s dividend payout ratio (DPR) is 43.21%.

In other Cathay General Bancorp news, Vice Chairman Peter Wu sold 20,000 shares of the company’s stock in a transaction dated Friday, August 27th. The shares were sold at an average price of $39.74, for a total transaction of $794,800.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.23% of the stock is owned by company insiders.

Cathay General Bancorp Company Profile

Cathay General Bancorp is a holding company, which engages in the provision of financial services. It offers commercial mortgage loans, commercial loans, small business administration loans, residential mortgage loans, real estate construction loans, home equity lines of credit, and installment loans to individuals for automobile, household, and other consumer expenditures.

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

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