Cathay General Bancorp (NASDAQ:CATY) Shares Purchased by Stieven Capital Advisors L.P.

Stieven Capital Advisors L.P. increased its stake in shares of Cathay General Bancorp (NASDAQ:CATY) by 39.3% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 256,404 shares of the bank’s stock after acquiring an additional 72,300 shares during the period. Cathay General Bancorp makes up approximately 2.1% of Stieven Capital Advisors L.P.’s holdings, making the stock its 18th largest holding. Stieven Capital Advisors L.P. owned about 0.36% of Cathay General Bancorp worth $11,013,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quarry LP raised its position in shares of Cathay General Bancorp by 76.3% in the 2nd quarter. Quarry LP now owns 765 shares of the bank’s stock valued at $29,000 after purchasing an additional 331 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Cathay General Bancorp in the 2nd quarter valued at approximately $40,000. CWM LLC raised its position in shares of Cathay General Bancorp by 168.6% in the 2nd quarter. CWM LLC now owns 1,265 shares of the bank’s stock valued at $48,000 after purchasing an additional 794 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Cathay General Bancorp by 24.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,531 shares of the bank’s stock valued at $66,000 after purchasing an additional 305 shares in the last quarter. Finally, Bessemer Group Inc. raised its position in shares of Cathay General Bancorp by 16.6% in the 1st quarter. Bessemer Group Inc. now owns 3,675 shares of the bank’s stock valued at $139,000 after purchasing an additional 523 shares in the last quarter. 75.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Vice Chairman Peter Wu sold 40,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $52.87, for a total transaction of $2,114,800.00. Following the completion of the transaction, the insider now directly owns 295,252 shares in the company, valued at $15,609,973.24. This represents a 11.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Dunson K. Cheng sold 12,401 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $44.79, for a total value of $555,440.79. Following the transaction, the chairman now owns 149,566 shares of the company’s stock, valued at approximately $6,699,061.14. The trade was a 7.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 60,590 shares of company stock worth $3,055,488 in the last three months. 4.76% of the stock is owned by insiders.

Analysts Set New Price Targets

CATY has been the topic of a number of recent analyst reports. Truist Financial upped their target price on Cathay General Bancorp from $45.00 to $47.00 and gave the company a “hold” rating in a research report on Friday, September 20th. Wedbush upped their target price on Cathay General Bancorp from $50.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Piper Sandler upped their price target on Cathay General Bancorp from $32.00 to $36.00 and gave the company an “underweight” rating in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $44.00.

Cathay General Bancorp Stock Performance

CATY stock opened at $51.78 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.07. The firm has a market cap of $3.69 billion, a P/E ratio of 13.04 and a beta of 1.10. Cathay General Bancorp has a 12-month low of $33.88 and a 12-month high of $54.07. The stock’s 50 day simple moving average is $45.11 and its 200 day simple moving average is $41.31.

Cathay General Bancorp (NASDAQ:CATY) last posted its quarterly earnings results on Monday, October 21st. The bank reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.01). The firm had revenue of $359.86 million for the quarter, compared to analyst estimates of $182.70 million. Cathay General Bancorp had a net margin of 20.57% and a return on equity of 11.30%. During the same period in the prior year, the company posted $1.13 earnings per share. As a group, equities research analysts predict that Cathay General Bancorp will post 4 EPS for the current year.

Cathay General Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Wednesday, November 27th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.63%. Cathay General Bancorp’s 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.