Cathay General Bancorp (NASDAQ:CATY) Shares Sold by Coldstream Capital Management Inc.

Coldstream Capital Management Inc. cut its holdings in Cathay General Bancorp (NASDAQ:CATY) by 10.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 9,381 shares of the bank’s stock after selling 1,099 shares during the period. Coldstream Capital Management Inc.’s holdings in Cathay General Bancorp were worth $403,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. CWM LLC increased its stake in Cathay General Bancorp by 168.6% in the second quarter. CWM LLC now owns 1,265 shares of the bank’s stock valued at $48,000 after purchasing an additional 794 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Cathay General Bancorp by 504.2% during the 2nd quarter. SG Americas Securities LLC now owns 24,568 shares of the bank’s stock valued at $927,000 after acquiring an additional 20,502 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Cathay General Bancorp during the 2nd quarter worth about $2,752,000. SummerHaven Investment Management LLC boosted its position in shares of Cathay General Bancorp by 1.9% in the second quarter. SummerHaven Investment Management LLC now owns 22,334 shares of the bank’s stock worth $842,000 after acquiring an additional 417 shares during the last quarter. Finally, Louisiana State Employees Retirement System grew its holdings in Cathay General Bancorp by 1.7% in the second quarter. Louisiana State Employees Retirement System now owns 36,600 shares of the bank’s stock valued at $1,381,000 after purchasing an additional 600 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 Cathay General Bancorp news, EVP Thomas M. Lo sold 900 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $47.00, for a total value of $42,300.00. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Vice Chairman Peter Wu sold 40,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $52.87, for a total value of $2,114,800.00. Following the transaction, the insider now owns 295,252 shares of the company’s stock, valued at approximately $15,609,973.24. This trade represents a 11.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,189 shares of company stock valued at $2,500,047. Corporate insiders own 4.76% of the company’s stock.

Cathay General Bancorp Stock Performance

NASDAQ:CATY opened at $50.57 on Friday. The firm’s fifty day simple moving average is $48.79 and its 200 day simple moving average is $43.36. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.07. Cathay General Bancorp has a twelve month low of $33.88 and a twelve month high of $55.29. The firm has a market capitalization of $3.60 billion, a price-to-earnings ratio of 12.74 and a beta of 1.12.

Cathay General Bancorp (NASDAQ:CATY) last issued its quarterly earnings data on Monday, October 21st. The bank reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). Cathay General Bancorp had a return on equity of 11.30% and a net margin of 20.57%. The company had revenue of $359.86 million for the quarter, compared to analyst estimates of $182.70 million. During the same quarter in the prior year, the firm earned $1.13 EPS. As a group, equities research analysts expect that Cathay General Bancorp will post 3.99 earnings per share for the current fiscal year.

Cathay General Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Wednesday, November 27th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.69%. Cathay General Bancorp’s dividend payout ratio is currently 34.26%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CATY shares. Truist Financial increased their price target on shares of Cathay General Bancorp from $45.00 to $47.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Keefe, Bruyette & Woods increased their target price on Cathay General Bancorp from $45.00 to $56.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Stephens raised Cathay General Bancorp from an “equal weight” rating to an “overweight” rating in a research report on Monday, December 9th. Finally, Wedbush raised their price objective on Cathay General Bancorp from $50.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Cathay General Bancorp presently has a consensus rating of “Hold” and an average price target of $47.75.

Cathay General Bancorp 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.