AlphaMark Advisors LLC Sells 822 Shares of Cathay General Bancorp (NASDAQ:CATY)

AlphaMark Advisors LLC lowered its holdings in shares of Cathay General Bancorp (NASDAQ:CATY) by 9.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 7,901 shares of the bank’s stock after selling 822 shares during the quarter. AlphaMark Advisors LLC’s holdings in Cathay General Bancorp were worth $339,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Quarry LP boosted 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 buying an additional 331 shares during the period. Quest Partners LLC purchased a new stake in Cathay General Bancorp during the 2nd quarter valued at about $40,000. CWM LLC grew its position in Cathay General Bancorp by 168.6% during the 2nd quarter. CWM LLC now owns 1,265 shares of the bank’s stock worth $48,000 after acquiring an additional 794 shares during the last quarter. GAMMA Investing LLC increased its stake in Cathay General Bancorp by 24.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,531 shares of the bank’s stock worth $66,000 after purchasing an additional 305 shares during the period. Finally, Bessemer Group Inc. lifted its position in Cathay General Bancorp by 16.6% in the first quarter. Bessemer Group Inc. now owns 3,675 shares of the bank’s stock valued at $139,000 after purchasing an additional 523 shares during the last quarter. Hedge funds and other institutional investors own 75.01% of the company’s stock.

Cathay General Bancorp Stock Down 1.2 %

Shares of Cathay General Bancorp stock opened at $46.04 on Friday. The company’s fifty day simple moving average is $42.95 and its two-hundred day simple moving average is $39.51. Cathay General Bancorp has a 12-month low of $32.08 and a 12-month high of $46.70. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.11. The company has a market cap of $3.35 billion, a P/E ratio of 10.19 and a beta of 1.11.

Cathay General Bancorp (NASDAQ:CATY) last announced its quarterly earnings results on Monday, July 22nd. The bank reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.02). The company had revenue of $178.53 million for the quarter, compared to analysts’ expectations of $179.19 million. Cathay General Bancorp had a net margin of 22.08% and a return on equity of 11.96%. Cathay General Bancorp’s quarterly revenue was down 12.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.28 EPS. Research analysts anticipate that Cathay General Bancorp will post 4.02 EPS for the current year.

Cathay General Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Thursday, August 29th were paid a $0.34 dividend. The ex-dividend date was Thursday, August 29th. This represents a $1.36 annualized dividend and a yield of 2.95%. Cathay General Bancorp’s payout ratio is 30.09%.

Insiders Place Their Bets

In other news, Vice Chairman Peter Wu sold 20,000 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $45.19, for a total transaction of $903,800.00. Following the sale, the insider now owns 355,252 shares in the company, valued at approximately $16,053,837.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Vice Chairman Peter Wu sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $45.19, for a total transaction of $903,800.00. Following the completion of the transaction, the insider now owns 355,252 shares of the company’s stock, valued at $16,053,837.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Dunson K. Cheng sold 12,401 shares of the business’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 completion of the sale, the chairman now directly owns 149,566 shares in the company, valued at $6,699,061.14. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,401 shares of company stock worth $1,728,581. 4.76% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on CATY shares. Piper Sandler raised their target price on shares of Cathay General Bancorp from $32.00 to $36.00 and gave the stock an “underweight” rating in a report on Tuesday, July 23rd. Truist Financial boosted their price objective on shares of 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 increased their target price on shares of Cathay General Bancorp from $44.00 to $50.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Finally, StockNews.com upgraded Cathay General Bancorp from a “sell” rating to a “hold” rating in a report on Friday, July 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cathay General Bancorp currently has an average rating of “Hold” and an average target price of $43.50.

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.