The Cathay General Bancorp (CATY) Shares Bought by Northern Trust Corp

The Cathay General Bancorp (CATY) Shares Bought by Northern Trust Corp

Northern Trust Corp increased its stake in Cathay General Bancorp (NASDAQ:CATY) by 2.2% during the third quarter, Holdings Channel reports. The firm owned 2,098,048 shares of the company’s stock after buying an additional 45,066 shares during the period. Northern Trust Corp’s holdings in Cathay General Bancorp were worth $64,577,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CATY. Princeton Alpha Management LP increased its stake in Cathay General Bancorp by 13.1% in the third quarter. Princeton Alpha Management LP now owns 19,576 shares of the company’s stock valued at $603,000 after buying an additional 2,273 shares in the last quarter. American International Group Inc. increased its stake in Cathay General Bancorp by 0.8% in the third quarter. American International Group Inc. now owns 183,783 shares of the company’s stock valued at $5,657,000 after buying an additional 1,421 shares in the last quarter. California State Teachers Retirement System increased its stake in Cathay General Bancorp by 0.8% in the third quarter. California State Teachers Retirement System now owns 157,245 shares of the company’s stock valued at $4,840,000 after buying an additional 1,300 shares in the last quarter. Schroder Investment Management Group acquired a new stake in Cathay General Bancorp during the third quarter valued at about $942,000. Finally, Municipal Employees Retirement System of Michigan increased its stake in Cathay General Bancorp by 1.5% in the third quarter. Municipal Employees Retirement System of Michigan now owns 32,920 shares of the company’s stock valued at $1,013,000 after buying an additional 480 shares in the last quarter. 67.17% of the stock is owned by hedge funds and other institutional investors.

Cathay General Bancorp (NASDAQ:CATY) opened at 36.28 on Friday. The stock has a market capitalization of $2.86 billion, a P/E ratio of 17.37 and a beta of 1.20. Cathay General Bancorp has a 52 week low of $25.62 and a 52 week high of $38.99. The stock has a 50 day moving average of $37.51 and a 200 day moving average of $32.57.

Cathay General Bancorp (NASDAQ:CATY) last posted its quarterly earnings results on Wednesday, October 19th. The company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by $0.01. Cathay General Bancorp had a return on equity of 9.58% and a net margin of 32.24%. During the same quarter in the previous year, the business earned $0.47 earnings per share. On average, equities research analysts predict that Cathay General Bancorp will post $2.19 earnings per share for the current fiscal year.

Separately, Zacks Investment Research upgraded shares of Cathay General Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, December 12th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Cathay General Bancorp presently has a consensus rating of “Buy” and a consensus target price of $34.40.

In related news, CFO Heng W. Chen sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of $35.19, for a total transaction of $422,280.00. Following the transaction, the chief financial officer now owns 73,940 shares of the company’s stock, valued at $2,601,948.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Heng W. Chen sold 22,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $35.24, for a total transaction of $775,280.00. Following the transaction, the chief financial officer now directly owns 73,940 shares in the company, valued at approximately $2,605,645.60. The disclosure for this sale can be found here. Insiders sold 352,810 shares of company stock valued at $12,574,937 over the last three months. 6.36% of the stock is owned by insiders.

Cathay General Bancorp Company Profile

Cathay General Bancorp is a bank holding company. The Company holds Cathay Bank, a California state-chartered commercial bank (the Bank); approximately seven limited partnerships investing in affordable housing investments, in which the Bank is the sole limited partner; GBC Venture Capital, Inc, and Asia Realty Corp.

Want to see what other hedge funds are holding CATY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cathay General Bancorp (NASDAQ:CATY).

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