Mason Street Advisors LLC Trims Holdings in Cathay General Bancorp (NASDAQ:CATY)

Mason Street Advisors LLC trimmed its position in Cathay General Bancorp (NASDAQ:CATY) by 2.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,765 shares of the bank’s stock after selling 940 shares during the quarter. Mason Street Advisors LLC’s holdings in Cathay General Bancorp were worth $1,381,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Quest Capital Management Inc. ADV purchased a new stake in Cathay General Bancorp in the 3rd quarter worth approximately $27,000. Parallel Advisors LLC purchased a new stake in Cathay General Bancorp in the 2nd quarter worth approximately $37,000. Tower Research Capital LLC TRC increased its holdings in Cathay General Bancorp by 101.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,349 shares of the bank’s stock worth $82,000 after acquiring an additional 1,181 shares in the last quarter. Oppenheimer Asset Management Inc. increased its holdings in Cathay General Bancorp by 31.6% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 2,393 shares of the bank’s stock worth $83,000 after acquiring an additional 575 shares in the last quarter. Finally, Denali Advisors LLC purchased a new stake in Cathay General Bancorp in the 2nd quarter worth approximately $108,000. 69.36% of the stock is owned by institutional investors.

CATY has been the subject of several analyst reports. Wedbush reduced their target price on shares of Cathay General Bancorp from $40.00 to $39.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. BidaskClub raised shares of Cathay General Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. Zacks Investment Research raised shares of Cathay General Bancorp from a “strong sell” rating to a “hold” rating in a report on Monday, October 21st. Finally, ValuEngine raised shares of Cathay General Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $41.50.

In related news, Director Jane H. Jelenko sold 5,000 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $37.13, for a total value of $185,650.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Anthony M. Tang sold 10,000 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $36.59, for a total transaction of $365,900.00. Following the completion of the transaction, the insider now directly owns 250,122 shares of the company’s stock, valued at $9,151,963.98. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,245 shares of company stock valued at $737,182. 4.73% of the stock is currently owned by insiders.

Shares of CATY opened at $36.78 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.06 and a quick ratio of 1.06. Cathay General Bancorp has a 1 year low of $31.89 and a 1 year high of $40.11. The company has a 50 day simple moving average of $35.56 and a two-hundred day simple moving average of $35.25. The firm has a market cap of $2.93 billion, a P/E ratio of 11.01 and a beta of 1.27.

Cathay General Bancorp (NASDAQ:CATY) last announced its quarterly earnings data on Wednesday, October 16th. The bank reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Cathay General Bancorp had a net margin of 34.23% and a return on equity of 12.68%. The business had revenue of $157.39 million during the quarter, compared to analyst estimates of $156.07 million. During the same period last year, the firm posted $0.85 EPS. On average, sell-side analysts anticipate that Cathay General Bancorp will post 3.49 earnings per share for the current year.

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.

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

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