Zurich Insurance Group Ltd FI Takes Position in Cathay General Bancorp (CATY)

Zurich Insurance Group Ltd FI acquired a new stake in Cathay General Bancorp (NASDAQ:CATY) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 23,400 shares of the bank’s stock, valued at approximately $888,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Karp Capital Management Corp acquired a new position in Cathay General Bancorp in the 1st quarter valued at $526,000. Prudential Financial Inc. raised its holdings in Cathay General Bancorp by 23.1% in the 2nd quarter. Prudential Financial Inc. now owns 1,185,515 shares of the bank’s stock valued at $44,990,000 after acquiring an additional 222,106 shares in the last quarter. Great West Life Assurance Co. Can raised its holdings in Cathay General Bancorp by 0.8% in the 2nd quarter. Great West Life Assurance Co. Can now owns 44,923 shares of the bank’s stock valued at $1,704,000 after acquiring an additional 346 shares in the last quarter. Teachers Advisors LLC raised its holdings in Cathay General Bancorp by 2.4% in the 1st quarter. Teachers Advisors LLC now owns 690,355 shares of the bank’s stock valued at $26,013,000 after acquiring an additional 16,056 shares in the last quarter. Finally, Capital One National Association raised its holdings in Cathay General Bancorp by 3.5% in the 2nd quarter. Capital One National Association now owns 38,068 shares of the bank’s stock valued at $1,445,000 after acquiring an additional 1,288 shares in the last quarter. 67.78% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have weighed in on the company. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $43.00 price objective on shares of Cathay General Bancorp in a report on Friday, October 6th. BMO Capital Markets reaffirmed a “buy” rating and issued a $44.00 price objective on shares of Cathay General Bancorp in a report on Thursday, October 5th. Zacks Investment Research raised Cathay General Bancorp from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a report on Monday, September 18th. SunTrust Banks, Inc. began coverage on Cathay General Bancorp in a report on Friday, August 18th. They set a “hold” rating and a $39.00 price target for the company. Finally, BidaskClub cut Cathay General Bancorp from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. Cathay General Bancorp currently has an average rating of “Hold” and an average target price of $40.86.

COPYRIGHT VIOLATION WARNING: “Zurich Insurance Group Ltd FI Takes Position in Cathay General Bancorp (CATY)” was first reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this piece on another website, it was stolen and reposted in violation of US and international copyright legislation. The legal version of this piece can be accessed at https://ledgergazette.com/2017/10/11/zurich-insurance-group-ltd-fi-takes-position-in-cathay-general-bancorp-caty.html.

Cathay General Bancorp (NASDAQ CATY) opened at 41.00 on Wednesday. The stock’s 50 day moving average price is $37.40 and its 200-day moving average price is $37.41. The firm has a market cap of $3.31 billion, a PE ratio of 16.87 and a beta of 1.31. Cathay General Bancorp has a 12-month low of $28.84 and a 12-month high of $41.11.

Cathay General Bancorp (NASDAQ:CATY) last issued its quarterly earnings data on Wednesday, July 19th. The bank reported $0.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.03. Cathay General Bancorp had a return on equity of 10.54% and a net margin of 35.30%. The company had revenue of $123.50 million for the quarter, compared to the consensus estimate of $129.10 million. During the same quarter last year, the business posted $0.44 earnings per share. Equities research analysts anticipate that Cathay General Bancorp will post $2.45 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Friday, September 1st were given a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.8

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Karp Capital Management Corp acquired a new position in Cathay General Bancorp in the 1st quarter valued at $526,000. Prudential Financial Inc. raised its holdings in Cathay General Bancorp by 23.1% in the 2nd quarter. Prudential Financial Inc. now owns 1,185,515 shares of the bank’s stock valued at $44,990,000 after acquiring an additional 222,106 shares in the last quarter. Great West Life Assurance Co. Can raised its holdings in Cathay General Bancorp by 0.8% in the 2nd quarter. Great West Life Assurance Co. Can now owns 44,923 shares of the bank’s stock valued at $1,704,000 after acquiring an additional 346 shares in the last quarter. Teachers Advisors LLC raised its holdings in Cathay General Bancorp by 2.4% in the 1st quarter. Teachers Advisors LLC now owns 690,355 shares of the bank’s stock valued at $26,013,000 after acquiring an additional 16,056 shares in the last quarter. Finally, Capital One National Association raised its holdings in Cathay General Bancorp by 3.5% in the 2nd quarter. Capital One National Association now owns 38,068 shares of the bank’s stock valued at $1,445,000 after acquiring an additional 1,288 shares in the last quarter. 67.78% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have weighed in on the company. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $43.00 price objective on shares of Cathay General Bancorp in a report on Friday, October 6th. BMO Capital Markets reaffirmed a “buy” rating and issued a $44.00 price objective on shares of Cathay General Bancorp in a report on Thursday, October 5th. Zacks Investment Research raised Cathay General Bancorp from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a report on Monday, September 18th. SunTrust Banks, Inc. began coverage on Cathay General Bancorp in a report on Friday, August 18th. They set a “hold” rating and a $39.00 price target for the company. Finally, BidaskClub cut Cathay General Bancorp from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. Cathay General Bancorp currently has an average rating of “Hold” and an average target price of $40.86.

COPYRIGHT VIOLATION WARNING: “Zurich Insurance Group Ltd FI Takes Position in Cathay General Bancorp (CATY)” was first reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this piece on another website, it was stolen and reposted in violation of US and international copyright legislation. The legal version of this piece can be accessed at https://ledgergazette.com/2017/10/11/zurich-insurance-group-ltd-fi-takes-position-in-cathay-general-bancorp-caty.html.

Cathay General Bancorp (NASDAQ CATY) opened at 41.00 on Wednesday. The stock’s 50 day moving average price is $37.40 and its 200-day moving average price is $37.41. The firm has a market cap of $3.31 billion, a PE ratio of 16.87 and a beta of 1.31. Cathay General Bancorp has a 12-month low of $28.84 and a 12-month high of $41.11.

Cathay General Bancorp (NASDAQ:CATY) last issued its quarterly earnings data on Wednesday, July 19th. The bank reported $0.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.03. Cathay General Bancorp had a return on equity of 10.54% and a net margin of 35.30%. The company had revenue of $123.50 million for the quarter, compared to the consensus estimate of $129.10 million. During the same quarter last year, the business posted $0.44 earnings per share. Equities research analysts anticipate that Cathay General Bancorp will post $2.45 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Friday, September 1st were given a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.05%. Cathay General Bancorp’s dividend payout ratio (DPR) is presently 34.57%.

Cathay General Bancorp Profile

Cathay General Bancorp is a bank holding company. The Company holds Cathay Bank, a California state-chartered commercial bank (the Bank); seven limited partnerships investing in affordable housing investments; GBC Venture Capital, Inc, and Asia Realty Corp. The Company also owns the common stock of five statutory business trusts created for issuing capital securities.

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

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