Moody Aldrich Partners buys $898,204 stake in Cathay General Bancorp (CATY)

Cathay General Bancorp (CATY) : Moody Aldrich Partners scooped up 19,060 additional shares in Cathay General Bancorp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 25, 2016. The investment management firm now holds a total of 29,430 shares of Cathay General Bancorp which is valued at $898,204.Cathay General Bancorp makes up approximately 1.91% of Moody Aldrich Partners’s portfolio.

Cathay General Bancorp opened for trading at $30.56 and hit $30.93 on the upside on Monday, eventually ending the session at $30.81, with a gain of 0.95% or 0.29 points. The heightened volatility saw the trading volume jump to 3,72,152 shares. Company has a market cap of $2,452 M.

Other Hedge Funds, Including , Louisiana State Employees Retirement System reduced its stake in CATY by selling 300 shares or 1.44% in the most recent quarter. The Hedge Fund company now holds 20,500 shares of CATY which is valued at $625,660. Cathay General Bancorp makes up approx 0.03% of Louisiana State Employees Retirement System’s portfolio.Tiaa Cref Trust Co Fsbmo boosted its stake in CATY in the latest quarter, The investment management firm added 16,508 additional shares and now holds a total of 44,105 shares of Cathay General Bancorp which is valued at $1,378,281. Cathay General Bancorp makes up approx 0.01% of Tiaa Cref Trust Co Fsbmo’s portfolio. Strs Ohio sold out all of its stake in CATY during the most recent quarter. The investment firm sold 8,900 shares of CATY which is valued $278,125.Capital One National Association boosted its stake in CATY in the latest quarter, The investment management firm added 334 additional shares and now holds a total of 36,720 shares of Cathay General Bancorp which is valued at $1,147,500. Cathay General Bancorp makes up approx 0.10% of Capital One National Association’s portfolio.Oregon Public Employees Retirement Fund boosted its stake in CATY in the latest quarter, The investment management firm added 1,396 additional shares and now holds a total of 24,612 shares of Cathay General Bancorp which is valued at $745,497. Cathay General Bancorp makes up approx 0.02% of Oregon Public Employees Retirement Fund’s portfolio.

On the company’s financial health, Cathay General Bancorp reported $0.57 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Apr 20, 2016. Analyst had a consensus of $0.52. The company had revenue of $109.91 million for the quarter, compared to analysts expectations of $109.82 million. The company’s revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.45 EPS.

Many Wall Street Analysts have commented on Cathay General Bancorp. Company shares were Reiterated by DA Davidson on Apr 21, 2016 to “Neutral”, Firm has raised the Price Target to $ 33 from a previous price target of $30 .

Cathay General Company is a bank holding company. The Company operates through Cathay Bank a California state-chartered commercial bank (the Bank) seven limited partnerships investing in affordable housing investments in which the Bank is the sole limited partner and GBC Venture Capital Inc. The Bank primarily services individuals professionals and small to medium-sized businesses in the local markets in which its branches are located and provides commercial mortgage loans commercial loans residential mortgage loans real estate construction loans home equity lines of credit and installment loans to individuals. It operates approximately 60 branches across California New York State Chicago Washington State Texas Maryland Massachusetts Nevada New Jersey Hong Kong Taipei and Shanghai. It offers deposit products including passbook accounts checking accounts college certificates of deposit and public funds deposits.

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