First Mercantile Trust Co Lowers stake in Cathay General Bancorp (CATY)

Cathay General Bancorp (CATY) : First Mercantile Trust Co reduced its stake in Cathay General Bancorp by 18.73% during the most recent quarter end. The investment management company now holds a total of 14,100 shares of Cathay General Bancorp which is valued at $439,356 after selling 3,250 shares in Cathay General Bancorp , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Cathay General Bancorp makes up approximately 0.06% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Simplex Trading added CATY to its portfolio by purchasing 127 company shares during the most recent quarter which is valued at $3,957.Bnp Paribas Arbitrage Sa reduced its stake in CATY by selling 20,029 shares or 59.85% in the most recent quarter. The Hedge Fund company now holds 13,435 shares of CATY which is valued at $418,769.

Cathay General Bancorp opened for trading at $31.04 and hit $31.23 on the upside on Friday, eventually ending the session at $31.16, with a gain of 0.10% or 0.03 points. The heightened volatility saw the trading volume jump to 3,68,617 shares. Company has a market cap of $2,457 M.

On the company’s financial health, Cathay General Bancorp reported $0.44 EPS for the quarter, based on the information available during the earnings call on Jul 20, 2016. Analyst had a consensus estimate of $0.44.Analysts expectations of $ 110.83.During the same quarter in the previous year, the company posted $0.56 EPS.

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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