Proficio Capital Partners LLC Takes $2.02 Million Position in Cathay General Bancorp (NASDAQ:CATY)

Proficio Capital Partners LLC purchased a new stake in Cathay General Bancorp (NASDAQ:CATY - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 42,348 shares of the bank's stock, valued at approximately $2,016,000. Proficio Capital Partners LLC owned 0.06% of Cathay General Bancorp as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. CWA Asset Management Group LLC acquired a new position in Cathay General Bancorp in the third quarter valued at about $671,000. Aigen Investment Management LP lifted its holdings in shares of Cathay General Bancorp by 11.7% during the 3rd quarter. Aigen Investment Management LP now owns 6,108 shares of the bank's stock valued at $262,000 after purchasing an additional 639 shares in the last quarter. CIBC Asset Management Inc acquired a new position in shares of Cathay General Bancorp in the 3rd quarter valued at approximately $201,000. Royce & Associates LP increased its stake in Cathay General Bancorp by 25.4% during the 3rd quarter. Royce & Associates LP now owns 49,420 shares of the bank's stock worth $2,123,000 after purchasing an additional 10,022 shares in the last quarter. Finally, Natixis Advisors LLC acquired a new stake in Cathay General Bancorp during the 3rd quarter worth approximately $512,000. Institutional investors own 75.01% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on CATY shares. Stephens reduced their price target on shares of Cathay General Bancorp from $60.00 to $57.00 and set an "overweight" rating for the company in a report on Thursday, January 23rd. Keefe, Bruyette & Woods reduced their target price on shares of Cathay General Bancorp from $56.00 to $55.00 and set a "market perform" rating for the company in a research note on Thursday, January 23rd. Finally, Piper Sandler lowered their target price on Cathay General Bancorp from $45.00 to $43.00 and set an "underweight" rating for the company in a report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Cathay General Bancorp currently has a consensus rating of "Hold" and an average target price of $50.80.

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Cathay General Bancorp Stock Up 0.5 %

CATY traded up $0.21 during trading hours on Friday, hitting $44.67. 287,866 shares of the company's stock were exchanged, compared to its average volume of 320,671. The stock has a market cap of $3.18 billion, a price-to-earnings ratio of 11.28 and a beta of 1.12. Cathay General Bancorp has a 1-year low of $33.88 and a 1-year high of $55.29. The stock's 50-day moving average is $46.97 and its two-hundred day moving average is $46.68. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.07.

Cathay General Bancorp (NASDAQ:CATY - Get Free Report) last posted its quarterly earnings data on Wednesday, January 22nd. The bank reported $1.12 EPS for the quarter, topping analysts' consensus estimates of $1.10 by $0.02. Cathay General Bancorp had a net margin of 20.57% and a return on equity of 10.70%. Sell-side analysts predict that Cathay General Bancorp will post 4.47 earnings per share for the current fiscal year.

Cathay General Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Thursday, February 27th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $1.36 dividend on an annualized basis and a yield of 3.04%. Cathay General Bancorp's dividend payout ratio is 34.34%.

Cathay General Bancorp Company Profile

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.