Amundi lifted its stake in shares of Cathay General Bancorp (NASDAQ:CATY - Free Report) by 161.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 38,422 shares of the bank's stock after purchasing an additional 23,722 shares during the quarter. Amundi owned 0.05% of Cathay General Bancorp worth $1,810,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in CATY. Venturi Wealth Management LLC bought a new stake in shares of Cathay General Bancorp during the fourth quarter valued at about $82,000. Smartleaf Asset Management LLC increased its holdings in Cathay General Bancorp by 189.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,794 shares of the bank's stock worth $86,000 after acquiring an additional 1,175 shares during the period. GAMMA Investing LLC lifted its stake in Cathay General Bancorp by 42.9% in the 4th quarter. GAMMA Investing LLC now owns 2,188 shares of the bank's stock worth $104,000 after purchasing an additional 657 shares in the last quarter. KBC Group NV boosted its stake in Cathay General Bancorp by 68.5% during the fourth quarter. KBC Group NV now owns 3,730 shares of the bank's stock valued at $178,000 after buying an additional 1,517 shares during the period. Finally, CIBC Asset Management Inc bought a new position in shares of Cathay General Bancorp in the third quarter worth approximately $201,000. Hedge funds and other institutional investors own 75.01% of the company's stock.
Cathay General Bancorp Stock Up 0.3 %
CATY stock traded up $0.14 during midday trading on Friday, hitting $43.28. The company's stock had a trading volume of 2,945,270 shares, compared to its average volume of 324,137. The firm's 50-day moving average is $46.16 and its 200-day moving average is $46.67. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.07. Cathay General Bancorp has a 12 month low of $33.88 and a 12 month high of $55.29. The company has a market cap of $3.04 billion, a PE ratio of 10.93 and a beta of 1.09.
Cathay General Bancorp (NASDAQ:CATY - Get Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The bank reported $1.12 EPS for the quarter, topping the consensus estimate of $1.10 by $0.02. Cathay General Bancorp had a return on equity of 10.70% and a net margin of 20.57%. On average, equities research analysts forecast that Cathay General Bancorp will post 4.47 earnings per share for the current fiscal year.
Cathay General Bancorp Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Thursday, February 27th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend was Thursday, February 27th. Cathay General Bancorp's dividend payout ratio (DPR) is presently 34.34%.
Wall Street Analysts Forecast Growth
CATY has been the subject of a number of recent research reports. Stephens lowered their price objective 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 lowered their target price on 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 decreased their price objective 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 analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $50.80.
Check Out Our Latest Research Report on Cathay General Bancorp
Cathay General Bancorp Company Profile
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Free Report)
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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