Invesco Ltd. grew its stake in shares of Cathay General Bancorp (NASDAQ:CATY - Free Report) by 6.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,519,442 shares of the bank's stock after purchasing an additional 85,963 shares during the quarter. Invesco Ltd. owned approximately 2.13% of Cathay General Bancorp worth $72,341,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC increased its stake in shares of Cathay General Bancorp by 332.3% in the third quarter. FMR LLC now owns 25,313 shares of the bank's stock valued at $1,087,000 after purchasing an additional 19,458 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in Cathay General Bancorp by 17.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,236 shares of the bank's stock valued at $2,509,000 after acquiring an additional 7,837 shares in the last quarter. Geode Capital Management LLC boosted its position in Cathay General Bancorp by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,713,650 shares of the bank's stock worth $73,615,000 after acquiring an additional 20,840 shares during the period. Barclays PLC grew its stake in shares of Cathay General Bancorp by 104.3% in the third quarter. Barclays PLC now owns 145,690 shares of the bank's stock worth $6,257,000 after purchasing an additional 74,394 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Cathay General Bancorp by 6.6% during the third quarter. JPMorgan Chase & Co. now owns 156,125 shares of the bank's stock valued at $6,706,000 after purchasing an additional 9,724 shares in the last quarter. 75.01% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on the stock. Stephens lowered their target price on shares of Cathay General Bancorp from $60.00 to $57.00 and set an "overweight" rating on the stock in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods dropped their target price on Cathay General Bancorp from $56.00 to $55.00 and set a "market perform" rating on the stock in a report on Thursday, January 23rd. Finally, Piper Sandler decreased their price target on Cathay General Bancorp from $45.00 to $43.00 and set an "underweight" rating for the company in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $50.80.
Read Our Latest Report on Cathay General Bancorp
Cathay General Bancorp Price Performance
CATY stock traded up $0.29 on Friday, hitting $38.63. 581,995 shares of the company's stock traded hands, compared to its average volume of 352,076. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of 9.76 and a beta of 0.99. Cathay General Bancorp has a 1-year low of $33.88 and a 1-year high of $55.29. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.07. The stock has a fifty day moving average of $43.07 and a 200-day moving average of $46.29.
Cathay General Bancorp (NASDAQ:CATY - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The bank reported $1.12 EPS for the quarter, beating 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, analysts forecast that Cathay General Bancorp will post 4.47 EPS for the current fiscal year.
Cathay General Bancorp Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Thursday, February 27th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date of this dividend was Thursday, February 27th. Cathay General Bancorp's dividend payout ratio is 34.34%.
About Cathay General Bancorp
(
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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