JPMorgan Chase & Co. Acquires 175,737 Shares of Cathay General Bancorp (NASDAQ:CATY)

JPMorgan Chase & Co. lifted its stake in shares of Cathay General Bancorp (NASDAQ:CATY - Free Report) by 112.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 331,862 shares of the bank's stock after purchasing an additional 175,737 shares during the quarter. JPMorgan Chase & Co. owned about 0.47% of Cathay General Bancorp worth $15,800,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its position in Cathay General Bancorp by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,861,501 shares of the bank's stock worth $136,236,000 after buying an additional 102,724 shares during the last quarter. Geode Capital Management LLC grew its holdings in Cathay General Bancorp by 1.2% during the third quarter. Geode Capital Management LLC now owns 1,713,650 shares of the bank's stock valued at $73,615,000 after purchasing an additional 20,840 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Cathay General Bancorp by 5.2% during the 4th quarter. American Century Companies Inc. now owns 1,471,066 shares of the bank's stock worth $70,037,000 after purchasing an additional 72,532 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Cathay General Bancorp by 821.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 381,764 shares of the bank's stock worth $18,176,000 after purchasing an additional 340,329 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Cathay General Bancorp by 1.5% during the fourth quarter. Principal Financial Group Inc. now owns 345,597 shares of the bank's stock valued at $16,454,000 after purchasing an additional 5,114 shares during the period. 75.01% of the stock is currently owned by institutional investors.

Cathay General Bancorp Trading Down 0.1 %

Shares of Cathay General Bancorp stock traded down $0.03 during midday trading on Thursday, reaching $38.31. The company had a trading volume of 69,735 shares, compared to its average volume of 350,123. The firm has a market cap of $2.69 billion, a PE ratio of 9.71 and a beta of 0.99. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.03 and a quick ratio of 1.03. Cathay General Bancorp has a fifty-two week low of $33.88 and a fifty-two week high of $55.29. The stock has a fifty day moving average price of $43.23 and a 200 day moving average price of $46.32.

Cathay General Bancorp (NASDAQ:CATY - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The bank reported $1.12 EPS for the quarter, beating analysts' consensus estimates 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 analysts anticipate that Cathay General Bancorp will post 4.47 earnings per share for the current year.

Cathay General Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Thursday, February 27th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date was Thursday, February 27th. Cathay General Bancorp's payout ratio is 34.34%.

Analyst Upgrades and Downgrades

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

About Cathay General Bancorp

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.