Cibc World Markets Corp Purchases New Position in Cathay General Bancorp (NASDAQ:CATY)

Cibc World Markets Corp acquired a new stake in Cathay General Bancorp (NASDAQ:CATY - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 6,514 shares of the bank's stock, valued at approximately $310,000.

A number of other hedge funds also recently made changes to their positions in CATY. Royce & Associates LP raised its holdings in Cathay General Bancorp by 10.3% in the 4th quarter. Royce & Associates LP now owns 54,489 shares of the bank's stock valued at $2,594,000 after buying an additional 5,069 shares during the last quarter. Natixis Advisors LLC lifted its holdings in Cathay General Bancorp by 16.8% during the 4th quarter. Natixis Advisors LLC now owns 13,916 shares of the bank's stock worth $663,000 after buying an additional 2,002 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Cathay General Bancorp by 36.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,581 shares of the bank's stock valued at $980,000 after buying an additional 5,550 shares during the last quarter. Amundi lifted its stake in shares of Cathay General Bancorp by 161.4% in the fourth quarter. Amundi now owns 38,422 shares of the bank's stock worth $1,810,000 after acquiring an additional 23,722 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Cathay General Bancorp in the 4th quarter worth approximately $396,000. 75.01% of the stock is currently owned by institutional investors and hedge funds.

Cathay General Bancorp Stock Down 1.9 %

CATY stock traded down $0.82 during trading on Friday, reaching $42.63. The stock had a trading volume of 225,174 shares, compared to its average volume of 338,051. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of 10.77 and a beta of 1.09. Cathay General Bancorp has a one year low of $33.88 and a one year high of $55.29. The company's 50 day moving average is $45.81 and its two-hundred day moving average is $46.69.

Cathay General Bancorp (NASDAQ:CATY - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The bank reported $1.12 earnings per share for the quarter, topping 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%. Equities research analysts forecast that Cathay General Bancorp will post 4.47 EPS for the current 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. The ex-dividend date was Thursday, February 27th. This represents a $1.36 annualized dividend and a yield of 3.19%. Cathay General Bancorp's payout ratio is 34.34%.

Wall Street Analysts Forecast Growth

CATY has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods decreased their price target on 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. Stephens decreased their target price on shares of Cathay General Bancorp from $60.00 to $57.00 and set an "overweight" rating for the company in a research report on Thursday, January 23rd. Finally, Piper Sandler dropped 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. One research 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $50.80.

Cathay General Bancorp 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.