Cibc World Markets Corp bought a new stake in Cathay General Bancorp (NASDAQ:CATY - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 6,514 shares of the bank's stock, valued at approximately $310,000.
A number of other institutional investors have also made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its stake in shares of Cathay General Bancorp by 3.7% during the 4th 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 increased its position in shares of 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 purchasing an additional 20,840 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Cathay General Bancorp by 821.4% during 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 in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Cathay General Bancorp by 1.5% in the 4th quarter. Principal Financial Group Inc. now owns 345,597 shares of the bank's stock valued at $16,454,000 after buying an additional 5,114 shares during the last quarter. Finally, Stieven Capital Advisors L.P. grew its stake in shares of Cathay General Bancorp by 2.2% in the fourth quarter. Stieven Capital Advisors L.P. now owns 262,004 shares of the bank's stock valued at $12,474,000 after buying an additional 5,600 shares in the last quarter. Institutional investors own 75.01% of the company's stock.
Cathay General Bancorp Stock Performance
Shares of NASDAQ CATY traded down $0.27 during trading hours on Tuesday, reaching $43.98. 335,246 shares of the stock were exchanged, compared to its average volume of 322,877. The stock's fifty day simple moving average is $46.08 and its 200 day simple moving average is $46.73. The firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of 11.11 and a beta of 1.09. Cathay General Bancorp has a 52 week low of $33.88 and a 52 week high of $55.29. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.03 and a current ratio of 1.03.
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 (EPS) for the quarter, beating 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 EPS for the current year.
Cathay General Bancorp Dividend Announcement
The business also recently declared 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 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend was Thursday, February 27th. Cathay General Bancorp's dividend payout ratio (DPR) is currently 34.34%.
Analyst Ratings Changes
A number of analysts have commented on the stock. Stephens cut 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 research note on Thursday, January 23rd. Piper Sandler reduced their price target 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. Finally, Keefe, Bruyette & Woods cut their price objective on Cathay General Bancorp from $56.00 to $55.00 and set a "market perform" rating for the company in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $50.80.
Check Out Our Latest Analysis on CATY
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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