Denali Advisors LLC Raises Holdings in Cathay General Bancorp (NASDAQ:CATY)

Denali Advisors LLC raised its holdings in Cathay General Bancorp (NASDAQ:CATY - Free Report) by 339.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 143,727 shares of the bank's stock after buying an additional 111,034 shares during the quarter. Denali Advisors LLC owned 0.20% of Cathay General Bancorp worth $6,843,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Venturi Wealth Management LLC bought a new stake in shares of Cathay General Bancorp during the fourth quarter valued at approximately $82,000. GAMMA Investing LLC increased its holdings in shares of Cathay General Bancorp by 42.9% during the fourth quarter. GAMMA Investing LLC now owns 2,188 shares of the bank's stock valued at $104,000 after acquiring an additional 657 shares in the last quarter. KBC Group NV increased its holdings in shares of 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 acquiring an additional 1,517 shares in the last quarter. CIBC Asset Management Inc bought a new stake in shares of Cathay General Bancorp during the third quarter valued at approximately $201,000. Finally, SG Americas Securities LLC increased its holdings in shares of Cathay General Bancorp by 96.6% during the fourth quarter. SG Americas Securities LLC now owns 5,411 shares of the bank's stock valued at $258,000 after acquiring an additional 2,659 shares in the last quarter. 75.01% of the stock is owned by institutional investors and hedge funds.

Cathay General Bancorp Stock Up 1.8 %

Cathay General Bancorp stock traded up $0.83 during trading on Friday, hitting $46.95. 462,671 shares of the company were exchanged, compared to its average volume of 333,274. The business's 50 day moving average is $47.19 and its 200 day moving average is $46.57. 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 52 week low of $33.88 and a 52 week high of $55.29. The company has a market capitalization of $3.34 billion, a P/E ratio of 11.86 and a beta of 1.12.

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Cathay General Bancorp (NASDAQ:CATY - Get Free Report) last posted its quarterly earnings data on Wednesday, January 22nd. The bank reported $1.12 earnings per share 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%. Analysts predict that Cathay General Bancorp will post 4.47 earnings per share for the current year.

Cathay General Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Thursday, February 27th will be given a $0.34 dividend. The ex-dividend date is Thursday, February 27th. This represents a $1.36 annualized dividend and a yield of 2.90%. Cathay General Bancorp's dividend payout ratio is currently 34.34%.

Wall Street Analyst Weigh In

CATY has been the subject of several recent research reports. Stephens decreased their price objective on 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 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. 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 report on Monday, January 27th. 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 company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus 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.