Geode Capital Management LLC Has $81.27 Million Position in Cathay General Bancorp (NASDAQ:CATY)

Geode Capital Management LLC trimmed its position in Cathay General Bancorp (NASDAQ:CATY - Free Report) by 0.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,706,544 shares of the bank's stock after selling 7,106 shares during the quarter. Geode Capital Management LLC owned approximately 2.40% of Cathay General Bancorp worth $81,267,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Nomura Asset Management Co. Ltd. raised its stake in Cathay General Bancorp by 63.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 850 shares of the bank's stock valued at $40,000 after purchasing an additional 330 shares during the period. Physician Wealth Advisors Inc. acquired a new stake in Cathay General Bancorp during the 4th quarter worth about $55,000. Venturi Wealth Management LLC purchased a new stake in shares of Cathay General Bancorp in the fourth quarter worth approximately $82,000. Smartleaf Asset Management LLC boosted its holdings in shares of Cathay General Bancorp by 189.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,794 shares of the bank's stock worth $86,000 after purchasing an additional 1,175 shares during the period. Finally, GAMMA Investing LLC grew its position in 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 purchasing an additional 657 shares in the last quarter. 75.01% of the stock is owned by hedge funds and other institutional investors.

Cathay General Bancorp Price Performance

Cathay General Bancorp stock traded down $0.20 during trading hours on Wednesday, hitting $38.12. 69,432 shares of the stock were exchanged, compared to its average volume of 348,572. Cathay General Bancorp has a 12 month low of $33.88 and a 12 month high of $55.29. The business's 50-day moving average is $43.40 and its two-hundred day moving average is $46.38. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market capitalization of $2.68 billion, a P/E ratio of 9.62 and a beta of 0.99.

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, topping 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%. Equities research analysts expect that Cathay General Bancorp will post 4.47 EPS for the current fiscal year.

Cathay General Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Thursday, February 27th were given a dividend of $0.34 per share. The ex-dividend date was Thursday, February 27th. This represents a $1.36 annualized dividend and a dividend yield of 3.57%. Cathay General Bancorp's payout ratio is currently 34.34%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Stephens reduced their price objective on 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. Keefe, Bruyette & Woods reduced their target price on shares of Cathay General Bancorp from $56.00 to $55.00 and set a "market perform" rating for the company in a research note on Thursday, January 23rd. Finally, Piper Sandler reduced their price objective on shares of 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 analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target 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.