Headlands Technologies LLC Boosts Stock Position in Cathay General Bancorp (NASDAQ:CATY)

Headlands Technologies LLC grew its position in Cathay General Bancorp (NASDAQ:CATY - Free Report) by 457.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 20,428 shares of the bank's stock after buying an additional 16,763 shares during the period. Headlands Technologies LLC's holdings in Cathay General Bancorp were worth $973,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CATY. Norges Bank bought a new position in Cathay General Bancorp in the fourth quarter valued at about $36,231,000. Assenagon Asset Management S.A. increased its stake 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 buying an additional 340,329 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Cathay General Bancorp by 112.6% during the fourth quarter. JPMorgan Chase & Co. now owns 331,862 shares of the bank's stock valued at $15,800,000 after acquiring an additional 175,737 shares during the period. Denali Advisors LLC lifted its position in shares of Cathay General Bancorp by 339.6% in the fourth quarter. Denali Advisors LLC now owns 143,727 shares of the bank's stock valued at $6,843,000 after acquiring an additional 111,034 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of 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 valued at $136,236,000 after acquiring an additional 102,724 shares in the last quarter. 75.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on CATY shares. Piper Sandler lowered their target price on shares of Cathay General Bancorp from $45.00 to $43.00 and set an "underweight" rating on the stock in a report on Monday, January 27th. Stephens dropped 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. Finally, Keefe, Bruyette & Woods decreased their price objective 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $50.80.

Cathay General Bancorp Stock Performance

NASDAQ CATY traded down $0.02 during trading hours on Monday, reaching $38.08. The stock had a trading volume of 214,878 shares, compared to its average volume of 342,459. 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. The stock has a market cap of $2.68 billion, a P/E ratio of 9.53 and a beta of 0.99. The stock has a fifty day moving average of $45.02 and a 200 day moving average of $46.72.

Cathay General Bancorp (NASDAQ:CATY - Get Free Report) last posted its earnings results on Wednesday, January 22nd. The bank reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate 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 earnings per share for the current 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 $0.34 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.36 annualized dividend and a dividend yield of 3.57%. Cathay General Bancorp's dividend payout ratio (DPR) is 34.34%.

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.