Intech Investment Management LLC Increases Stake in Cathay General Bancorp (NASDAQ:CATY)

Intech Investment Management LLC lifted its stake in shares of Cathay General Bancorp (NASDAQ:CATY - Free Report) by 191.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,558 shares of the bank's stock after purchasing an additional 23,356 shares during the period. Intech Investment Management LLC's holdings in Cathay General Bancorp were worth $1,693,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Assenagon Asset Management S.A. boosted its holdings 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 during the last quarter. Denali Advisors LLC increased its position in shares of Cathay General Bancorp by 339.6% during the fourth quarter. Denali Advisors LLC now owns 143,727 shares of the bank's stock worth $6,843,000 after purchasing an additional 111,034 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Cathay General Bancorp by 3.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,861,501 shares of the bank's stock valued at $136,236,000 after purchasing an additional 102,724 shares during the last quarter. Barclays PLC lifted its holdings in Cathay General Bancorp by 104.3% in the 3rd quarter. Barclays PLC now owns 145,690 shares of the bank's stock valued at $6,257,000 after purchasing an additional 74,394 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Cathay General Bancorp during the fourth quarter worth $2,016,000. Institutional investors and hedge funds own 75.01% of the company's stock.

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Cathay General Bancorp Trading Down 0.6 %

CATY stock traded down $0.27 during mid-day trading on Tuesday, hitting $43.98. 335,246 shares of the company were exchanged, compared to its average volume of 321,015. Cathay General Bancorp has a 12-month low of $33.88 and a 12-month high of $55.29. 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 business has a fifty day simple moving average of $46.00 and a 200-day simple moving average of $46.74. The firm has a market capitalization of $3.09 billion, a P/E ratio of 11.11 and a beta of 1.09.

Cathay General Bancorp (NASDAQ:CATY - Get Free Report) last released its earnings results on Wednesday, January 22nd. The bank reported $1.12 earnings per share for the quarter, beating 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%. On average, equities research analysts predict that Cathay General Bancorp will post 4.47 earnings per share for the current fiscal year.

Cathay General Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Thursday, February 27th were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.36 dividend on an annualized basis and a yield of 3.09%. Cathay General Bancorp's dividend payout ratio (DPR) is presently 34.34%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CATY. Stephens lowered their price target on shares of Cathay General Bancorp from $60.00 to $57.00 and set an "overweight" rating on the stock in a research report on Thursday, January 23rd. Piper Sandler dropped their price target 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. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Cathay General Bancorp from $56.00 to $55.00 and set a "market perform" rating on the stock in a research report on Thursday, January 23rd. One equities research 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. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target 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.