Intech Investment Management LLC boosted its holdings in Cathay General Bancorp (NASDAQ:CATY - Free Report) by 191.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,558 shares of the bank's stock after acquiring an additional 23,356 shares during the quarter. Intech Investment Management LLC's holdings in Cathay General Bancorp were worth $1,693,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. CIBC Asset Management Inc acquired a new position in shares of Cathay General Bancorp in the 3rd quarter worth approximately $201,000. Natixis Advisors LLC acquired a new position in Cathay General Bancorp in the third quarter worth approximately $512,000. Charles Schwab Investment Management Inc. grew its position in Cathay General Bancorp by 3.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,758,777 shares of the bank's stock worth $118,489,000 after buying an additional 87,847 shares during the last quarter. Citigroup Inc. increased its holdings in shares of Cathay General Bancorp by 9.8% in the third quarter. Citigroup Inc. now owns 135,681 shares of the bank's stock valued at $5,827,000 after buying an additional 12,132 shares in the last quarter. Finally, Algert Global LLC boosted its stake in shares of Cathay General Bancorp by 23.5% during the 3rd quarter. Algert Global LLC now owns 76,576 shares of the bank's stock worth $3,289,000 after acquiring an additional 14,590 shares in the last quarter. 75.01% of the stock is currently owned by institutional investors.
Cathay General Bancorp Stock Down 0.9 %
NASDAQ:CATY traded down $0.38 on Wednesday, hitting $43.60. 314,927 shares of the company's stock traded hands, compared to its average volume of 320,999. The company has a market cap of $3.06 billion, a PE ratio of 11.01 and a beta of 1.09. Cathay General Bancorp has a 1 year low of $33.88 and a 1 year high of $55.29. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average price of $46.00 and a 200-day moving average price of $46.74.
Cathay General Bancorp (NASDAQ:CATY - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The bank reported $1.12 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%. Equities analysts anticipate that Cathay General Bancorp will post 4.47 EPS for the current fiscal year.
Cathay General Bancorp Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Thursday, February 27th were issued 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 3.12%. Cathay General Bancorp's dividend payout ratio is 34.34%.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on CATY. Stephens cut their target price on 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. Keefe, Bruyette & Woods cut their price objective on Cathay General Bancorp from $56.00 to $55.00 and set a "market perform" rating on the stock in a report on Thursday, January 23rd. Finally, Piper Sandler decreased their target price on shares of 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 research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $50.80.
Check Out Our Latest Report on Cathay General Bancorp
Cathay General Bancorp Profile
(
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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