Legato Capital Management LLC Increases Position in Cathay General Bancorp (NASDAQ:CATY)

Legato Capital Management LLC boosted its position in Cathay General Bancorp (NASDAQ:CATY - Free Report) by 39.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,504 shares of the bank's stock after purchasing an additional 7,992 shares during the quarter. Legato Capital Management LLC's holdings in Cathay General Bancorp were worth $1,357,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of CATY. CWM LLC lifted its position in shares of Cathay General Bancorp by 19.9% during the 3rd quarter. CWM LLC now owns 1,517 shares of the bank's stock worth $65,000 after buying an additional 252 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Cathay General Bancorp by 24.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,531 shares of the bank's stock worth $66,000 after buying an additional 305 shares during the last quarter. KBC Group NV lifted its position in shares of Cathay General Bancorp by 68.5% during the 4th quarter. KBC Group NV now owns 3,730 shares of the bank's stock worth $178,000 after buying an additional 1,517 shares during the last quarter. CIBC Asset Management Inc bought a new stake in shares of Cathay General Bancorp during the 3rd quarter worth $201,000. Finally, SG Americas Securities LLC lifted its position in shares of Cathay General Bancorp by 96.6% during the 4th quarter. SG Americas Securities LLC now owns 5,411 shares of the bank's stock worth $258,000 after buying an additional 2,659 shares during the last quarter. 75.01% of the stock is currently owned by institutional investors.

Cathay General Bancorp Trading Down 0.0 %

NASDAQ CATY traded down $0.01 during trading hours on Friday, hitting $46.58. 193,346 shares of the company's stock were exchanged, compared to its average volume of 337,030. The stock has a 50-day simple moving average of $47.86 and a 200 day simple moving average of $46.23. Cathay General Bancorp has a 1-year low of $33.88 and a 1-year high of $55.29. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of 11.76 and a beta of 1.12. 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 (NASDAQ:CATY - Get Free Report) last issued its quarterly earnings results 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 return on equity of 10.70% and a net margin of 20.57%. On average, equities analysts forecast that Cathay General Bancorp will post 4.29 EPS for the current fiscal year.

Cathay General Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Thursday, February 27th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.92%. Cathay General Bancorp's payout ratio is 34.34%.

Analyst Ratings Changes

CATY has been the subject of a number of recent research reports. Piper Sandler lowered their target price 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. Keefe, Bruyette & Woods lowered their target price 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. Wedbush upped their target price on Cathay General Bancorp from $50.00 to $52.00 and gave the stock an "outperform" rating in a report on Wednesday, October 23rd. Finally, Stephens decreased their price target on 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. One investment 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. According to MarketBeat.com, the company 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.