Proficio Capital Partners LLC Invests $2.02 Million in Cathay General Bancorp (NASDAQ:CATY)

Proficio Capital Partners LLC bought a new position in shares of Cathay General Bancorp (NASDAQ:CATY - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 42,348 shares of the bank's stock, valued at approximately $2,016,000. Proficio Capital Partners LLC owned about 0.06% of Cathay General Bancorp as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of CATY. CIBC Asset Management Inc bought a new position in shares of Cathay General Bancorp during the third quarter worth $201,000. Royce & Associates LP boosted its position in shares of Cathay General Bancorp by 25.4% during the third quarter. Royce & Associates LP now owns 49,420 shares of the bank's stock worth $2,123,000 after acquiring an additional 10,022 shares during the last quarter. Natixis Advisors LLC bought a new position in shares of Cathay General Bancorp during the third quarter worth $512,000. LMR Partners LLP bought a new position in shares of Cathay General Bancorp during the third quarter worth $318,000. Finally, Intech Investment Management LLC bought a new position in Cathay General Bancorp during the third quarter valued at $524,000. Institutional investors own 75.01% of the company's stock.

Cathay General Bancorp Trading Up 0.3 %

Shares of Cathay General Bancorp stock traded up $0.14 during trading on Friday, hitting $43.28. The stock had a trading volume of 2,974,843 shares, compared to its average volume of 322,898. The firm's fifty day simple moving average is $46.11 and its 200-day simple moving average is $46.69. The stock has a market cap of $3.04 billion, a PE ratio of 10.93 and a beta of 1.09. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.03 and a quick ratio of 1.03. Cathay General Bancorp has a 12 month low of $33.88 and a 12 month high of $55.29.

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Cathay General Bancorp (NASDAQ:CATY - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The bank reported $1.12 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%. As a group, sell-side analysts expect that Cathay General Bancorp will post 4.47 EPS 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 given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend was Thursday, February 27th. Cathay General Bancorp's dividend payout ratio (DPR) is 34.34%.

Analyst Ratings Changes

Several research firms have commented on CATY. Keefe, Bruyette & Woods lowered 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 report on Thursday, January 23rd. Stephens lowered 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 report on Thursday, January 23rd. Finally, Piper Sandler lowered 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 report on Monday, January 27th. 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus 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.