Cathay General Bancorp (NASDAQ:CATY) Shares Bought by Stieven Capital Advisors L.P.

Stieven Capital Advisors L.P. increased its holdings in Cathay General Bancorp (NASDAQ:CATY - Free Report) by 2.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 262,004 shares of the bank's stock after acquiring an additional 5,600 shares during the quarter. Cathay General Bancorp makes up 2.2% of Stieven Capital Advisors L.P.'s portfolio, making the stock its 16th biggest position. Stieven Capital Advisors L.P. owned 0.37% of Cathay General Bancorp worth $12,474,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CATY. CWM LLC lifted its stake in shares of Cathay General Bancorp by 19.9% in the third quarter. CWM LLC now owns 1,517 shares of the bank's stock worth $65,000 after acquiring an additional 252 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Cathay General Bancorp by 42.9% in the fourth quarter. GAMMA Investing LLC now owns 2,188 shares of the bank's stock worth $104,000 after acquiring an additional 657 shares in the last quarter. KBC Group NV lifted its stake in shares of Cathay General Bancorp by 68.5% in the fourth quarter. KBC Group NV now owns 3,730 shares of the bank's stock worth $178,000 after acquiring an additional 1,517 shares in the last quarter. CIBC Asset Management Inc acquired a new position in shares of Cathay General Bancorp in the third quarter worth about $201,000. Finally, SG Americas Securities LLC raised its stake in Cathay General Bancorp by 96.6% during the fourth quarter. SG Americas Securities LLC now owns 5,411 shares of the bank's stock valued at $258,000 after buying an additional 2,659 shares in the last quarter. Institutional investors and hedge funds own 75.01% of the company's stock.

Analysts Set New Price Targets

CATY has been the topic of several research reports. 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 research note on Thursday, January 23rd. Stephens cut their price objective on Cathay General Bancorp from $60.00 to $57.00 and set an "overweight" rating on the stock in a research note on Thursday, January 23rd. Wedbush upped their price objective on Cathay General Bancorp from $50.00 to $52.00 and gave the company an "outperform" rating in a research note on Wednesday, October 23rd. Finally, Piper Sandler cut their price objective on Cathay General Bancorp from $45.00 to $43.00 and set an "underweight" rating on the stock in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Cathay General Bancorp currently has a consensus rating of "Hold" and a consensus target price of $50.80.

Cathay General Bancorp Price Performance

NASDAQ CATY remained flat at $46.87 on Wednesday. The company's stock had a trading volume of 258,886 shares, compared to its average volume of 322,693. The stock's 50 day moving average price is $47.69 and its two-hundred day moving average price is $46.32. 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 company has a market capitalization of $3.34 billion, a P/E ratio of 11.84 and a beta of 1.12. Cathay General Bancorp has a 52-week low of $33.88 and a 52-week high of $55.29.

Cathay General Bancorp (NASDAQ:CATY - Get Free Report) last issued its quarterly earnings results on Wednesday, January 22nd. The bank reported $1.12 earnings per share (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%. As a group, equities research analysts forecast that Cathay General Bancorp will post 4.47 EPS for the current fiscal year.

Cathay General Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Thursday, February 27th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.90%. Cathay General Bancorp's dividend payout ratio (DPR) is presently 34.34%.

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.