Trexquant Investment LP Increases Position in Cathay General Bancorp (NASDAQ:CATY)

Trexquant Investment LP grew its holdings in Cathay General Bancorp (NASDAQ:CATY - Free Report) by 299.6% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 21,500 shares of the bank's stock after buying an additional 16,119 shares during the period. Trexquant Investment LP's holdings in Cathay General Bancorp were worth $1,024,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CATY. Charles Schwab Investment Management Inc. grew its position 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 buying an additional 102,724 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Cathay General Bancorp by 1.2% in the third quarter. Geode Capital Management LLC now owns 1,713,650 shares of the bank's stock valued at $73,615,000 after buying an additional 20,840 shares in the last quarter. American Century Companies Inc. grew its holdings in Cathay General Bancorp by 5.2% during the fourth quarter. American Century Companies Inc. now owns 1,471,066 shares of the bank's stock worth $70,037,000 after acquiring an additional 72,532 shares during the period. Norges Bank purchased a new position in Cathay General Bancorp in the fourth quarter worth $36,231,000. Finally, Assenagon Asset Management S.A. boosted its position in shares of Cathay General Bancorp by 821.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 381,764 shares of the bank's stock worth $18,176,000 after purchasing an additional 340,329 shares in the last quarter. Institutional investors and hedge funds own 75.01% of the company's stock.

Cathay General Bancorp Trading Down 0.4 %

CATY traded down $0.17 during midday trading on Wednesday, hitting $38.16. The company's stock had a trading volume of 69,432 shares, compared to its average volume of 348,572. 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 market cap of $2.68 billion, a P/E ratio of 9.62 and a beta of 0.99. The firm has a 50-day moving average price of $43.40 and a two-hundred day moving average price of $46.38. 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 announced its quarterly earnings results on Wednesday, January 22nd. The bank reported $1.12 earnings per share (EPS) 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, research analysts anticipate that Cathay General Bancorp will post 4.47 earnings per share for the current year.

Cathay General Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Thursday, February 27th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date was Thursday, February 27th. Cathay General Bancorp's dividend payout ratio is presently 34.34%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CATY. 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 for the company in a research report on Thursday, January 23rd. Stephens cut their target price 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 cut their price objective on 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 analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus 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.