Susquehanna International Group LLP Sells 23,961 Shares of Cathay General Bancorp (NASDAQ:CATY)

Susquehanna International Group LLP lessened its stake in Cathay General Bancorp (NASDAQ:CATY - Free Report) by 33.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 48,008 shares of the bank's stock after selling 23,961 shares during the quarter. Susquehanna International Group LLP owned approximately 0.07% of Cathay General Bancorp worth $2,286,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Cathay General Bancorp by 17.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,236 shares of the bank's stock valued at $2,509,000 after purchasing an additional 7,837 shares during the period. Barclays PLC lifted its holdings in Cathay General Bancorp by 104.3% in the 3rd quarter. Barclays PLC now owns 145,690 shares of the bank's stock valued at $6,257,000 after purchasing an additional 74,394 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Cathay General Bancorp by 6.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 156,125 shares of the bank's stock worth $6,706,000 after acquiring an additional 9,724 shares during the period. Sei Investments Co. raised its position in Cathay General Bancorp by 31.2% in the fourth quarter. Sei Investments Co. now owns 14,674 shares of the bank's stock valued at $699,000 after purchasing an additional 3,490 shares during the period. Finally, Xponance Inc. acquired a new stake in shares of Cathay General Bancorp during the fourth quarter worth approximately $239,000. Institutional investors own 75.01% of the company's stock.

Cathay General Bancorp Price Performance

Shares of CATY traded down $0.41 on Wednesday, reaching $44.78. The stock had a trading volume of 84,152 shares, compared to its average volume of 354,149. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $3.13 billion, a PE ratio of 11.31 and a beta of 0.91. Cathay General Bancorp has a twelve month low of $34.75 and a twelve month high of $55.29. The firm has a 50-day moving average of $41.64 and a 200 day moving average of $46.09.

Cathay General Bancorp (NASDAQ:CATY - Get Free Report) last posted its quarterly earnings data on Monday, April 21st. The bank reported $0.98 EPS for the quarter, beating analysts' consensus estimates of $0.95 by $0.03. Cathay General Bancorp had a net margin of 20.57% and a return on equity of 10.70%. The company had revenue of $187.84 million during the quarter, compared to analyst estimates of $186.17 million. During the same period in the prior year, the firm earned $1.05 earnings per share. Sell-side analysts expect that Cathay General Bancorp will post 4.47 EPS for the current year.

Cathay General Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Thursday, February 27th were given 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 3.04%. Cathay General Bancorp's dividend payout ratio is currently 34.34%.

Analysts Set New Price Targets

CATY has been the subject of a number of analyst reports. Stephens reaffirmed an "overweight" rating and set a $51.00 price objective on shares of Cathay General Bancorp in a research note on Tuesday, April 22nd. Piper Sandler reduced their target price on Cathay General Bancorp from $45.00 to $43.00 and set an "underweight" rating on the stock in a report on Monday, January 27th. Finally, Keefe, Bruyette & Woods reduced their price objective on Cathay General Bancorp from $56.00 to $55.00 and set a "market perform" rating for the company in a research note on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, Cathay General Bancorp presently has a consensus rating of "Hold" and an average price target of $49.60.

Cathay General Bancorp Company 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.