Caxton Associates LP Reduces Position in Cathay General Bancorp (NASDAQ:CATY)

Caxton Associates LP trimmed its stake in shares of Cathay General Bancorp (NASDAQ:CATY - Free Report) by 68.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,979 shares of the bank's stock after selling 12,913 shares during the period. Caxton Associates LP's holdings in Cathay General Bancorp were worth $285,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in CATY. Norges Bank bought a new stake in Cathay General Bancorp during the fourth quarter valued at approximately $36,231,000. Assenagon Asset Management S.A. grew its position in Cathay General Bancorp by 821.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 381,764 shares of the bank's stock valued at $18,176,000 after buying an additional 340,329 shares during the period. JPMorgan Chase & Co. grew its position in Cathay General Bancorp by 112.6% during the fourth quarter. JPMorgan Chase & Co. now owns 331,862 shares of the bank's stock valued at $15,800,000 after buying an additional 175,737 shares during the period. Denali Advisors LLC grew its position in Cathay General Bancorp by 339.6% during the fourth quarter. Denali Advisors LLC now owns 143,727 shares of the bank's stock valued at $6,843,000 after buying an additional 111,034 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Cathay General Bancorp by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,861,501 shares of the bank's stock worth $136,236,000 after purchasing an additional 102,724 shares during the period. 75.01% of the stock is currently owned by institutional investors.

Cathay General Bancorp Price Performance

Cathay General Bancorp stock traded down $0.12 during mid-day trading on Tuesday, reaching $45.06. 55,726 shares of the company's stock traded hands, compared to its average volume of 353,648. The company has a market cap of $3.15 billion, a price-to-earnings ratio of 11.38 and a beta of 0.91. The stock has a 50 day moving average of $41.63 and a two-hundred day moving average of $46.10. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.07. Cathay General Bancorp has a 12-month low of $34.75 and a 12-month high of $55.29.

Cathay General Bancorp (NASDAQ:CATY - Get Free Report) last announced its earnings results on Monday, April 21st. The bank reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.03. The business had revenue of $187.84 million for the quarter, compared to the consensus estimate of $186.17 million. Cathay General Bancorp had a net margin of 20.57% and a return on equity of 10.70%. During the same quarter in the prior year, the firm posted $1.05 earnings per share. Equities analysts forecast that Cathay General Bancorp will post 4.47 earnings per share for the current 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 3.02%. 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

A number of equities analysts have weighed in on CATY shares. Piper Sandler dropped their price target 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. Stephens reissued an "overweight" rating and issued a $51.00 target price on shares of Cathay General Bancorp in a report on Tuesday, April 22nd. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Cathay General Bancorp from $56.00 to $55.00 and set a "market perform" rating on the stock in a report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $49.60.

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.