Centiva Capital LP acquired a new stake in shares of Cathay General Bancorp (NASDAQ:CATY - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 5,564 shares of the bank's stock, valued at approximately $265,000.
A number of other institutional investors also recently added to or reduced their stakes in CATY. Norges Bank acquired a new stake in Cathay General Bancorp during the fourth quarter valued at approximately $36,231,000. Assenagon Asset Management S.A. boosted its holdings in shares of Cathay General Bancorp by 821.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 381,764 shares of the bank's stock worth $18,176,000 after acquiring an additional 340,329 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Cathay General Bancorp by 112.6% in the 4th quarter. JPMorgan Chase & Co. now owns 331,862 shares of the bank's stock worth $15,800,000 after acquiring an additional 175,737 shares in the last quarter. Denali Advisors LLC boosted its holdings in shares of Cathay General Bancorp by 339.6% in the 4th quarter. Denali Advisors LLC now owns 143,727 shares of the bank's stock worth $6,843,000 after acquiring an additional 111,034 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of 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 worth $136,236,000 after acquiring an additional 102,724 shares in the last quarter. 75.01% of the stock is owned by institutional investors and hedge funds.
Cathay General Bancorp Stock Up 5.2%
NASDAQ:CATY opened at $45.18 on Tuesday. The stock's fifty day moving average price is $41.63 and its two-hundred day moving average price is $46.10. The company has a market cap of $3.16 billion, a price-to-earnings ratio of 11.41 and a beta of 0.91. Cathay General Bancorp has a 52-week low of $34.75 and a 52-week high of $55.29. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.03 and a current ratio of 1.03.
Cathay General Bancorp (NASDAQ:CATY - Get Free Report) last posted its quarterly earnings results on Monday, April 21st. The bank reported $0.98 earnings per share for the quarter, beating analysts' consensus estimates of $0.95 by $0.03. The company had revenue of $187.84 million for the quarter, compared to the consensus estimate of $186.17 million. Cathay General Bancorp had a return on equity of 10.70% and a net margin of 20.57%. During the same quarter in the prior year, the business posted $1.05 EPS. On average, analysts anticipate that Cathay General Bancorp will post 4.47 EPS for the current year.
Cathay General Bancorp Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Thursday, February 27th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date was Thursday, February 27th. Cathay General Bancorp's dividend payout ratio (DPR) is currently 34.34%.
Wall Street Analyst Weigh In
CATY has been the topic of several recent analyst reports. 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. 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 reduced their price objective on 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 investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $49.60.
Get Our Latest Analysis on Cathay General Bancorp
Cathay General Bancorp Profile
(
Free Report)
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.
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