BNP Paribas Financial Markets cut its holdings in Cathay General Bancorp (NASDAQ:CATY - Free Report) by 47.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,036 shares of the bank's stock after selling 14,591 shares during the period. BNP Paribas Financial Markets' holdings in Cathay General Bancorp were worth $763,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in CATY. Nomura Asset Management Co. Ltd. grew its stake in shares of Cathay General Bancorp by 63.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 850 shares of the bank's stock valued at $40,000 after acquiring an additional 330 shares in the last quarter. Physician Wealth Advisors Inc. bought a new stake in Cathay General Bancorp during the fourth quarter worth about $55,000. Venturi Wealth Management LLC bought a new stake in Cathay General Bancorp during the fourth quarter worth about $82,000. Smartleaf Asset Management LLC lifted its holdings in shares of Cathay General Bancorp by 189.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,794 shares of the bank's stock worth $86,000 after acquiring an additional 1,175 shares during the last quarter. Finally, KBC Group NV lifted its holdings 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 during the last quarter. 75.01% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, EVP Thomas M. Lo sold 729 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $45.00, for a total value of $32,805.00. Following the sale, the executive vice president now directly owns 4,000 shares of the company's stock, valued at approximately $180,000. This represents a 15.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 4.76% of the company's stock.
Analyst Ratings Changes
CATY has been the subject of several recent research reports. Jefferies Financial Group set a $53.00 price objective on Cathay General Bancorp and gave the company a "buy" rating in a research note on Wednesday, May 21st. Stephens restated an "overweight" rating and set a $51.00 price target on shares of Cathay General Bancorp in a report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $50.17.
View Our Latest Analysis on Cathay General Bancorp
Cathay General Bancorp Stock Performance
CATY traded down $0.40 during trading hours on Wednesday, hitting $43.65. The stock had a trading volume of 14,874 shares, compared to its average volume of 358,396. The company's fifty day simple moving average is $41.74 and its 200 day simple moving average is $45.81. Cathay General Bancorp has a 1 year low of $34.75 and a 1 year high of $55.29. The stock has a market cap of $3.06 billion, a PE ratio of 11.00 and a beta of 0.91. 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 (NASDAQ:CATY - Get Free Report) last issued its quarterly earnings results on Monday, April 21st. The bank reported $0.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.95 by $0.03. The firm had revenue of $187.84 million during 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 last year, the company posted $1.05 EPS. Equities 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 will be paid on Monday, June 9th. Shareholders of record on Thursday, May 29th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $1.36 dividend on an annualized basis and a yield of 3.12%. Cathay General Bancorp's dividend payout ratio (DPR) is currently 34.34%.
About Cathay General Bancorp
(
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.
Recommended Stories
Before you consider Cathay General Bancorp, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cathay General Bancorp wasn't on the list.
While Cathay General Bancorp currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
