ProShare Advisors LLC Raises Holdings in Cathay General Bancorp (NASDAQ:CATY)

ProShare Advisors LLC raised its holdings in shares of Cathay General Bancorp (NASDAQ:CATY - Free Report) by 44.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,010 shares of the bank's stock after acquiring an additional 6,436 shares during the quarter. ProShare Advisors LLC's holdings in Cathay General Bancorp were worth $1,000,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Cathay General Bancorp by 4.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,635 shares of the bank's stock valued at $1,887,000 after acquiring an additional 1,545 shares during the period. Deutsche Bank AG grew its position in shares of Cathay General Bancorp by 118.1% during the 4th quarter. Deutsche Bank AG now owns 90,721 shares of the bank's stock valued at $4,319,000 after purchasing an additional 49,129 shares in the last quarter. Dean Capital Management grew its position in shares of Cathay General Bancorp by 39.7% during the 4th quarter. Dean Capital Management now owns 45,330 shares of the bank's stock valued at $2,158,000 after purchasing an additional 12,884 shares in the last quarter. Cetera Investment Advisers grew its position in shares of Cathay General Bancorp by 0.8% during the 4th quarter. Cetera Investment Advisers now owns 31,770 shares of the bank's stock valued at $1,513,000 after purchasing an additional 255 shares in the last quarter. Finally, Centiva Capital LP purchased a new position in shares of Cathay General Bancorp during the 4th quarter valued at $265,000. Institutional investors own 75.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Stephens restated an "overweight" rating and set a $51.00 price target on shares of Cathay General Bancorp in a research report on Tuesday, April 22nd. Piper Sandler reduced 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. Finally, Jefferies Financial Group set a $53.00 price target on shares of Cathay General Bancorp and gave the company a "buy" rating in a research report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $50.17.

Insider Transactions at Cathay General Bancorp

In related news, EVP Thomas M. Lo sold 729 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $45.00, for a total transaction of $32,805.00. Following the completion of the sale, the executive vice president now directly owns 4,000 shares in the company, valued at $180,000. This represents a 15.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 4.85% of the company's stock.

Cathay General Bancorp Price Performance

Shares of CATY traded up $1.15 during midday trading on Tuesday, reaching $44.00. The stock had a trading volume of 97,265 shares, compared to its average volume of 359,159. The company's 50-day moving average is $41.72 and its 200 day moving average is $45.83. Cathay General Bancorp has a 12-month low of $34.75 and a 12-month high of $55.29. 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 company has a market capitalization of $3.08 billion, a price-to-earnings ratio of 11.12 and a beta of 0.91.

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

Cathay General Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Thursday, May 29th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date is Thursday, May 29th. Cathay General Bancorp's payout ratio is currently 34.34%.

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.