Cathay General Bancorp (NASDAQ:CATY) Position Boosted by Deutsche Bank AG

Deutsche Bank AG lifted its holdings in shares of Cathay General Bancorp (NASDAQ:CATY - Free Report) by 118.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,721 shares of the bank's stock after acquiring an additional 49,129 shares during the quarter. Deutsche Bank AG owned about 0.13% of Cathay General Bancorp worth $4,319,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nomura Asset Management Co. Ltd. raised its position in 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 purchasing an additional 330 shares during the period. Physician Wealth Advisors Inc. purchased a new stake in shares of Cathay General Bancorp in the fourth quarter worth about $55,000. Venturi Wealth Management LLC purchased a new stake in shares of Cathay General Bancorp in the fourth quarter worth about $82,000. Smartleaf Asset Management LLC boosted its position 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 buying an additional 1,175 shares during the period. Finally, KBC Group NV boosted its position 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 buying an additional 1,517 shares during the period. Institutional investors and hedge funds own 75.01% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Piper Sandler decreased their target price on 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. Jefferies Financial Group set a $53.00 price target on Cathay General Bancorp and gave the stock a "buy" rating in a research note on Wednesday. Finally, Stephens reiterated an "overweight" rating and issued a $51.00 price target on shares of Cathay General Bancorp in a research note on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $50.17.

Insider Buying and Selling

In related news, EVP Thomas M. Lo sold 729 shares of the firm's stock in a transaction that occurred 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 owns 4,000 shares of the company's stock, valued at approximately $180,000. This trade represents a 15.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 4.85% of the company's stock.

Cathay General Bancorp Stock Down 0.6%

Shares of NASDAQ:CATY traded down $0.27 during trading on Friday, hitting $42.85. The company's stock had a trading volume of 271,136 shares, compared to its average volume of 360,190. 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 has a fifty-two week low of $34.75 and a fifty-two week high of $55.29. The stock's 50-day moving average price is $41.74 and its two-hundred day moving average price is $45.88. The company has a market capitalization of $3.00 billion, a PE ratio of 10.82 and a beta of 0.91.

Cathay General Bancorp (NASDAQ:CATY - Get Free Report) last announced its quarterly earnings data on Monday, April 21st. The bank reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $186.17 million. During the same quarter in the prior year, the firm posted $1.05 earnings per share. As a group, sell-side analysts expect 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 will be paid on Monday, June 9th. Investors of record on Thursday, May 29th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 3.17%. The ex-dividend date is Thursday, May 29th. Cathay General Bancorp's dividend payout ratio (DPR) is 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.