Cathay General Bancorp (NASDAQ:CATY) Shares Acquired by Deutsche Bank AG

Deutsche Bank AG boosted its stake in Cathay General Bancorp (NASDAQ:CATY - Free Report) by 118.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 90,721 shares of the bank's stock after purchasing an additional 49,129 shares during the quarter. Deutsche Bank AG owned about 0.13% of Cathay General Bancorp worth $4,319,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Norges Bank bought a new stake in Cathay General Bancorp in the fourth quarter valued at approximately $36,231,000. JPMorgan Chase & Co. lifted 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 purchasing an additional 175,737 shares in the last quarter. Denali Advisors LLC raised its position in Cathay General Bancorp by 339.6% in the 4th 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 last quarter. Charles Schwab Investment Management Inc. raised its position in 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 valued at $136,236,000 after buying an additional 102,724 shares during the last quarter. Finally, Invesco Ltd. raised its position in Cathay General Bancorp by 6.0% in the 4th quarter. Invesco Ltd. now owns 1,519,442 shares of the bank's stock valued at $72,341,000 after buying an additional 85,963 shares during the last quarter. Institutional investors and hedge funds own 75.01% of the company's stock.

Insider Activity at Cathay General Bancorp

In other news, EVP Thomas M. Lo sold 729 shares of the business's 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 completion of the transaction, the executive vice president now directly owns 4,000 shares of the company's stock, valued at approximately $180,000. The trade was a 15.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 4.85% of the stock is owned by company insiders.

Cathay General Bancorp Stock Performance

CATY stock traded down $0.57 during trading on Thursday, reaching $43.12. The stock had a trading volume of 288,226 shares, compared to its average volume of 359,477. Cathay General Bancorp has a 52 week low of $34.75 and a 52 week high of $55.29. The stock's 50 day moving average is $41.76 and its two-hundred day moving average is $45.99. 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 firm has a market cap of $3.02 billion, a PE ratio of 10.89 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 EPS for the quarter, topping the consensus estimate of $0.95 by $0.03. The firm 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 last year, the company earned $1.05 earnings per share. As a group, equities analysts anticipate that Cathay General Bancorp will post 4.47 earnings per share for the current year.

Cathay General Bancorp Dividend Announcement

The business also recently announced 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 3.15%. The ex-dividend date of this dividend is Thursday, May 29th. Cathay General Bancorp's dividend payout ratio (DPR) is 34.34%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Keefe, Bruyette & Woods decreased their target price on Cathay General Bancorp from $56.00 to $55.00 and set a "market perform" rating for the company in a research report on Thursday, January 23rd. Jefferies Financial Group initiated coverage on Cathay General Bancorp in a report on Wednesday. They set a "buy" rating and a $53.00 target price for the company. Piper Sandler dropped their price target 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. Finally, Stephens reiterated an "overweight" rating and set a $51.00 price target on shares of Cathay General Bancorp in a research report on Tuesday, April 22nd. One equities 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 company. According to MarketBeat.com, Cathay General Bancorp has an average rating of "Hold" and a consensus price target of $50.17.

About Cathay General Bancorp

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.