Cathay General Bancorp (NASDAQ:CATY) Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC boosted its position in Cathay General Bancorp (NASDAQ:CATY - Free Report) by 109.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 36,749 shares of the bank's stock after purchasing an additional 19,165 shares during the period. Hsbc Holdings PLC owned approximately 0.05% of Cathay General Bancorp worth $1,757,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Norges Bank purchased a new position in Cathay General Bancorp during the 4th quarter valued at $36,231,000. Assenagon Asset Management S.A. grew its holdings in shares of Cathay General Bancorp by 821.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 381,764 shares of the bank's stock worth $18,176,000 after purchasing an additional 340,329 shares during the last quarter. JPMorgan Chase & Co. increased its stake in 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 buying an additional 175,737 shares during the period. Denali Advisors LLC lifted its holdings in Cathay General Bancorp by 339.6% during 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted 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 period. Institutional investors own 75.01% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CATY. Piper Sandler decreased 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 note on Monday, January 27th. Stephens reaffirmed an "overweight" rating and set a $51.00 target price on shares of Cathay General Bancorp in a report on Tuesday, April 22nd. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Cathay General Bancorp from $56.00 to $55.00 and set a "market perform" rating on the stock in a research note on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $49.60.

Cathay General Bancorp Trading Up 0.4 %

NASDAQ:CATY traded up $0.17 on Wednesday, hitting $42.40. The stock had a trading volume of 55,332 shares, compared to its average volume of 351,486. Cathay General Bancorp has a 1-year low of $34.75 and a 1-year high of $55.29. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.07. The stock has a market cap of $2.97 billion, a price-to-earnings ratio of 10.71 and a beta of 0.91. The company has a fifty day moving average price of $41.84 and a two-hundred day moving average price of $46.14.

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 for the quarter, topping analysts' consensus estimates of $0.95 by $0.03. Cathay General Bancorp had a net margin of 20.57% and a return on equity of 10.70%. The firm had revenue of $187.84 million during the quarter, compared to analysts' expectations of $186.17 million. During the same quarter last year, the company posted $1.05 EPS. Equities research analysts expect that Cathay General Bancorp will post 4.47 earnings per share for the current fiscal year.

Cathay General Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Thursday, February 27th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend was Thursday, February 27th. Cathay General Bancorp's dividend payout ratio is currently 34.34%.

Cathay General Bancorp Company 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.