Hsbc Holdings PLC Buys 19,165 Shares of Cathay General Bancorp (NASDAQ:CATY)

Hsbc Holdings PLC raised its position in shares of Cathay General Bancorp (NASDAQ:CATY - Free Report) by 109.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,749 shares of the bank's stock after acquiring 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 SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CATY. Nomura Asset Management Co. Ltd. boosted its stake in Cathay General Bancorp by 63.5% during the 4th 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. bought a new position in Cathay General Bancorp in the 4th quarter worth approximately $55,000. Venturi Wealth Management LLC acquired a new position in shares of Cathay General Bancorp during the fourth quarter worth approximately $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 valued at $86,000 after acquiring an additional 1,175 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Cathay General Bancorp by 42.9% in the fourth quarter. GAMMA Investing LLC now owns 2,188 shares of the bank's stock worth $104,000 after acquiring an additional 657 shares during the last quarter. 75.01% of the stock is owned by institutional investors and hedge funds.

Cathay General Bancorp Stock Performance

Cathay General Bancorp stock traded up $0.89 on Friday, hitting $42.94. The company's stock had a trading volume of 273,261 shares, compared to its average volume of 353,044. Cathay General Bancorp has a one year low of $34.75 and a one year high of $55.29. The firm has a market cap of $3.01 billion, a P/E ratio of 10.84 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. The company has a fifty day moving average price of $41.99 and a 200-day moving average price of $46.19.

Cathay General Bancorp (NASDAQ:CATY - Get Free Report) last posted its quarterly earnings results on Monday, April 21st. The bank reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.03. The firm had revenue of $187.84 million during the quarter, compared to analyst estimates of $186.17 million. Cathay General Bancorp had a net margin of 20.57% and a return on equity of 10.70%. During the same quarter in the prior year, the business posted $1.05 earnings per share. On average, 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 declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Thursday, February 27th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.17%. The ex-dividend date was Thursday, February 27th. Cathay General Bancorp's dividend payout ratio is 34.34%.

Analyst Ratings Changes

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

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.