Northern Trust Corp Has $45.60 Million Stock Holdings in Cathay General Bancorp (NASDAQ:CATY)

Northern Trust Corp boosted its holdings in Cathay General Bancorp (NASDAQ:CATY - Free Report) by 2.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 957,773 shares of the bank's stock after buying an additional 22,055 shares during the period. Northern Trust Corp owned approximately 1.35% of Cathay General Bancorp worth $45,600,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CATY. Nomura Asset Management Co. Ltd. grew its position in shares of Cathay General Bancorp by 63.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 850 shares of the bank's stock worth $40,000 after buying an additional 330 shares in the last quarter. Physician Wealth Advisors Inc. bought a new stake in shares of Cathay General Bancorp during the fourth quarter valued at about $55,000. Venturi Wealth Management LLC bought a new stake in shares of Cathay General Bancorp during the fourth quarter valued at about $82,000. Smartleaf Asset Management LLC raised its position in 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 acquiring an additional 1,175 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in 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 in the last quarter. Hedge funds and other institutional investors own 75.01% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on CATY. Piper Sandler cut their price objective on Cathay General Bancorp from $45.00 to $43.00 and set an "underweight" rating on the stock in a report on Monday, January 27th. Keefe, Bruyette & Woods dropped their target price on Cathay General Bancorp from $56.00 to $55.00 and set a "market perform" rating on the stock in a report on Thursday, January 23rd. Finally, Stephens reiterated an "overweight" rating and issued a $51.00 target price on shares of Cathay General Bancorp in a report on Tuesday, April 22nd. 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, the stock presently has an average rating of "Hold" and a consensus target price of $49.60.

Cathay General Bancorp Stock Performance

CATY stock traded up $2.24 on Monday, reaching $45.18. 458,754 shares of the company were exchanged, compared to its average volume of 354,826. Cathay General Bancorp has a 12 month low of $34.75 and a 12 month high of $55.29. The stock's fifty day moving average price is $41.62 and its 200 day moving average price is $46.10. The firm has a market capitalization of $3.16 billion, a PE ratio of 11.41 and a beta of 0.91. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.03 and a quick ratio of 1.03.

Cathay General Bancorp (NASDAQ:CATY - Get Free Report) last announced its earnings results 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. The business had revenue of $187.84 million for 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 previous year, the firm posted $1.05 earnings per share. On average, research analysts anticipate that Cathay General Bancorp will post 4.47 EPS for the current fiscal year.

Cathay General Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Thursday, February 27th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend was Thursday, February 27th. Cathay General Bancorp's dividend payout ratio (DPR) is presently 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.