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

Northern Trust Corp lifted its position in Cathay General Bancorp (NASDAQ:CATY - Free Report) by 2.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 957,773 shares of the bank's stock after acquiring an additional 22,055 shares during the period. Northern Trust Corp owned about 1.35% of Cathay General Bancorp worth $45,600,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Nomura Asset Management Co. Ltd. increased its stake in shares of Cathay General Bancorp by 63.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 850 shares of the bank's stock worth $40,000 after acquiring an additional 330 shares during the last quarter. Physician Wealth Advisors Inc. acquired a new stake in Cathay General Bancorp in the fourth quarter valued at approximately $55,000. Venturi Wealth Management LLC bought a new position in shares of Cathay General Bancorp in the 4th quarter valued at approximately $82,000. Smartleaf Asset Management LLC lifted its holdings in Cathay General Bancorp by 189.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,794 shares of the bank's stock worth $86,000 after purchasing an additional 1,175 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Cathay General Bancorp by 42.9% in the 4th quarter. GAMMA Investing LLC now owns 2,188 shares of the bank's stock worth $104,000 after purchasing 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 Down 0.9%

CATY stock traded down $0.41 during trading hours on Wednesday, reaching $44.78. 84,152 shares of the stock were exchanged, compared to its average volume of 354,149. The company has a market cap of $3.13 billion, a price-to-earnings ratio of 11.31 and a beta of 0.91. The firm's 50-day moving average is $41.64 and its 200-day moving average is $46.09. 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 has a 12 month low of $34.75 and a 12 month high of $55.29.

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 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 company 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 earned $1.05 EPS. On average, equities research analysts expect that Cathay General Bancorp will post 4.47 earnings per share for the current year.

Cathay General Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Thursday, February 27th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date was Thursday, February 27th. Cathay General Bancorp's payout ratio is currently 34.34%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Stephens restated an "overweight" rating and issued a $51.00 target price on shares of Cathay General Bancorp in a report on Tuesday, April 22nd. Keefe, Bruyette & Woods dropped their price objective on shares of Cathay General Bancorp from $56.00 to $55.00 and set a "market perform" rating for the company in a report on Thursday, January 23rd. Finally, Piper Sandler dropped their price objective on shares of Cathay General Bancorp from $45.00 to $43.00 and set an "underweight" rating for the company in a report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $49.60.

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.