Raymond James Financial Inc. acquired a new stake in Cathay General Bancorp (NASDAQ:CATY - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 8,326 shares of the bank's stock, valued at approximately $396,000.
Several other institutional investors have also recently bought and sold shares of CATY. Nomura Asset Management Co. Ltd. lifted its stake 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 valued at $40,000 after acquiring an additional 330 shares during the period. Physician Wealth Advisors Inc. acquired a new position in shares of Cathay General Bancorp during the fourth quarter valued at $55,000. Venturi Wealth Management LLC acquired a new position in shares of Cathay General Bancorp during the fourth quarter valued at $82,000. Smartleaf Asset Management LLC lifted its stake in shares of Cathay General Bancorp by 189.8% during 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 lifted its stake in shares of Cathay General Bancorp by 42.9% during the fourth quarter. GAMMA Investing LLC now owns 2,188 shares of the bank's stock valued at $104,000 after acquiring an additional 657 shares during the period. Institutional investors own 75.01% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on CATY. Stephens reiterated an "overweight" rating and issued a $51.00 price objective on shares of Cathay General Bancorp in a report on Tuesday, April 22nd. Keefe, Bruyette & Woods dropped their price objective on 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 lowered their price target on 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 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's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $49.60.
Get Our Latest Analysis on Cathay General Bancorp
Cathay General Bancorp Stock Down 0.0%
NASDAQ CATY traded down $0.00 during trading hours on Thursday, hitting $44.32. 72,076 shares of the company traded hands, compared to its average volume of 354,762. The business's 50-day moving average is $41.64 and its 200-day moving average is $46.08. Cathay General Bancorp has a twelve month low of $34.75 and a twelve month high of $55.29. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of 11.20 and a beta of 0.91.
Cathay General Bancorp (NASDAQ:CATY - Get Free Report) last released its quarterly earnings data on Monday, April 21st. The bank reported $0.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 period last year, the firm posted $1.05 earnings per share. Sell-side analysts anticipate that Cathay General Bancorp will post 4.47 earnings per share for the current year.
Cathay General Bancorp Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Thursday, February 27th were given a $0.34 dividend. The ex-dividend date was Thursday, February 27th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.07%. Cathay General Bancorp's payout ratio is 34.34%.
Insider Activity
In other news, EVP Thomas M. Lo sold 729 shares of the firm's stock in a transaction that occurred 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 sale, the executive vice president now directly owns 4,000 shares of the company's stock, valued at $180,000. This trade represents a 15.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 4.85% of the company's stock.
About Cathay General Bancorp
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Free Report)
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.
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