Sanctuary Advisors LLC raised its position in Cathay General Bancorp (NASDAQ:CATY – Free Report) by 4.2% during the fourth quarter, HoldingsChannel reports. The firm owned 21,599 shares of the bank’s stock after buying an additional 871 shares during the quarter. Sanctuary Advisors LLC’s holdings in Cathay General Bancorp were worth $1,024,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its position in shares of Cathay General Bancorp by 3.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,758,777 shares of the bank’s stock valued at $118,489,000 after purchasing an additional 87,847 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Cathay General Bancorp by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,713,650 shares of the bank’s stock valued at $73,615,000 after purchasing an additional 20,840 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Cathay General Bancorp by 821.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 381,764 shares of the bank’s stock valued at $18,176,000 after purchasing an additional 340,329 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Cathay General Bancorp by 1.5% in the 4th quarter. Principal Financial Group Inc. now owns 345,597 shares of the bank’s stock valued at $16,454,000 after purchasing an additional 5,114 shares during the last quarter. Finally, Stieven Capital Advisors L.P. increased its position in shares of Cathay General Bancorp by 2.2% in the 4th quarter. Stieven Capital Advisors L.P. now owns 262,004 shares of the bank’s stock valued at $12,474,000 after purchasing an additional 5,600 shares during the last quarter. 75.01% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
CATY has been the topic of a number of recent analyst reports. Stephens dropped their price objective on shares of Cathay General Bancorp from $60.00 to $57.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Piper Sandler dropped their price objective on shares of Cathay General Bancorp from $45.00 to $43.00 and set an “underweight” rating on the stock in a research report on Monday, January 27th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of 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 issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $50.80.
Get Our Latest Stock Analysis on CATY
Cathay General Bancorp Trading Down 0.5 %
NASDAQ CATY opened at $46.27 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.03 and a quick ratio of 1.03. The firm’s fifty day moving average price is $47.22 and its 200 day moving average price is $46.53. The company has a market capitalization of $3.29 billion, a price-to-earnings ratio of 11.68 and a beta of 1.12. Cathay General Bancorp has a 12 month low of $33.88 and a 12 month high of $55.29.
Cathay General Bancorp (NASDAQ:CATY – Get Free Report) last posted its earnings results on Wednesday, January 22nd. The bank reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.02. Cathay General Bancorp had a net margin of 20.57% and a return on equity of 10.70%. On average, sell-side analysts expect that Cathay General Bancorp will post 4.47 earnings per share for the current fiscal year.
Cathay General Bancorp Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Thursday, February 27th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend is Thursday, February 27th. Cathay General Bancorp’s dividend payout ratio is currently 34.34%.
Cathay General Bancorp Profile
(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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