Cathay General Bancorp (NASDAQ:CATY) Shares Purchased by Congress Asset Management Co.

Congress Asset Management Co. raised its holdings in Cathay General Bancorp (NASDAQ:CATY) by 8.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 163,234 shares of the bank’s stock after purchasing an additional 12,296 shares during the quarter. Congress Asset Management Co. owned 0.23% of Cathay General Bancorp worth $7,772,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CATY. CWM LLC boosted its stake in shares of Cathay General Bancorp by 19.9% in the third quarter. CWM LLC now owns 1,517 shares of the bank’s stock worth $65,000 after buying an additional 252 shares during the last quarter. GAMMA Investing LLC boosted its position 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 in the last quarter. KBC Group NV grew its stake in shares of Cathay General Bancorp by 68.5% during the 4th quarter. KBC Group NV now owns 3,730 shares of the bank’s stock worth $178,000 after purchasing an additional 1,517 shares during the period. CIBC Asset Management Inc purchased a new position in shares of Cathay General Bancorp during the 3rd quarter valued at approximately $201,000. Finally, SG Americas Securities LLC lifted its stake in shares of Cathay General Bancorp by 96.6% in the 4th quarter. SG Americas Securities LLC now owns 5,411 shares of the bank’s stock valued at $258,000 after purchasing an additional 2,659 shares during the period. 75.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CATY has been the subject of a number of recent analyst reports. Piper Sandler cut 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. Wedbush upped their price target on Cathay General Bancorp from $50.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods dropped their price objective 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 cut their price objective on Cathay General Bancorp from $60.00 to $57.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $50.80.

Cathay General Bancorp Trading Down 0.0 %

CATY stock opened at $46.58 on Monday. Cathay General Bancorp has a 12-month low of $33.88 and a 12-month high of $55.29. The business’s 50-day moving average is $47.86 and its 200 day moving average is $46.24. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.07. The stock has a market cap of $3.32 billion, a price-to-earnings ratio of 11.76 and a beta of 1.12.

Cathay General Bancorp (NASDAQ:CATY) last issued its quarterly earnings results on Wednesday, January 22nd. The bank reported $1.12 EPS for the quarter, topping the consensus estimate of $1.10 by $0.02. Cathay General Bancorp had a return on equity of 10.70% and a net margin of 20.57%. On average, sell-side analysts anticipate that Cathay General Bancorp will post 4.29 EPS for the current fiscal year.

Cathay General Bancorp Dividend Announcement

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 given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.92%. Cathay General Bancorp’s payout ratio is presently 34.34%.

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.