Cathay General Bancorp (NASDAQ:CATY) Stake Lessened by Susquehanna International Group LLP

Susquehanna International Group LLP decreased its position in shares of Cathay General Bancorp (NASDAQ:CATY) by 33.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 48,008 shares of the bank’s stock after selling 23,961 shares during the quarter. Susquehanna International Group LLP’s holdings in Cathay General Bancorp were worth $2,286,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. increased its position in shares of Cathay General Bancorp by 63.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 850 shares of the bank’s stock valued at $40,000 after purchasing an additional 330 shares during the period. Bank of Montreal Can grew its holdings in Cathay General Bancorp by 4.1% during the fourth quarter. Bank of Montreal Can now owns 9,961 shares of the bank’s stock worth $474,000 after acquiring an additional 394 shares during the period. GAMMA Investing LLC grew its holdings in Cathay General Bancorp by 42.9% during 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 during the period. Sanctuary Advisors LLC raised its position in Cathay General Bancorp by 4.2% in the fourth quarter. Sanctuary Advisors LLC now owns 21,599 shares of the bank’s stock worth $1,024,000 after acquiring an additional 871 shares in the last quarter. Finally, Mariner LLC lifted its holdings in Cathay General Bancorp by 20.4% in the 4th quarter. Mariner LLC now owns 6,789 shares of the bank’s stock valued at $323,000 after acquiring an additional 1,152 shares during the last quarter. 75.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CATY. 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 report on Thursday, January 23rd. Piper Sandler decreased their price target 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, Stephens reiterated an “overweight” rating and set a $51.00 price objective on shares of Cathay General Bancorp in a research report on Tuesday, April 22nd. One 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 company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $49.60.

Cathay General Bancorp Stock Up 3.7 %

CATY stock opened at $43.43 on Friday. 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 has a market capitalization of $3.04 billion, a P/E ratio of 10.97 and a beta of 0.91. Cathay General Bancorp has a 52-week low of $34.75 and a 52-week high of $55.29. The company’s 50 day simple moving average is $41.66 and its 200-day simple moving average is $46.11.

Cathay General Bancorp (NASDAQ:CATY) last announced its earnings results on Monday, April 21st. The bank reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.03. The company had revenue of $187.84 million for the quarter, compared to the consensus estimate 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 period in the previous year, the business earned $1.05 EPS. As a group, equities research analysts anticipate that Cathay General Bancorp will post 4.47 EPS for the current year.

Cathay General Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Thursday, February 27th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.36 dividend on an annualized basis and a yield of 3.13%. 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.