Cathay General Bancorp (NASDAQ:CATY) Given Average Rating of “Hold” by Brokerages

Shares of Cathay General Bancorp (NASDAQ:CATY) have been assigned a consensus recommendation of “Hold” from the five brokerages that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $50.80.

CATY has been the topic of a number of research reports. 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 note on Monday, January 27th. Stephens decreased their price target on shares of Cathay General Bancorp from $60.00 to $57.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Cathay General Bancorp from $56.00 to $55.00 and set a “market perform” rating on the stock in a research note on Thursday, January 23rd.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Nomura Asset Management Co. Ltd. grew 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 worth $40,000 after purchasing an additional 330 shares in the last quarter. Physician Wealth Advisors Inc. bought a new stake in shares of Cathay General Bancorp during the 4th quarter worth approximately $55,000. Venturi Wealth Management LLC bought a new stake in shares of Cathay General Bancorp during the 4th quarter worth approximately $82,000. Smartleaf Asset Management LLC lifted its holdings in shares of Cathay General Bancorp by 189.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,794 shares of the bank’s stock worth $86,000 after acquiring an additional 1,175 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Cathay General Bancorp by 42.9% during the 4th 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. Institutional investors and hedge funds own 75.01% of the company’s stock.

Cathay General Bancorp Stock Down 0.6 %

Cathay General Bancorp stock opened at $43.73 on Wednesday. The firm has a market capitalization of $3.07 billion, a PE ratio of 11.04 and a beta of 1.09. The company’s 50-day moving average is $46.30 and its 200-day moving average is $46.72. Cathay General Bancorp has a fifty-two week low of $33.88 and a fifty-two week high of $55.29. 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 (NASDAQ:CATY) last released its quarterly earnings data on Wednesday, January 22nd. The bank reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.02. Cathay General Bancorp had a net margin of 20.57% and a return on equity of 10.70%. Sell-side analysts anticipate that Cathay General Bancorp will post 4.47 earnings per share for the current year.

Cathay General Bancorp Announces Dividend

The firm also recently announced 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 dividend yield of 3.11%. Cathay General Bancorp’s payout ratio is presently 34.34%.

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.