Mitsubishi UFJ Trust & Banking Corp Purchases 2,089 Shares of Cathay General Bancorp (NASDAQ:CATY)

Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Cathay General Bancorp (NASDAQ:CATY) by 11.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,818 shares of the bank’s stock after buying an additional 2,089 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Cathay General Bancorp were worth $944,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of CATY. Captrust Financial Advisors increased its holdings in Cathay General Bancorp by 1.7% during the 3rd quarter. Captrust Financial Advisors now owns 23,264 shares of the bank’s stock valued at $999,000 after purchasing an additional 399 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Cathay General Bancorp by 42.9% in the fourth quarter. GAMMA Investing LLC now owns 2,188 shares of the bank’s stock valued at $104,000 after buying an additional 657 shares in the last quarter. Sanctuary Advisors LLC raised its holdings in shares of Cathay General Bancorp by 4.2% in the fourth quarter. Sanctuary Advisors LLC now owns 21,599 shares of the bank’s stock valued at $1,024,000 after buying an additional 871 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in 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 buying an additional 1,175 shares in the last quarter. Finally, KBC Group NV grew its holdings in 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 acquiring an additional 1,517 shares during the last quarter. Institutional investors own 75.01% of the company’s stock.

Cathay General Bancorp Stock Performance

CATY stock opened at $42.82 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.07. Cathay General Bancorp has a twelve month low of $33.88 and a twelve month high of $55.29. The business’s fifty day moving average is $45.48 and its 200-day moving average is $46.79. The company has a market cap of $3.01 billion, a P/E ratio of 10.81 and a beta of 1.09.

Cathay General Bancorp (NASDAQ:CATY) last released its earnings results on Wednesday, January 22nd. The bank reported $1.12 earnings per share for the quarter, beating 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%. Equities research analysts forecast that Cathay General Bancorp will post 4.47 EPS for the current year.

Cathay General Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Thursday, February 27th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend was Thursday, February 27th. Cathay General Bancorp’s dividend payout ratio is currently 34.34%.

Analyst Ratings Changes

A number of equities analysts have weighed in on CATY shares. 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 for the company in a research note on Thursday, January 23rd. Piper Sandler reduced their price objective on Cathay General Bancorp from $45.00 to $43.00 and set an “underweight” rating on the stock in a report on Monday, January 27th. Finally, Stephens decreased their price objective on 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. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $50.80.

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.