Nordea Investment Management AB Raises Stock Position in Cathay General Bancorp (NASDAQ:CATY)

Nordea Investment Management AB increased its stake in Cathay General Bancorp (NASDAQ:CATYFree Report) by 1.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 181,928 shares of the bank’s stock after acquiring an additional 3,478 shares during the quarter. Nordea Investment Management AB owned approximately 0.25% of Cathay General Bancorp worth $6,979,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Prime Capital Investment Advisors LLC grew its holdings in shares of Cathay General Bancorp by 4.1% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 6,302 shares of the bank’s stock worth $281,000 after buying an additional 247 shares in the last quarter. Alps Advisors Inc. grew its holdings in shares of Cathay General Bancorp by 11.5% during the third quarter. Alps Advisors Inc. now owns 9,198 shares of the bank’s stock worth $320,000 after buying an additional 952 shares in the last quarter. GAMMA Investing LLC purchased a new stake in shares of Cathay General Bancorp during the fourth quarter worth $51,000. Coldstream Capital Management Inc. grew its holdings in shares of Cathay General Bancorp by 15.7% during the fourth quarter. Coldstream Capital Management Inc. now owns 11,785 shares of the bank’s stock worth $525,000 after buying an additional 1,596 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Cathay General Bancorp by 5.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,118 shares of the bank’s stock worth $1,833,000 after buying an additional 1,965 shares in the last quarter. Hedge funds and other institutional investors own 75.01% of the company’s stock.

Cathay General Bancorp Trading Up 0.2 %

NASDAQ CATY opened at $36.39 on Tuesday. The firm’s 50-day moving average is $36.57 and its two-hundred day moving average is $38.60. Cathay General Bancorp has a 12 month low of $32.08 and a 12 month high of $45.72. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.04 and a quick ratio of 1.03. The stock has a market capitalization of $2.65 billion, a P/E ratio of 8.04 and a beta of 1.13.

Cathay General Bancorp (NASDAQ:CATYGet Free Report) last posted its earnings results on Monday, April 22nd. The bank reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.04). The company had revenue of $339.25 million during the quarter, compared to analyst estimates of $188.85 million. Cathay General Bancorp had a net margin of 24.41% and a return on equity of 13.02%. During the same period in the previous year, the company earned $1.32 EPS. On average, sell-side analysts anticipate that Cathay General Bancorp will post 3.94 earnings per share for the current year.

Cathay General Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Thursday, May 30th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $1.36 dividend on an annualized basis and a yield of 3.74%. Cathay General Bancorp’s dividend payout ratio (DPR) is presently 30.09%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CATY shares. Truist Financial dropped their target price on shares of Cathay General Bancorp from $40.00 to $38.00 and set a “hold” rating for the company in a report on Thursday, April 25th. Keefe, Bruyette & Woods lowered their price target on shares of Cathay General Bancorp from $46.00 to $41.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 23rd. StockNews.com cut shares of Cathay General Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, June 11th. Finally, Wedbush reissued an “outperform” rating and set a $44.00 price target on shares of Cathay General Bancorp in a research report on Tuesday, April 23rd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $39.00.

Get Our Latest Analysis on Cathay General Bancorp

Cathay General Bancorp Company 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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Institutional Ownership by Quarter for Cathay General Bancorp (NASDAQ:CATY)

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