Cathay General Bancorp (NASDAQ:CATY) Stock Holdings Increased by Citigroup Inc.

Citigroup Inc. lifted its position in Cathay General Bancorp (NASDAQ:CATY) by 9.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 135,681 shares of the bank’s stock after buying an additional 12,132 shares during the period. Citigroup Inc. owned approximately 0.19% of Cathay General Bancorp worth $5,827,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in shares of Cathay General Bancorp by 4.4% during the second quarter. Dimensional Fund Advisors LP now owns 4,194,232 shares of the bank’s stock valued at $158,206,000 after buying an additional 176,215 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Cathay General Bancorp by 3.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,758,777 shares of the bank’s stock worth $118,489,000 after purchasing an additional 87,847 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Cathay General Bancorp by 19.8% during the 2nd quarter. American Century Companies Inc. now owns 1,262,970 shares of the bank’s stock worth $47,639,000 after purchasing an additional 208,599 shares during the last quarter. Boston Trust Walden Corp increased its stake in Cathay General Bancorp by 4.1% during the second quarter. Boston Trust Walden Corp now owns 736,727 shares of the bank’s stock valued at $27,789,000 after acquiring an additional 28,968 shares during the period. Finally, Stieven Capital Advisors L.P. increased its stake in Cathay General Bancorp by 39.3% during the third quarter. Stieven Capital Advisors L.P. now owns 256,404 shares of the bank’s stock valued at $11,013,000 after acquiring an additional 72,300 shares during the period. Institutional investors own 75.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CATY shares. Wedbush upped their price objective on Cathay General Bancorp from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Truist Financial increased their price target on Cathay General Bancorp from $45.00 to $47.00 and gave the company a “hold” rating in a research note on Friday, September 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $44.00.

Cathay General Bancorp Price Performance

CATY stock opened at $52.01 on Monday. The stock has a 50-day moving average price of $47.02 and a two-hundred day moving average price of $42.37. The stock has a market cap of $3.70 billion, a PE ratio of 13.10 and a beta of 1.10. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.07. Cathay General Bancorp has a 1 year low of $33.88 and a 1 year high of $55.29.

Cathay General Bancorp (NASDAQ:CATY) last announced its quarterly earnings data on Monday, October 21st. The bank reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.01). Cathay General Bancorp had a net margin of 20.57% and a return on equity of 11.30%. The company had revenue of $359.86 million during the quarter, compared to the consensus estimate of $182.70 million. During the same quarter in the previous year, the business earned $1.13 EPS. Equities analysts forecast that Cathay General Bancorp will post 3.99 EPS for the current fiscal year.

Cathay General Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Wednesday, November 27th will be given a dividend of $0.34 per share. The ex-dividend date is Wednesday, November 27th. This represents a $1.36 annualized dividend and a yield of 2.61%. Cathay General Bancorp’s dividend payout ratio (DPR) is presently 34.26%.

Insiders Place Their Bets

In other Cathay General Bancorp news, Vice Chairman Peter Wu sold 7,289 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $47.05, for a total transaction of $342,947.45. Following the completion of the transaction, the insider now directly owns 347,963 shares in the company, valued at $16,371,659.15. The trade was a 2.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Thomas M. Lo sold 900 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $47.00, for a total transaction of $42,300.00. Following the transaction, the executive vice president now owns 3,359 shares of the company’s stock, valued at $157,873. This trade represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 48,189 shares of company stock worth $2,500,047 over the last three months. Insiders own 4.76% of the company’s stock.

Cathay General Bancorp 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.