Yousif Capital Management LLC Cuts Stock Position in Cathay General Bancorp (NASDAQ:CATY)

Yousif Capital Management LLC decreased its holdings in Cathay General Bancorp (NASDAQ:CATY) by 3.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,993 shares of the bank’s stock after selling 866 shares during the quarter. Yousif Capital Management LLC’s holdings in Cathay General Bancorp were worth $1,285,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CATY. CWM LLC boosted its position in Cathay General Bancorp by 19.9% in the 3rd quarter. CWM LLC now owns 1,517 shares of the bank’s stock valued at $65,000 after buying an additional 252 shares during the period. GAMMA Investing LLC raised 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 acquiring an additional 657 shares in the last quarter. KBC Group NV boosted its holdings in Cathay General Bancorp by 68.5% in the fourth quarter. KBC Group NV now owns 3,730 shares of the bank’s stock valued at $178,000 after purchasing an additional 1,517 shares during the period. CIBC Asset Management Inc acquired a new position in Cathay General Bancorp during the 3rd quarter worth $201,000. Finally, SG Americas Securities LLC increased its holdings in Cathay General Bancorp by 96.6% during the 4th quarter. SG Americas Securities LLC now owns 5,411 shares of the bank’s stock worth $258,000 after purchasing an additional 2,659 shares during the period. Institutional investors and hedge funds own 75.01% of the company’s stock.

Analysts Set New Price Targets

CATY has been the subject of a number of analyst reports. Piper Sandler lowered their price objective on Cathay General Bancorp from $45.00 to $43.00 and set an “underweight” rating for the company in a research report on Monday, January 27th. Keefe, Bruyette & Woods lowered their price target on shares of Cathay General Bancorp from $56.00 to $55.00 and set a “market perform” rating for the company in a report on Thursday, January 23rd. Wedbush raised their price objective on shares of Cathay General Bancorp from $50.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Finally, Stephens dropped their target price on Cathay General Bancorp from $60.00 to $57.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. One equities 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. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $50.80.

Cathay General Bancorp Price Performance

Shares of CATY opened at $46.59 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. Cathay General Bancorp has a 1-year low of $33.88 and a 1-year high of $55.29. The stock has a market cap of $3.32 billion, a PE ratio of 11.77 and a beta of 1.12. The firm has a fifty day moving average price of $47.95 and a 200 day moving average price of $46.20.

Cathay General Bancorp (NASDAQ:CATY) last posted 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%. As a group, sell-side analysts anticipate that Cathay General Bancorp will post 4.29 EPS for the current year.

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.