Proficio Capital Partners LLC Makes New $2.02 Million Investment in Cathay General Bancorp (NASDAQ:CATY)

Proficio Capital Partners LLC acquired a new stake in Cathay General Bancorp (NASDAQ:CATY) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 42,348 shares of the bank’s stock, valued at approximately $2,016,000. Proficio Capital Partners LLC owned approximately 0.06% of Cathay General Bancorp as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in CATY. Captrust Financial Advisors boosted its position in shares of 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 acquiring an additional 399 shares during the last quarter. GAMMA Investing LLC lifted its stake in Cathay General Bancorp by 42.9% in the fourth quarter. GAMMA Investing LLC now owns 2,188 shares of the bank’s stock worth $104,000 after purchasing an additional 657 shares during 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 worth $1,024,000 after buying an additional 871 shares during the period. Smartleaf Asset Management LLC grew its position in Cathay General Bancorp by 189.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,794 shares of the bank’s stock valued at $86,000 after acquiring an additional 1,175 shares during the last quarter. Finally, KBC Group NV grew its holdings in shares of Cathay General Bancorp by 68.5% in the fourth quarter. KBC Group NV now owns 3,730 shares of the bank’s stock worth $178,000 after purchasing an additional 1,517 shares during the last quarter. Institutional investors own 75.01% of the company’s stock.

Cathay General Bancorp Trading Up 0.8 %

Shares of NASDAQ:CATY opened at $44.07 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.03 and a quick ratio of 1.03. The business’s 50 day moving average price is $46.24 and its 200-day moving average price is $46.70. The firm has a market capitalization of $3.10 billion, a price-to-earnings ratio of 11.13 and a beta of 1.09. 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 earnings results on Wednesday, January 22nd. The bank reported $1.12 earnings per share (EPS) 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%. On average, equities research analysts forecast that Cathay General Bancorp will post 4.47 earnings per share for the current fiscal year.

Cathay General Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Thursday, February 27th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 3.09%. The ex-dividend date was Thursday, February 27th. Cathay General Bancorp’s payout ratio is presently 34.34%.

Analysts Set New Price Targets

CATY has been the topic of a number of research reports. Keefe, Bruyette & Woods reduced their target price on shares of Cathay General Bancorp from $56.00 to $55.00 and set a “market perform” rating on the stock in a research report on Thursday, January 23rd. Piper Sandler lowered their target price on Cathay General Bancorp from $45.00 to $43.00 and set an “underweight” rating for the company in a report on Monday, January 27th. Finally, Stephens dropped 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 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.com, the stock 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.