Swiss National Bank Sells 300 Shares of Cathay General Bancorp (NASDAQ:CATY)

Swiss National Bank cut its holdings in Cathay General Bancorp (NASDAQ:CATY) by 0.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 134,800 shares of the bank’s stock after selling 300 shares during the quarter. Swiss National Bank owned about 0.19% of Cathay General Bancorp worth $6,418,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CATY. CIBC Asset Management Inc bought a new stake in Cathay General Bancorp in the third quarter valued at about $201,000. Natixis Advisors LLC acquired a new position in shares of Cathay General Bancorp during the 3rd quarter worth about $512,000. Intech Investment Management LLC bought a new stake in shares of Cathay General Bancorp in the 3rd quarter valued at about $524,000. Charles Schwab Investment Management Inc. raised its position in shares of Cathay General Bancorp by 3.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,758,777 shares of the bank’s stock valued at $118,489,000 after acquiring an additional 87,847 shares during the period. Finally, Citigroup Inc. boosted its stake in Cathay General Bancorp by 9.8% during the 3rd quarter. Citigroup Inc. now owns 135,681 shares of the bank’s stock worth $5,827,000 after acquiring an additional 12,132 shares during the last quarter. Institutional investors and hedge funds own 75.01% of the company’s stock.

Analysts Set New Price Targets

CATY has been the topic of several analyst reports. Piper Sandler cut their target price on shares of Cathay General Bancorp from $45.00 to $43.00 and set an “underweight” rating on the stock in a report on Monday, January 27th. 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 note on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods decreased their target price on 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. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $50.80.

Cathay General Bancorp Price Performance

CATY stock opened at $43.28 on Monday. The stock has a 50-day moving average price of $46.11 and a two-hundred day moving average price of $46.71. 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 $3.04 billion, a PE ratio of 10.93 and a beta of 1.09. 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 (NASDAQ:CATY) last posted its quarterly earnings data on Wednesday, January 22nd. The bank reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts forecast that Cathay General Bancorp will post 4.47 EPS for the current fiscal year.

Cathay General Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Thursday, February 27th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend was Thursday, February 27th. Cathay General Bancorp’s dividend payout ratio is presently 34.34%.

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.