Cathay General Bancorp (NASDAQ:CATY) Given Consensus Rating of “Hold” by Brokerages

Cathay General Bancorp (NASDAQ:CATY) has been assigned an average rating of “Hold” from the five analysts that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $50.80.

A number of research analysts have issued reports on CATY shares. Piper Sandler dropped their target price on shares of Cathay General Bancorp from $45.00 to $43.00 and set an “underweight” rating for the company in a report on Monday, January 27th. Stephens lowered their price target on shares of 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. Finally, 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 on the stock in a research report on Thursday, January 23rd.

Institutional Trading of Cathay General Bancorp

Several large investors have recently modified their holdings of CATY. Nomura Asset Management Co. Ltd. boosted its position in Cathay General Bancorp by 63.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 850 shares of the bank’s stock worth $40,000 after acquiring an additional 330 shares during the last quarter. Physician Wealth Advisors Inc. acquired a new stake in Cathay General Bancorp during the fourth quarter worth approximately $55,000. CWM LLC boosted its position in Cathay General Bancorp by 19.9% during the third quarter. CWM LLC now owns 1,517 shares of the bank’s stock worth $65,000 after acquiring an additional 252 shares during the last quarter. Venturi Wealth Management LLC acquired a new stake in Cathay General Bancorp during the fourth quarter worth approximately $82,000. Finally, Smartleaf Asset Management LLC boosted its position in Cathay General Bancorp by 189.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,794 shares of the bank’s stock worth $86,000 after acquiring an additional 1,175 shares during the last quarter. 75.01% of the stock is currently owned by institutional investors and hedge funds.

Cathay General Bancorp Trading Down 1.4 %

NASDAQ CATY opened at $45.84 on Friday. The stock has a market capitalization of $3.26 billion, a P/E ratio of 11.58 and a beta of 1.12. Cathay General Bancorp has a 52-week low of $33.88 and a 52-week high of $55.29. The firm has a 50-day moving average price of $47.41 and a 200 day moving average price of $46.36. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.07.

Cathay General Bancorp (NASDAQ:CATY) last issued its earnings results on Wednesday, January 22nd. The bank reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.02. Cathay General Bancorp had a net margin of 20.57% and a return on equity of 10.70%. Equities research analysts expect that Cathay General Bancorp will post 4.47 EPS for the current year.

Cathay General Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Thursday, February 27th will be given a $0.34 dividend. The ex-dividend date is Thursday, February 27th. This represents a $1.36 annualized dividend and a dividend yield of 2.97%. Cathay General Bancorp’s dividend payout ratio is presently 34.34%.

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.