Venturi Wealth Management LLC Purchases New Stake in Cathay General Bancorp (NASDAQ:CATY)

Venturi Wealth Management LLC acquired a new position in shares of Cathay General Bancorp (NASDAQ:CATY) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,725 shares of the bank’s stock, valued at approximately $82,000.

Other hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its holdings 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 buying an additional 87,847 shares in the last quarter. Geode Capital Management LLC raised its stake in Cathay General Bancorp by 1.2% during the third quarter. Geode Capital Management LLC now owns 1,713,650 shares of the bank’s stock worth $73,615,000 after acquiring an additional 20,840 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Cathay General Bancorp by 821.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 381,764 shares of the bank’s stock worth $18,176,000 after acquiring an additional 340,329 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Cathay General Bancorp by 1.5% in the fourth quarter. Principal Financial Group Inc. now owns 345,597 shares of the bank’s stock worth $16,454,000 after acquiring an additional 5,114 shares during the last quarter. Finally, Stieven Capital Advisors L.P. boosted its stake in shares of Cathay General Bancorp by 2.2% in the 4th quarter. Stieven Capital Advisors L.P. now owns 262,004 shares of the bank’s stock valued at $12,474,000 after purchasing an additional 5,600 shares in the last quarter. 75.01% of the stock is owned by institutional investors.

Cathay General Bancorp Stock Down 1.4 %

NASDAQ:CATY opened at $45.84 on Monday. Cathay General Bancorp has a one year low of $33.88 and a one year high of $55.29. 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 company has a market cap of $3.26 billion, a PE ratio of 11.58 and a beta of 1.12. The firm’s 50 day simple moving average is $47.41 and its 200 day simple moving average is $46.45.

Cathay General Bancorp (NASDAQ:CATY) last issued its quarterly earnings results on Wednesday, January 22nd. The bank reported $1.12 EPS for the quarter, topping 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%. On average, research analysts anticipate that Cathay General Bancorp will post 4.47 earnings per share for the current year.

Cathay General Bancorp Dividend Announcement

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

Analysts Set New Price Targets

CATY has been the subject of a number of research analyst reports. Piper Sandler lowered their price objective on shares of 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. Stephens lowered their price target on shares of Cathay General Bancorp from $60.00 to $57.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods dropped their price target 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 analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Cathay General Bancorp presently has a consensus rating of “Hold” and a consensus target price of $50.80.

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.