Denali Advisors LLC Purchases 111,034 Shares of Cathay General Bancorp (NASDAQ:CATY)

Denali Advisors LLC increased its position in Cathay General Bancorp (NASDAQ:CATY) by 339.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 143,727 shares of the bank’s stock after purchasing an additional 111,034 shares during the quarter. Denali Advisors LLC owned approximately 0.20% of Cathay General Bancorp worth $6,843,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Venturi Wealth Management LLC acquired a new position in shares of Cathay General Bancorp in the 4th quarter valued at $82,000. GAMMA Investing LLC increased 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 valued at $104,000 after acquiring an additional 657 shares during the period. KBC Group NV raised its position in 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 in the last quarter. CIBC Asset Management Inc bought a new position in Cathay General Bancorp during the third quarter worth about $201,000. Finally, SG Americas Securities LLC boosted its holdings in Cathay General Bancorp by 96.6% during the fourth quarter. SG Americas Securities LLC now owns 5,411 shares of the bank’s stock valued at $258,000 after purchasing an additional 2,659 shares in the last quarter. Institutional investors and hedge funds own 75.01% of the company’s stock.

Cathay General Bancorp Trading Up 1.7 %

CATY stock opened at $46.52 on Wednesday. The business has a fifty day moving average price of $47.24 and a 200 day moving average price of $46.53. 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 fifty-two week low of $33.88 and a fifty-two week high of $55.29. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of 11.75 and a beta of 1.12.

Cathay General Bancorp (NASDAQ:CATY) last announced its earnings results on Wednesday, January 22nd. The bank reported $1.12 earnings per share for the quarter, beating 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%. Analysts expect that Cathay General Bancorp will post 4.47 EPS for the current fiscal year.

Cathay General Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Thursday, February 27th will be given a dividend of $0.34 per share. The ex-dividend date is Thursday, February 27th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.92%. Cathay General Bancorp’s payout ratio is 34.34%.

Analyst Ratings Changes

CATY has been the subject of a number of recent research reports. Piper Sandler dropped 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. Stephens dropped their price objective on Cathay General Bancorp from $60.00 to $57.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. Finally, 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 note on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Cathay General Bancorp has an average rating of “Hold” and a consensus 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.