Cathay General Bancorp’s (CATY) “Overweight” Rating Reiterated at Stephens

Stephens reiterated their overweight rating on shares of Cathay General Bancorp (NASDAQ:CATY) in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a $51.00 price target on the bank’s stock.

Several other equities research analysts have also weighed in on CATY. Piper Sandler dropped their price target on Cathay General Bancorp from $45.00 to $43.00 and set an “underweight” rating on the stock in a research report on Monday, January 27th. 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. One 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $49.60.

Cathay General Bancorp Stock Up 0.9 %

Shares of Cathay General Bancorp stock opened at $42.65 on Tuesday. The company’s fifty day simple moving average is $42.49 and its two-hundred day simple moving average is $46.25. Cathay General Bancorp has a 12-month low of $34.42 and a 12-month high of $55.29. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.07. The company has a market cap of $2.99 billion, a P/E ratio of 10.77 and a beta of 0.99.

Cathay General Bancorp (NASDAQ:CATY) last released its quarterly earnings results on Monday, April 21st. The bank reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.03. Cathay General Bancorp had a net margin of 20.57% and a return on equity of 10.70%. The company had revenue of $187.84 million during the quarter, compared to the consensus estimate of $186.17 million. During the same period in the prior year, the firm earned $1.05 earnings per share. Research analysts anticipate that Cathay General Bancorp will post 4.47 EPS for the current year.

Cathay General Bancorp Announces Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 3.19%. The ex-dividend date was Thursday, February 27th. Cathay General Bancorp’s dividend payout ratio is presently 34.34%.

Institutional Trading of Cathay General Bancorp

Several institutional investors have recently bought and sold shares of CATY. Nomura Asset Management Co. Ltd. increased its position in shares of Cathay General Bancorp by 63.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 850 shares of the bank’s stock valued at $40,000 after acquiring an additional 330 shares in the last quarter. Physician Wealth Advisors Inc. bought a new stake in shares of Cathay General Bancorp in the 4th quarter worth $55,000. Venturi Wealth Management LLC purchased a new position in shares of Cathay General Bancorp in the fourth quarter worth $82,000. Smartleaf Asset Management LLC lifted its holdings in shares of Cathay General Bancorp by 189.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,794 shares of the bank’s stock valued at $86,000 after purchasing an additional 1,175 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Cathay General Bancorp by 42.9% during the fourth quarter. GAMMA Investing LLC now owns 2,188 shares of the bank’s stock valued at $104,000 after buying an additional 657 shares during the last quarter. 75.01% of the stock is owned by hedge funds and other institutional investors.

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.