Cathay General Bancorp (NASDAQ:CATY) Shares Sold by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV lessened its holdings in shares of Cathay General Bancorp (NASDAQ:CATY) by 19.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,112 shares of the bank’s stock after selling 6,169 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Cathay General Bancorp were worth $1,243,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CATY. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Cathay General Bancorp by 17.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,236 shares of the bank’s stock valued at $2,509,000 after buying an additional 7,837 shares during the last quarter. Barclays PLC raised its position in Cathay General Bancorp by 104.3% during the third quarter. Barclays PLC now owns 145,690 shares of the bank’s stock valued at $6,257,000 after acquiring an additional 74,394 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Cathay General Bancorp by 6.6% in the third quarter. JPMorgan Chase & Co. now owns 156,125 shares of the bank’s stock valued at $6,706,000 after acquiring an additional 9,724 shares during the period. Sei Investments Co. grew its stake in shares of Cathay General Bancorp by 31.2% during the 4th quarter. Sei Investments Co. now owns 14,674 shares of the bank’s stock worth $699,000 after purchasing an additional 3,490 shares during the period. Finally, Xponance Inc. purchased a new position in shares of Cathay General Bancorp during the 4th quarter valued at approximately $239,000. 75.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CATY has been the topic of a number of recent analyst reports. Piper Sandler lowered their price target 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. Keefe, Bruyette & Woods lowered 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. Finally, Stephens restated an “overweight” rating and issued a $51.00 price target on shares of Cathay General Bancorp in a research note on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $49.60.

Cathay General Bancorp Stock Down 1.1 %

Shares of NASDAQ CATY opened at $42.94 on Friday. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of 10.84 and a beta of 0.91. The company’s 50-day simple moving average is $41.62 and its 200-day simple moving average is $46.09. 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 has a 52-week low of $34.75 and a 52-week high of $55.29.

Cathay General Bancorp (NASDAQ:CATY) last posted its quarterly earnings data on Monday, April 21st. The bank reported $0.98 EPS for the quarter, topping the consensus estimate of $0.95 by $0.03. Cathay General Bancorp had a return on equity of 10.70% and a net margin of 20.57%. The company had revenue of $187.84 million during the quarter, compared to analyst estimates of $186.17 million. During the same period in the previous year, the business earned $1.05 EPS. Equities analysts predict that Cathay General Bancorp will post 4.47 EPS for the current fiscal year.

Cathay General Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Thursday, February 27th were issued a $0.34 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.36 dividend on an annualized basis and a yield of 3.17%. Cathay General Bancorp’s payout ratio is currently 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.