Mirae Asset Global Investments Co. Ltd. Has $1.83 Million Position in Cathay General Bancorp (NASDAQ:CATY)

Mirae Asset Global Investments Co. Ltd. boosted its holdings in Cathay General Bancorp (NASDAQ:CATY) by 5.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 41,118 shares of the bank’s stock after purchasing an additional 1,965 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.06% of Cathay General Bancorp worth $1,833,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. PNC Financial Services Group Inc. lifted its stake in Cathay General Bancorp by 29.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 12,156 shares of the bank’s stock valued at $543,000 after acquiring an additional 2,754 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Cathay General Bancorp by 8.4% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,762 shares of the bank’s stock valued at $1,242,000 after acquiring an additional 2,159 shares in the last quarter. Great West Life Assurance Co. Can lifted its stake in Cathay General Bancorp by 8.8% during the 1st quarter. Great West Life Assurance Co. Can now owns 43,851 shares of the bank’s stock valued at $2,014,000 after acquiring an additional 3,548 shares in the last quarter. Yousif Capital Management LLC lifted its stake in Cathay General Bancorp by 1.7% during the 1st quarter. Yousif Capital Management LLC now owns 40,851 shares of the bank’s stock valued at $1,828,000 after acquiring an additional 666 shares in the last quarter. Finally, Aviva PLC bought a new position in Cathay General Bancorp during the 1st quarter valued at $2,136,000. Institutional investors and hedge funds own 75.01% of the company’s stock.

Cathay General Bancorp Trading Up 3.9 %

NASDAQ CATY opened at $36.00 on Friday. The stock has a market capitalization of $2.62 billion, a price-to-earnings ratio of 7.41 and a beta of 1.12. Cathay General Bancorp has a one year low of $27.24 and a one year high of $45.72. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.05 and a quick ratio of 1.05. The business’s fifty day moving average is $38.06 and its 200-day moving average is $38.78.

Cathay General Bancorp (NASDAQ:CATY) last released its earnings results on Wednesday, January 24th. The bank reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.15. Cathay General Bancorp had a return on equity of 13.89% and a net margin of 27.02%. The company had revenue of $205.24 million for the quarter, compared to analysts’ expectations of $197.95 million. Equities research analysts predict that Cathay General Bancorp will post 4 EPS for the current year.

Cathay General Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Wednesday, February 28th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.78%. The ex-dividend date was Tuesday, February 27th. Cathay General Bancorp’s dividend payout ratio (DPR) is currently 27.98%.

Analysts Set New Price Targets

Several equities analysts have weighed in on CATY shares. Truist Financial dropped their price objective on Cathay General Bancorp from $46.00 to $40.00 and set a “hold” rating on the stock in a research note on Monday, April 1st. StockNews.com cut Cathay General Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, April 6th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $38.20.

Insider Buying and Selling

In related news, Vice Chairman Anthony M. Tang sold 7,000 shares of Cathay General Bancorp stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $43.45, for a total value of $304,150.00. Following the completion of the sale, the insider now owns 204,500 shares of the company’s stock, valued at approximately $8,885,525. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.30% of the stock is currently owned by insiders.

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.