Cathay General Bancorp (NASDAQ:CATY) Price Target Lowered to $41.00 at Keefe, Bruyette & Woods

Cathay General Bancorp (NASDAQ:CATY) had its target price cut by Keefe, Bruyette & Woods from $46.00 to $41.00 in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a market perform rating on the bank’s stock.

Several other equities analysts also recently commented on CATY. StockNews.com downgraded shares of Cathay General Bancorp from a hold rating to a sell rating in a research note on Saturday, April 6th. Truist Financial lowered their price objective on shares of Cathay General Bancorp from $46.00 to $40.00 and set a hold rating for the company in a research report on Monday, April 1st. Finally, Wedbush reiterated an outperform rating and set a $44.00 price objective on shares of Cathay General Bancorp in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $39.40.

Cathay General Bancorp Price Performance

CATY stock opened at $34.89 on Tuesday. Cathay General Bancorp has a one year low of $27.24 and a one year high of $45.72. The company’s fifty day moving average price is $37.91 and its 200-day moving average price is $38.84. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market capitalization of $2.54 billion, a PE ratio of 7.18 and a beta of 1.12.

Cathay General Bancorp (NASDAQ:CATY) last released its earnings results on Monday, April 22nd. The bank reported $0.98 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.04). Cathay General Bancorp had a return on equity of 13.89% and a net margin of 27.02%. The company had revenue of $339.25 million during the quarter, compared to analysts’ expectations of $188.85 million. During the same period last year, the firm posted $1.32 EPS. On average, equities analysts anticipate that Cathay General Bancorp will post 4 EPS for the current fiscal year.

Cathay General Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Wednesday, February 28th were issued a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $1.36 annualized dividend and a dividend yield of 3.90%. Cathay General Bancorp’s dividend payout ratio (DPR) is presently 27.98%.

Insider Transactions at Cathay General Bancorp

In other news, Vice Chairman Anthony M. Tang sold 7,000 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were 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 in the company, valued at approximately $8,885,525. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 4.76% of the company’s stock.

Institutional Investors Weigh In On Cathay General Bancorp

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Cathay General Bancorp by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 8,254,816 shares of the bank’s stock worth $367,917,000 after buying an additional 196,146 shares during the period. Dimensional Fund Advisors LP increased its stake in Cathay General Bancorp by 4.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,850,356 shares of the bank’s stock worth $171,613,000 after buying an additional 150,331 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Cathay General Bancorp by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,053,405 shares of the bank’s stock worth $91,520,000 after buying an additional 25,421 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Cathay General Bancorp by 4.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,654,350 shares of the bank’s stock worth $57,505,000 after buying an additional 75,749 shares during the period. Finally, Principal Financial Group Inc. increased its stake in Cathay General Bancorp by 8.8% in the 3rd quarter. Principal Financial Group Inc. now owns 1,540,402 shares of the bank’s stock worth $53,543,000 after buying an additional 124,851 shares during the period. Institutional investors own 75.01% of the company’s stock.

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.