Coldstream Capital Management Inc. Increases Stock Position in Cathay General Bancorp (NASDAQ:CATY)

Coldstream Capital Management Inc. boosted its holdings in shares of Cathay General Bancorp (NASDAQ:CATY) by 15.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,785 shares of the bank’s stock after buying an additional 1,596 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Cathay General Bancorp were worth $525,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Cathay General Bancorp in the 4th quarter valued at $34,563,000. Vanguard Group Inc. grew its stake in Cathay General Bancorp by 10.3% in the third quarter. Vanguard Group Inc. now owns 8,058,670 shares of the bank’s stock valued at $280,119,000 after purchasing an additional 749,370 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in Cathay General Bancorp in the third quarter valued at about $25,138,000. Jupiter Asset Management Ltd. raised its holdings in Cathay General Bancorp by 280.1% in the third quarter. Jupiter Asset Management Ltd. now owns 334,678 shares of the bank’s stock worth $11,633,000 after purchasing an additional 246,622 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Cathay General Bancorp during the third quarter valued at about $6,013,000. 75.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CATY. StockNews.com raised shares of Cathay General Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday. Keefe, Bruyette & Woods decreased their price objective on Cathay General Bancorp from $46.00 to $41.00 and set a “market perform” rating for the company in a report on Tuesday, April 23rd. Truist Financial lowered their price objective on Cathay General Bancorp from $40.00 to $38.00 and set a “hold” rating for the company in a research report on Thursday, April 25th. Finally, Wedbush reaffirmed an “outperform” rating and set a $44.00 target price on shares of Cathay General Bancorp in a research report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $39.00.

Cathay General Bancorp Trading Down 2.5 %

Cathay General Bancorp stock opened at $36.11 on Friday. The stock has a 50-day moving average price of $36.57 and a 200 day moving average price of $39.10. The company has a market capitalization of $2.63 billion, a price-to-earnings ratio of 7.99 and a beta of 1.12. Cathay General Bancorp has a 52 week low of $28.95 and a 52 week high of $45.72. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 0.14.

Cathay General Bancorp (NASDAQ:CATY) last announced its quarterly earnings data on Monday, April 22nd. The bank reported $0.98 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.04). The business had revenue of $339.25 million for the quarter, compared to analyst estimates of $188.85 million. Cathay General Bancorp had a net margin of 24.41% and a return on equity of 13.02%. During the same quarter in the previous year, the firm posted $1.32 earnings per share. Sell-side analysts anticipate that Cathay General Bancorp will post 3.94 EPS for the current year.

Cathay General Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Thursday, May 30th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.77%. The ex-dividend date is Thursday, May 30th. Cathay General Bancorp’s payout ratio is 30.09%.

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.