Cathay General Bancorp (NASDAQ:CATY) Shares Sold by Susquehanna International Group LLP

Susquehanna International Group LLP lessened its holdings in shares of Cathay General Bancorp (NASDAQ:CATY) by 33.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 48,008 shares of the bank’s stock after selling 23,961 shares during the quarter. Susquehanna International Group LLP owned 0.07% of Cathay General Bancorp worth $2,286,000 at the end of the most recent quarter.

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

Cathay General Bancorp Trading Up 3.7 %

Shares of NASDAQ:CATY opened at $43.43 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.07. The company’s 50-day moving average price is $41.66 and its 200 day moving average price is $46.11. The company has a market cap of $3.04 billion, a PE ratio of 10.97 and a beta of 0.91. Cathay General Bancorp has a fifty-two week low of $34.75 and a fifty-two week high of $55.29.

Cathay General Bancorp (NASDAQ:CATY) last released its quarterly earnings results on Monday, April 21st. The bank reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $186.17 million. During the same quarter in the previous year, the company posted $1.05 earnings per share. Sell-side analysts anticipate that Cathay General Bancorp will post 4.47 earnings per share for the current year.

Cathay General Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Thursday, February 27th were paid a $0.34 dividend. The ex-dividend date was Thursday, February 27th. This represents a $1.36 annualized dividend and a dividend yield of 3.13%. Cathay General Bancorp’s payout ratio is 34.34%.

Wall Street Analysts Forecast Growth

CATY has been the subject of several recent research reports. 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 for the company in a research note on Thursday, January 23rd. Piper Sandler dropped their price objective on shares of Cathay General Bancorp from $45.00 to $43.00 and set an “underweight” rating on the stock in a research note on Monday, January 27th. Finally, Stephens restated an “overweight” rating and issued a $51.00 target price 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. Based on data from MarketBeat.com, Cathay General Bancorp currently has a consensus rating of “Hold” and an average target price of $49.60.

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.