Cathay General Bancorp (NASDAQ:CATY) Shares Acquired by Nordea Investment Management AB

Nordea Investment Management AB grew its holdings in shares of Cathay General Bancorp (NASDAQ:CATY) by 5.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 151,459 shares of the bank’s stock after buying an additional 7,186 shares during the period. Nordea Investment Management AB owned 0.21% of Cathay General Bancorp worth $7,256,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. American Century Companies Inc. raised its position in shares of Cathay General Bancorp by 19.8% during the second quarter. American Century Companies Inc. now owns 1,262,970 shares of the bank’s stock worth $47,639,000 after purchasing an additional 208,599 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Cathay General Bancorp by 4.4% in the second quarter. Dimensional Fund Advisors LP now owns 4,194,232 shares of the bank’s stock worth $158,206,000 after buying an additional 176,215 shares during the period. Foundry Partners LLC purchased a new position in shares of Cathay General Bancorp in the third quarter worth approximately $7,493,000. Pure Portfolios Holdings LLC acquired a new stake in shares of Cathay General Bancorp during the third quarter valued at approximately $6,271,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Cathay General Bancorp by 3.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,758,777 shares of the bank’s stock worth $118,489,000 after purchasing an additional 87,847 shares during the period. 75.01% of the stock is owned by institutional investors.

Cathay General Bancorp Stock Performance

NASDAQ:CATY opened at $47.08 on Friday. The firm has a market capitalization of $3.35 billion, a PE ratio of 11.86 and a beta of 1.13. 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 12-month low of $33.88 and a 12-month high of $55.29. The firm has a 50-day moving average price of $49.91 and a 200 day moving average price of $44.87.

Cathay General Bancorp (NASDAQ:CATY) last posted its earnings results on Monday, October 21st. The bank reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.01). The firm had revenue of $359.86 million during the quarter, compared to the consensus estimate of $182.70 million. Cathay General Bancorp had a return on equity of 11.30% and a net margin of 20.57%. During the same period in the previous year, the company posted $1.13 EPS. Research analysts anticipate that Cathay General Bancorp will post 3.99 earnings per share for the current fiscal year.

Cathay General Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Wednesday, November 27th were given a dividend of $0.34 per share. The ex-dividend date was Wednesday, November 27th. This represents a $1.36 dividend on an annualized basis and a yield of 2.89%. Cathay General Bancorp’s dividend payout ratio (DPR) is presently 34.26%.

Analyst Upgrades and Downgrades

CATY has been the topic of a number of research analyst reports. Stephens upgraded Cathay General Bancorp from an “equal weight” rating to an “overweight” rating in a report on Monday, December 9th. Truist Financial raised their price target on shares of Cathay General Bancorp from $45.00 to $47.00 and gave the stock a “hold” rating in a report on Friday, September 20th. Keefe, Bruyette & Woods increased their target price on shares of Cathay General Bancorp from $45.00 to $56.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, Wedbush upped their price target on shares of Cathay General Bancorp from $50.00 to $52.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Cathay General Bancorp has an average rating of “Hold” and an average target price of $47.75.

Insider Buying and Selling at Cathay General Bancorp

In other news, Vice Chairman Peter Wu sold 7,289 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $47.05, for a total transaction of $342,947.45. Following the completion of the sale, the insider now owns 347,963 shares in the company, valued at $16,371,659.15. The trade was a 2.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Thomas M. Lo sold 900 shares of Cathay General Bancorp stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $47.00, for a total value of $42,300.00. Following the completion of the sale, the executive vice president now owns 3,359 shares of the company’s stock, valued at approximately $157,873. The trade was a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,189 shares of company stock worth $2,500,047. 4.76% 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.