Amundi Has $1.81 Million Stock Position in Cathay General Bancorp (NASDAQ:CATY)

Amundi increased its stake in shares of Cathay General Bancorp (NASDAQ:CATY) by 161.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,422 shares of the bank’s stock after purchasing an additional 23,722 shares during the period. Amundi owned approximately 0.05% of Cathay General Bancorp worth $1,810,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CATY. Assenagon Asset Management S.A. grew its position in shares of Cathay General Bancorp by 821.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 381,764 shares of the bank’s stock worth $18,176,000 after buying an additional 340,329 shares during the period. Foundry Partners LLC bought a new position in Cathay General Bancorp during the 3rd quarter worth approximately $7,493,000. Denali Advisors LLC grew its holdings in Cathay General Bancorp by 339.6% during the fourth quarter. Denali Advisors LLC now owns 143,727 shares of the bank’s stock valued at $6,843,000 after purchasing an additional 111,034 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Cathay General Bancorp by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,861,501 shares of the bank’s stock valued at $136,236,000 after purchasing an additional 102,724 shares in the last quarter. Finally, Barclays PLC raised its holdings in Cathay General Bancorp by 104.3% in the third quarter. Barclays PLC now owns 145,690 shares of the bank’s stock worth $6,257,000 after purchasing an additional 74,394 shares during the period. Institutional investors own 75.01% of the company’s stock.

Cathay General Bancorp Price Performance

CATY stock opened at $43.98 on Tuesday. The stock has a market cap of $3.09 billion, a PE ratio of 11.11 and a beta of 1.09. The stock has a 50-day moving average price of $46.36 and a two-hundred day moving average price of $46.72. Cathay General Bancorp has a 1 year low of $33.88 and a 1 year high of $55.29. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.07.

Cathay General Bancorp (NASDAQ:CATY) last announced its earnings results on Wednesday, January 22nd. The bank reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.02. Cathay General Bancorp had a return on equity of 10.70% and a net margin of 20.57%. Equities analysts forecast that Cathay General Bancorp will post 4.47 EPS for the current fiscal year.

Cathay General Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Thursday, February 27th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend was Thursday, February 27th. Cathay General Bancorp’s payout ratio is 34.34%.

Wall Street Analyst Weigh In

CATY has been the subject of several research analyst reports. Piper Sandler decreased their price target on shares of Cathay General Bancorp from $45.00 to $43.00 and set an “underweight” rating for the company in a report on Monday, January 27th. Keefe, Bruyette & Woods lowered their price target on Cathay General Bancorp from $56.00 to $55.00 and set a “market perform” rating for the company in a report on Thursday, January 23rd. Finally, Stephens dropped their price target on Cathay General Bancorp from $60.00 to $57.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $50.80.

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.