Swiss National Bank Sells 300 Shares of Cathay General Bancorp (NASDAQ:CATY)

Swiss National Bank decreased its stake in shares of Cathay General Bancorp (NASDAQ:CATY) by 0.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 134,800 shares of the bank’s stock after selling 300 shares during the quarter. Swiss National Bank’s holdings in Cathay General Bancorp were worth $6,418,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CATY. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Cathay General Bancorp by 36.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,581 shares of the bank’s stock worth $980,000 after buying an additional 5,550 shares during the last quarter. Amundi lifted its stake in Cathay General Bancorp by 161.4% in the fourth quarter. Amundi now owns 38,422 shares of the bank’s stock valued at $1,810,000 after acquiring an additional 23,722 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Cathay General Bancorp in the 4th quarter valued at about $396,000. Proficio Capital Partners LLC acquired a new position in shares of Cathay General Bancorp during the 4th quarter worth about $2,016,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Cathay General Bancorp by 3.7% in the 4th 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 during the period. Institutional investors own 75.01% of the company’s stock.

Analyst Ratings Changes

CATY has been the topic of a number of recent analyst reports. Stephens lowered 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. Keefe, Bruyette & Woods decreased their target price on Cathay General Bancorp from $56.00 to $55.00 and set a “market perform” rating on the stock in a report on Thursday, January 23rd. Finally, Piper Sandler cut their price target on Cathay General Bancorp from $45.00 to $43.00 and set an “underweight” rating for the company in a report on Monday, January 27th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $50.80.

Cathay General Bancorp Price Performance

Cathay General Bancorp stock opened at $43.28 on Monday. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of 10.93 and a beta of 1.09. The stock’s 50 day moving average is $46.11 and its 200-day moving average is $46.71. 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 has a 12 month low of $33.88 and a 12 month high of $55.29.

Cathay General Bancorp (NASDAQ:CATY) last posted its earnings results on Wednesday, January 22nd. The bank reported $1.12 earnings per share for the quarter, topping 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 research analysts expect that Cathay General Bancorp will post 4.47 EPS for the current year.

Cathay General Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Thursday, February 27th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend was Thursday, February 27th. Cathay General Bancorp’s dividend payout ratio is currently 34.34%.

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.