SG Americas Securities LLC Buys 2,659 Shares of Cathay General Bancorp (NASDAQ:CATY)

SG Americas Securities LLC boosted its stake in shares of Cathay General Bancorp (NASDAQ:CATY) by 96.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,411 shares of the bank’s stock after acquiring an additional 2,659 shares during the quarter. SG Americas Securities LLC’s holdings in Cathay General Bancorp were worth $258,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CATY. Assenagon Asset Management S.A. boosted its stake in Cathay General Bancorp by 821.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 381,764 shares of the bank’s stock valued at $18,176,000 after acquiring an additional 340,329 shares during the last quarter. Nordea Investment Management AB grew its position in Cathay General Bancorp by 5.0% in the fourth quarter. Nordea Investment Management AB now owns 151,459 shares of the bank’s stock valued at $7,256,000 after purchasing an additional 7,186 shares in the last quarter. GAMMA Investing LLC raised its holdings 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 acquiring an additional 657 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Cathay General Bancorp by 6.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 156,125 shares of the bank’s stock worth $6,706,000 after purchasing an additional 9,724 shares during the last quarter. Finally, Sanctuary Advisors LLC lifted its holdings in Cathay General Bancorp by 92.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 20,728 shares of the bank’s stock valued at $890,000 after purchasing an additional 9,945 shares during the last quarter. Institutional investors and hedge funds own 75.01% of the company’s stock.

Analyst Upgrades and Downgrades

CATY has been the subject of a number of analyst reports. Keefe, Bruyette & Woods dropped their price target on shares of Cathay General Bancorp from $56.00 to $55.00 and set a “market perform” rating for the company in a research report on Thursday, January 23rd. Stephens cut their target price 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. Wedbush increased their target price on Cathay General Bancorp from $50.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Finally, Piper Sandler reduced their price objective on shares of Cathay General Bancorp from $45.00 to $43.00 and set an “underweight” rating for the company in a research report on Monday, January 27th. One investment 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. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $50.80.

Cathay General Bancorp Trading Up 0.9 %

CATY opened at $47.60 on Friday. Cathay General Bancorp has a one year low of $33.88 and a one year high of $55.29. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.03 and a quick ratio of 1.03. The business has a 50 day simple moving average of $48.45 and a two-hundred day simple moving average of $46.11. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of 12.02 and a beta of 1.12.

Cathay General Bancorp (NASDAQ:CATY) last announced its quarterly earnings results on Wednesday, January 22nd. The bank reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.02. Cathay General Bancorp had a net margin of 20.57% and a return on equity of 10.70%. Analysts predict that Cathay General Bancorp will post 4.33 EPS for the current year.

Cathay General Bancorp Dividend Announcement

The business also recently announced 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 of this dividend was Wednesday, November 27th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.86%. Cathay General Bancorp’s dividend payout ratio is 34.34%.

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.