Mirae Asset Global Investments Co. Ltd. Purchases 7,837 Shares of Cathay General Bancorp (NASDAQ:CATY)

Mirae Asset Global Investments Co. Ltd. increased its position in shares of Cathay General Bancorp (NASDAQ:CATY) by 17.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,236 shares of the bank’s stock after buying an additional 7,837 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Cathay General Bancorp were worth $2,509,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. FMR LLC grew its stake in Cathay General Bancorp by 332.3% in the third quarter. FMR LLC now owns 25,313 shares of the bank’s stock valued at $1,087,000 after purchasing an additional 19,458 shares during the last quarter. Geode Capital Management LLC lifted its position in Cathay General Bancorp by 1.2% during the third quarter. Geode Capital Management LLC now owns 1,713,650 shares of the bank’s stock valued at $73,615,000 after acquiring an additional 20,840 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Cathay General Bancorp by 3.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,758,777 shares of the bank’s stock valued at $118,489,000 after acquiring an additional 87,847 shares in the last quarter. Barclays PLC grew 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 last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Cathay General Bancorp by 6.6% during the third 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 in the last quarter. 75.01% of the stock is currently owned by institutional investors.

Cathay General Bancorp Trading Down 1.7 %

NASDAQ CATY opened at $46.77 on Monday. The company has a fifty day moving average of $48.35 and a 200 day moving average of $46.17. The company has a market capitalization of $3.33 billion, a PE ratio of 11.81 and a beta of 1.12. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.03 and a quick ratio of 1.03. Cathay General Bancorp has a 1 year low of $33.88 and a 1 year high of $55.29.

Cathay General Bancorp (NASDAQ:CATY) last issued its quarterly earnings data on Wednesday, January 22nd. The bank reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.02. Cathay General Bancorp had a return on equity of 10.70% and a net margin of 20.57%. Research analysts forecast that Cathay General Bancorp will post 4.29 earnings per share for the current year.

Cathay General Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Wednesday, November 27th were paid 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 2.91%. Cathay General Bancorp’s payout ratio is 34.34%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Stephens dropped their target price on Cathay General Bancorp from $60.00 to $57.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Wedbush increased their price objective on shares of Cathay General Bancorp from $50.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Piper Sandler dropped their target price on shares of Cathay General Bancorp from $45.00 to $43.00 and set an “underweight” rating on the stock in a research report on Monday, January 27th. Finally, Keefe, Bruyette & Woods decreased 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 report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $50.80.

Cathay General Bancorp Company 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.