Choreo LLC Sells 601 Shares of Cathay General Bancorp (NASDAQ:CATY)

Choreo LLC lowered its position in shares of Cathay General Bancorp (NASDAQ:CATY) by 4.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,183 shares of the bank’s stock after selling 601 shares during the period. Choreo LLC’s holdings in Cathay General Bancorp were worth $677,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC lifted its holdings in Cathay General Bancorp by 332.3% during the 3rd quarter. FMR LLC now owns 25,313 shares of the bank’s stock worth $1,087,000 after buying an additional 19,458 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Cathay General Bancorp by 17.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,236 shares of the bank’s stock worth $2,509,000 after buying an additional 7,837 shares during the period. Geode Capital Management LLC lifted its holdings in Cathay General Bancorp by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,713,650 shares of the bank’s stock worth $73,615,000 after buying an additional 20,840 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Cathay General Bancorp by 3.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,758,777 shares of the bank’s stock worth $118,489,000 after buying an additional 87,847 shares during the period. Finally, Barclays PLC lifted its holdings in Cathay General Bancorp by 104.3% during the 3rd quarter. Barclays PLC now owns 145,690 shares of the bank’s stock worth $6,257,000 after buying an additional 74,394 shares during the period. Institutional investors own 75.01% of the company’s stock.

Cathay General Bancorp Stock Down 0.9 %

CATY stock opened at $46.36 on Tuesday. The stock’s 50 day simple moving average is $48.24 and its 200 day simple moving average is $46.18. Cathay General Bancorp has a fifty-two week low of $33.88 and a fifty-two week high of $55.29. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market cap of $3.30 billion, a P/E ratio of 11.71 and a beta of 1.12.

Cathay General Bancorp (NASDAQ:CATY) last posted its quarterly 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%. On average, research analysts expect that Cathay General Bancorp will post 4.29 earnings per share for the current fiscal year.

Cathay General Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Wednesday, November 27th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date was Wednesday, November 27th. Cathay General Bancorp’s dividend payout ratio (DPR) is currently 34.34%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CATY shares. Piper Sandler cut their target price on Cathay General Bancorp from $45.00 to $43.00 and set an “underweight” rating on the stock in a report on Monday, January 27th. 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 report on Thursday, January 23rd. Wedbush lifted 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, Keefe, Bruyette & Woods dropped their price objective on Cathay General Bancorp from $56.00 to $55.00 and set a “market perform” rating on the stock in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average 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.