1,725 Shares in Cathay General Bancorp (NASDAQ:CATY) Bought by Venturi Wealth Management LLC

Venturi Wealth Management LLC purchased a new stake in shares of Cathay General Bancorp (NASDAQ:CATY) in the fourth quarter, Holdings Channel reports. The firm purchased 1,725 shares of the bank’s stock, valued at approximately $82,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its stake in shares of 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 buying an additional 87,847 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Cathay General Bancorp by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,713,650 shares of the bank’s stock worth $73,615,000 after acquiring an additional 20,840 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Cathay General Bancorp by 821.4% in the 4th 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 in the last quarter. Principal Financial Group Inc. boosted its stake in Cathay General Bancorp by 1.5% during the 4th quarter. Principal Financial Group Inc. now owns 345,597 shares of the bank’s stock valued at $16,454,000 after purchasing an additional 5,114 shares during the last quarter. Finally, Stieven Capital Advisors L.P. boosted its stake in Cathay General Bancorp by 2.2% during the 4th quarter. Stieven Capital Advisors L.P. now owns 262,004 shares of the bank’s stock valued at $12,474,000 after purchasing an additional 5,600 shares during the last quarter. Institutional investors own 75.01% of the company’s stock.

Cathay General Bancorp Stock Performance

CATY stock opened at $45.84 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.07. The firm has a market cap of $3.26 billion, a PE ratio of 11.58 and a beta of 1.12. The business has a 50 day moving average of $47.41 and a 200-day moving average of $46.45. 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 announced its quarterly earnings data 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%. As a group, sell-side analysts expect that Cathay General Bancorp will post 4.47 earnings per share for the current year.

Cathay General Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Thursday, February 27th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $1.36 dividend on an annualized basis and a yield of 2.97%. Cathay General Bancorp’s dividend payout ratio (DPR) is presently 34.34%.

Wall Street Analysts Forecast Growth

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