Natixis Advisors LLC Buys 2,002 Shares of Cathay General Bancorp (NASDAQ:CATY)

Natixis Advisors LLC increased its stake in Cathay General Bancorp (NASDAQ:CATY) by 16.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,916 shares of the bank’s stock after purchasing an additional 2,002 shares during the quarter. Natixis Advisors LLC’s holdings in Cathay General Bancorp were worth $663,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Cathay General Bancorp by 36.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,581 shares of the bank’s stock valued at $980,000 after buying an additional 5,550 shares during the period. Amundi increased its holdings in Cathay General Bancorp by 161.4% in the 4th quarter. Amundi now owns 38,422 shares of the bank’s stock worth $1,810,000 after acquiring an additional 23,722 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Cathay General Bancorp in the 4th quarter valued at about $396,000. Proficio Capital Partners LLC purchased a new stake in Cathay General Bancorp during the fourth quarter valued at about $2,016,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Cathay General Bancorp by 3.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,861,501 shares of the bank’s stock worth $136,236,000 after purchasing an additional 102,724 shares during the period. Hedge funds and other institutional investors own 75.01% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Piper Sandler lowered their price target 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. 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 report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods reduced their price target on 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $50.80.

Cathay General Bancorp Stock Down 0.9 %

Shares of NASDAQ:CATY opened at $43.60 on Thursday. The firm has a fifty day moving average price of $45.90 and a two-hundred day moving average price of $46.72. The company has a market cap of $3.06 billion, a price-to-earnings ratio of 11.01 and a beta of 1.09. 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 one year low of $33.88 and a one year high of $55.29.

Cathay General Bancorp (NASDAQ:CATY) last posted 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%. Analysts anticipate that Cathay General Bancorp will post 4.47 EPS for the current fiscal year.

Cathay General Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Thursday, February 27th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 3.12%. The ex-dividend date was Thursday, February 27th. Cathay General Bancorp’s dividend payout ratio (DPR) is 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.