Prudential Financial Inc. Sells 5,304 Shares of Cathay General Bancorp (NASDAQ:CATY)

Prudential Financial Inc. decreased its stake in shares of Cathay General Bancorp (NASDAQ:CATY) by 4.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 112,460 shares of the bank’s stock after selling 5,304 shares during the quarter. Prudential Financial Inc. owned 0.16% of Cathay General Bancorp worth $5,823,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in CATY. Venturi Wealth Management LLC bought a new position in Cathay General Bancorp during the fourth quarter valued at about $82,000. Smartleaf Asset Management LLC grew its holdings in shares of Cathay General Bancorp by 189.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,794 shares of the bank’s stock worth $86,000 after purchasing an additional 1,175 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Cathay General Bancorp by 42.9% during the fourth quarter. GAMMA Investing LLC now owns 2,188 shares of the bank’s stock valued at $104,000 after purchasing an additional 657 shares during the period. KBC Group NV raised its stake in shares of Cathay General Bancorp by 68.5% in the fourth quarter. KBC Group NV now owns 3,730 shares of the bank’s stock valued at $178,000 after purchasing an additional 1,517 shares in the last quarter. Finally, Xponance Inc. bought a new position in Cathay General Bancorp in the fourth quarter worth $239,000. Institutional investors and hedge funds own 75.01% of the company’s stock.

Cathay General Bancorp Price Performance

NASDAQ:CATY opened at $42.63 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 $3.00 billion, a PE ratio of 10.77 and a beta of 1.09. Cathay General Bancorp has a 12 month low of $33.88 and a 12 month high of $55.29. The company’s 50-day moving average price is $45.70 and its two-hundred day moving average price is $46.77.

Cathay General Bancorp (NASDAQ:CATY) last released its quarterly earnings results on Wednesday, January 22nd. The bank reported $1.12 EPS 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, equities analysts anticipate that Cathay General Bancorp will post 4.47 EPS for the current fiscal year.

Cathay General Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Thursday, February 27th were issued a $0.34 dividend. The ex-dividend date was Thursday, February 27th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.19%. Cathay General Bancorp’s dividend payout ratio is 34.34%.

Analyst Ratings Changes

CATY has been the topic of several analyst reports. Stephens lowered their price target on shares of Cathay General Bancorp from $60.00 to $57.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. 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. Finally, Piper Sandler decreased their price objective 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target 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.