TIAA Trust National Association Acquires Shares of 4,279 Cathay General Bancorp (NASDAQ:CATY)

TIAA Trust National Association purchased a new position in Cathay General Bancorp (NASDAQ:CATY) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,279 shares of the bank’s stock, valued at approximately $204,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Venturi Wealth Management LLC purchased a new stake in shares of Cathay General Bancorp during the 4th quarter worth $82,000. Smartleaf Asset Management LLC raised its holdings in shares of Cathay General Bancorp by 189.8% during the fourth 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 during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Cathay General Bancorp by 42.9% in the 4th quarter. GAMMA Investing LLC now owns 2,188 shares of the bank’s stock valued at $104,000 after buying an additional 657 shares during the period. KBC Group NV lifted its holdings in 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 acquiring an additional 1,517 shares during the period. Finally, Xponance Inc. purchased a new stake in Cathay General Bancorp during the fourth quarter worth $239,000. 75.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on CATY shares. Piper Sandler dropped 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. Stephens cut their price objective on shares of Cathay General Bancorp from $60.00 to $57.00 and set an “overweight” rating for the company in a 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 on the stock in a report on Thursday, January 23rd. 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 stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $50.80.

Cathay General Bancorp Stock Down 1.9 %

Cathay General Bancorp stock opened at $42.63 on Friday. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of 10.77 and a beta of 1.09. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.07. The stock has a 50 day moving average of $45.70 and a two-hundred day moving average of $46.70. Cathay General Bancorp has a twelve month low of $33.88 and a twelve month high of $55.29.

Cathay General Bancorp (NASDAQ:CATY) last issued its earnings results 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 net margin of 20.57% and a return on equity of 10.70%. As a group, research analysts expect that Cathay General Bancorp will post 4.47 earnings per share for the current year.

Cathay General Bancorp Announces Dividend

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

About Cathay General Bancorp

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.