Cathay General Bancorp (NASDAQ:CATY) Shares Sold by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. trimmed its holdings in shares of Cathay General Bancorp (NASDAQ:CATY) by 3.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 319,430 shares of the bank’s stock after selling 11,292 shares during the quarter. Jupiter Asset Management Ltd. owned approximately 0.44% of Cathay General Bancorp worth $12,084,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Prime Capital Investment Advisors LLC raised its stake in Cathay General Bancorp by 4.1% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 6,302 shares of the bank’s stock valued at $281,000 after purchasing an additional 247 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in Cathay General Bancorp by 8.4% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 9,314 shares of the bank’s stock valued at $352,000 after purchasing an additional 720 shares during the last quarter. Texas Permanent School Fund Corp raised its stake in Cathay General Bancorp by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 63,582 shares of the bank’s stock valued at $2,405,000 after purchasing an additional 824 shares during the last quarter. ProShare Advisors LLC raised its stake in Cathay General Bancorp by 7.3% in the 1st quarter. ProShare Advisors LLC now owns 14,089 shares of the bank’s stock valued at $533,000 after purchasing an additional 960 shares during the last quarter. Finally, GAMMA Investing LLC acquired a new position in Cathay General Bancorp in the 4th quarter valued at $51,000. 75.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on CATY shares. Truist Financial reduced their price objective on Cathay General Bancorp from $40.00 to $38.00 and set a “hold” rating for the company in a research note on Thursday, April 25th. StockNews.com raised Cathay General Bancorp from a “sell” rating to a “hold” rating in a research note on Friday. Keefe, Bruyette & Woods cut their target price on Cathay General Bancorp from $46.00 to $41.00 and set a “market perform” rating for the company in a research note on Tuesday, April 23rd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $44.00 target price on shares of Cathay General Bancorp in a research note on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Cathay General Bancorp presently has an average rating of “Hold” and an average target price of $39.00.

Cathay General Bancorp Trading Down 1.6 %

Shares of NASDAQ CATY traded down $0.69 during mid-day trading on Friday, reaching $42.00. 543,739 shares of the company’s stock were exchanged, compared to its average volume of 357,770. The firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of 9.29 and a beta of 1.13. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.03 and a current ratio of 1.04. Cathay General Bancorp has a 52-week low of $32.08 and a 52-week high of $45.72. The company’s 50-day moving average is $37.31 and its 200-day moving average is $38.37.

Cathay General Bancorp (NASDAQ:CATY) last released its quarterly earnings results on Monday, April 22nd. The bank reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.04). The business had revenue of $339.25 million for the quarter, compared to analysts’ expectations of $188.85 million. Cathay General Bancorp had a return on equity of 13.02% and a net margin of 24.41%. During the same quarter in the prior year, the company posted $1.32 earnings per share. Analysts expect that Cathay General Bancorp will post 3.95 EPS for the current fiscal year.

Cathay General Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Thursday, May 30th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date was Thursday, May 30th. Cathay General Bancorp’s dividend payout ratio is presently 30.09%.

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.