Legato Capital Management LLC Purchases 7,992 Shares of Cathay General Bancorp (NASDAQ:CATY)

Legato Capital Management LLC increased its holdings in Cathay General Bancorp (NASDAQ:CATY) by 39.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,504 shares of the bank’s stock after purchasing an additional 7,992 shares during the period. Legato Capital Management LLC’s holdings in Cathay General Bancorp were worth $1,357,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CATY. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Cathay General Bancorp by 17.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,236 shares of the bank’s stock worth $2,509,000 after buying an additional 7,837 shares during the last quarter. EMC Capital Management increased its stake in Cathay General Bancorp by 954.4% during the fourth quarter. EMC Capital Management now owns 10,544 shares of the bank’s stock worth $502,000 after acquiring an additional 9,544 shares during the last quarter. KBC Group NV raised its position in Cathay General Bancorp by 68.5% during 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 during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in shares of Cathay General Bancorp by 11.0% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 24,575 shares of the bank’s stock valued at $1,170,000 after purchasing an additional 2,443 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of Cathay General Bancorp by 96.6% in the 4th quarter. SG Americas Securities LLC now owns 5,411 shares of the bank’s stock worth $258,000 after purchasing an additional 2,659 shares during the period. Hedge funds and other institutional investors own 75.01% of the company’s stock.

Analyst Upgrades and Downgrades

CATY has been the topic of several recent research reports. Stephens decreased their price target on 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 reduced their target price on shares of Cathay General Bancorp from $56.00 to $55.00 and set a “market perform” rating on the stock in a research note on Thursday, January 23rd. Piper Sandler dropped their price target on shares of Cathay General Bancorp from $45.00 to $43.00 and set an “underweight” rating for the company in a research note on Monday, January 27th. Finally, Wedbush raised their price objective on shares of Cathay General Bancorp from $50.00 to $52.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $50.80.

Cathay General Bancorp Stock Down 2.7 %

Shares of CATY opened at $45.86 on Thursday. The firm has a fifty day moving average price of $48.04 and a 200-day moving average price of $46.19. 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 firm has a market capitalization of $3.27 billion, a P/E ratio of 11.58 and a beta of 1.12. 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 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%. Equities research analysts expect that Cathay General Bancorp will post 4.29 earnings per share for the current year.

Cathay General Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Wednesday, November 27th were issued a $0.34 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.97%. Cathay General Bancorp’s payout ratio is 34.34%.

Cathay General Bancorp Company 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.