Strs Ohio Reduces Stake in Cathay General Bancorp (NASDAQ:CATY)

Strs Ohio cut its stake in shares of Cathay General Bancorp (NASDAQ:CATY) by 70.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,200 shares of the bank’s stock after selling 5,300 shares during the period. Strs Ohio’s holdings in Cathay General Bancorp were worth $98,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of Cathay General Bancorp during the 3rd quarter worth about $109,000. Allspring Global Investments Holdings LLC grew its stake in shares of Cathay General Bancorp by 16.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,559 shares of the bank’s stock valued at $124,000 after buying an additional 491 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Cathay General Bancorp by 545.5% in the third quarter. Nisa Investment Advisors LLC now owns 4,260 shares of the bank’s stock worth $148,000 after buying an additional 3,600 shares during the period. Capstone Capital Wealth Advisors bought a new stake in shares of Cathay General Bancorp during the 4th quarter worth approximately $225,000. Finally, Vest Financial LLC purchased a new position in Cathay General Bancorp during the 4th quarter valued at $239,000. 75.01% of the stock is owned by institutional investors.

Cathay General Bancorp Trading Up 2.1 %

NASDAQ CATY opened at $35.18 on Thursday. Cathay General Bancorp has a one year low of $27.24 and a one year high of $45.72. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.03 and a current ratio of 1.04. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of 7.78 and a beta of 1.12. The company’s 50-day simple moving average is $37.39 and its two-hundred day simple moving average is $38.84.

Cathay General Bancorp (NASDAQ:CATY) last released its quarterly earnings data on Monday, April 22nd. The bank reported $0.98 earnings per share (EPS) 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 the consensus estimate of $188.85 million. Cathay General Bancorp had a net margin of 24.41% and a return on equity of 13.02%. During the same quarter in the prior year, the business posted $1.32 earnings per share. Equities analysts forecast that Cathay General Bancorp will post 3.93 EPS for the current fiscal year.

Cathay General Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Wednesday, February 28th were issued a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.87%. Cathay General Bancorp’s dividend payout ratio is presently 30.09%.

Analysts Set New Price Targets

Several research firms have recently weighed in on CATY. StockNews.com downgraded Cathay General Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, April 6th. Wedbush reiterated an “outperform” rating and set a $44.00 price objective on shares of Cathay General Bancorp in a report on Tuesday, April 23rd. Keefe, Bruyette & Woods dropped their target price on shares of Cathay General Bancorp from $46.00 to $41.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 23rd. Finally, Truist Financial reduced their target price on shares of Cathay General Bancorp from $40.00 to $38.00 and set a “hold” rating on the stock in a research report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $39.00.

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.