WINTON GROUP Ltd Raises Position in Cathay General Bancorp (NASDAQ:CATY)

WINTON GROUP Ltd lifted its stake in Cathay General Bancorp (NASDAQ:CATY) by 32.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 21,847 shares of the bank’s stock after purchasing an additional 5,310 shares during the quarter. WINTON GROUP Ltd’s holdings in Cathay General Bancorp were worth $1,040,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its stake in Cathay General Bancorp by 3.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,861,501 shares of the bank’s stock worth $136,236,000 after buying an additional 102,724 shares during the period. Geode Capital Management LLC boosted its stake in shares of Cathay General Bancorp by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,713,650 shares of the bank’s stock worth $73,615,000 after purchasing an additional 20,840 shares during the period. American Century Companies Inc. grew its holdings in Cathay General Bancorp by 5.2% during the 4th quarter. American Century Companies Inc. now owns 1,471,066 shares of the bank’s stock valued at $70,037,000 after purchasing an additional 72,532 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Cathay General Bancorp by 821.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 381,764 shares of the bank’s stock worth $18,176,000 after purchasing an additional 340,329 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in Cathay General Bancorp by 1.5% in the fourth quarter. Principal Financial Group Inc. now owns 345,597 shares of the bank’s stock worth $16,454,000 after purchasing an additional 5,114 shares during the last quarter. Institutional investors own 75.01% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on CATY. Keefe, Bruyette & Woods cut their target price on 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. Stephens reduced their target price on Cathay General Bancorp from $60.00 to $57.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Finally, Piper Sandler lowered their target price 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $50.80.

Cathay General Bancorp Trading Down 1.9 %

CATY opened at $42.63 on Friday. 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 stock’s fifty day moving average is $45.70 and its two-hundred day moving average is $46.70. The company has a market capitalization of $3.00 billion, a P/E ratio of 10.77 and a beta of 1.09. Cathay General Bancorp has a 52 week low of $33.88 and a 52 week high of $55.29.

Cathay General Bancorp (NASDAQ:CATY) last announced its quarterly earnings results on Wednesday, January 22nd. The bank reported $1.12 EPS for the quarter, beating the consensus estimate of $1.10 by $0.02. Cathay General Bancorp had a return on equity of 10.70% and a net margin of 20.57%. Analysts forecast that Cathay General Bancorp will post 4.47 earnings per share for the current year.

Cathay General Bancorp Dividend Announcement

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