Cathay General Bancorp (NASDAQ:CATY) Shares Acquired by Coldstream Capital Management Inc.

Coldstream Capital Management Inc. increased its stake in shares of Cathay General Bancorp (NASDAQ:CATY) by 15.7% in the 4th quarter, HoldingsChannel reports. The firm owned 11,785 shares of the bank’s stock after buying an additional 1,596 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Cathay General Bancorp were worth $525,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its position in shares of Cathay General Bancorp by 16.0% in 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. Teacher Retirement System of Texas grew its position in shares of Cathay General Bancorp by 54.7% in the third quarter. Teacher Retirement System of Texas now owns 27,936 shares of the bank’s stock valued at $971,000 after purchasing an additional 9,876 shares during the period. Orion Portfolio Solutions LLC purchased a new position in Cathay General Bancorp during the third quarter worth about $288,000. Nisa Investment Advisors LLC lifted its position in Cathay General Bancorp by 545.5% during 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. Finally, Victory Capital Management Inc. boosted its stake in Cathay General Bancorp by 4.9% in the 3rd quarter. Victory Capital Management Inc. now owns 84,087 shares of the bank’s stock worth $2,923,000 after buying an additional 3,908 shares during the last quarter. Hedge funds and other institutional investors own 75.01% of the company’s stock.

Cathay General Bancorp Price Performance

CATY stock opened at $36.11 on Friday. The stock has a 50-day simple moving average of $36.57 and a 200-day simple moving average of $39.10. The firm has a market cap of $2.63 billion, a P/E ratio of 7.99 and a beta of 1.12. 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 1 year low of $28.95 and a 1 year high of $45.72.

Cathay General Bancorp (NASDAQ:CATY) last posted its earnings results on Monday, April 22nd. The bank reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.04). Cathay General Bancorp had a return on equity of 13.02% and a net margin of 24.41%. The firm had revenue of $339.25 million for the quarter, compared to analyst estimates of $188.85 million. During the same period in the previous year, the firm posted $1.32 earnings per share. On average, equities analysts predict that Cathay General Bancorp will post 3.94 earnings per share for the current fiscal year.

Cathay General Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Thursday, May 30th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 3.77%. The ex-dividend date of this dividend is Thursday, May 30th. Cathay General Bancorp’s dividend payout ratio (DPR) is 30.09%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Truist Financial decreased 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. StockNews.com raised shares of Cathay General Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday. Wedbush restated an “outperform” rating and set a $44.00 price objective on shares of Cathay General Bancorp in a report on Tuesday, April 23rd. Finally, Keefe, Bruyette & Woods lowered their price target on Cathay General Bancorp from $46.00 to $41.00 and set a “market perform” rating for the company in a research report on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Cathay General Bancorp currently has an average rating of “Hold” and an average price target of $39.00.

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.