American Century Companies Inc. Boosts Stake in Cathay General Bancorp (NASDAQ:CATY)

American Century Companies Inc. boosted its holdings in Cathay General Bancorp (NASDAQ:CATY) by 5.2% during the 4th quarter, Holdings Channel reports. The firm owned 1,471,066 shares of the bank’s stock after acquiring an additional 72,532 shares during the period. American Century Companies Inc.’s holdings in Cathay General Bancorp were worth $70,037,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Assenagon Asset Management S.A. grew its position in Cathay General Bancorp by 821.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 381,764 shares of the bank’s stock valued at $18,176,000 after buying an additional 340,329 shares during the period. Denali Advisors LLC boosted its stake in Cathay General Bancorp by 339.6% in the fourth quarter. Denali Advisors LLC now owns 143,727 shares of the bank’s stock valued at $6,843,000 after acquiring an additional 111,034 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Cathay General Bancorp by 3.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,861,501 shares of the bank’s stock valued at $136,236,000 after acquiring an additional 102,724 shares during the period. Barclays PLC increased its stake in shares of Cathay General Bancorp by 104.3% during the 3rd quarter. Barclays PLC now owns 145,690 shares of the bank’s stock worth $6,257,000 after purchasing an additional 74,394 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in shares of Cathay General Bancorp in the 4th quarter worth approximately $2,016,000. Institutional investors own 75.01% of the company’s stock.

Cathay General Bancorp Price Performance

Cathay General Bancorp stock opened at $43.98 on Wednesday. The firm has a market capitalization of $3.09 billion, a P/E ratio of 11.11 and a beta of 1.09. Cathay General Bancorp has a one year low of $33.88 and a one year high of $55.29. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.03 and a quick ratio of 1.03. The business has a fifty day moving average price of $46.00 and a 200-day moving average price of $46.74.

Cathay General Bancorp (NASDAQ:CATY) last issued its earnings results on Wednesday, January 22nd. The bank reported $1.12 EPS for the quarter, topping 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%. As a group, equities research analysts forecast that Cathay General Bancorp will post 4.47 EPS for the current year.

Cathay General Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Thursday, February 27th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.36 annualized dividend and a yield of 3.09%. Cathay General Bancorp’s dividend payout ratio is currently 34.34%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Keefe, Bruyette & Woods decreased their target price on Cathay General Bancorp from $56.00 to $55.00 and set a “market perform” rating for the company in a research report on Thursday, January 23rd. Piper Sandler cut their price target on 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, Stephens lowered their price objective 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. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $50.80.

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.