Legato Capital Management LLC Boosts Position in Cathay General Bancorp (NASDAQ:CATY)

Legato Capital Management LLC boosted its position 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 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CATY. CWM LLC boosted its holdings in shares of Cathay General Bancorp by 19.9% in the third quarter. CWM LLC now owns 1,517 shares of the bank’s stock worth $65,000 after buying an additional 252 shares during the last quarter. GAMMA Investing LLC raised its position in Cathay General Bancorp by 24.9% in the third quarter. GAMMA Investing LLC now owns 1,531 shares of the bank’s stock worth $66,000 after acquiring an additional 305 shares during the period. Captrust Financial Advisors boosted its stake in shares of Cathay General Bancorp by 1.7% during the 3rd quarter. Captrust Financial Advisors now owns 23,264 shares of the bank’s stock worth $999,000 after acquiring an additional 399 shares during the last quarter. Aigen Investment Management LP grew its position in shares of Cathay General Bancorp by 11.7% during the 3rd quarter. Aigen Investment Management LP now owns 6,108 shares of the bank’s stock valued at $262,000 after acquiring an additional 639 shares during the period. Finally, Congress Asset Management Co. increased its stake in shares of Cathay General Bancorp by 1.0% in the 3rd quarter. Congress Asset Management Co. now owns 150,938 shares of the bank’s stock worth $6,483,000 after purchasing an additional 1,457 shares in the last quarter. 75.01% of the stock is currently owned by institutional investors.

Cathay General Bancorp Stock Down 2.7 %

NASDAQ CATY opened at $45.86 on Thursday. Cathay General Bancorp has a 12 month low of $33.88 and a 12 month high of $55.29. 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 stock has a market cap of $3.27 billion, a PE ratio of 11.58 and a beta of 1.12. The stock’s 50 day moving average is $48.04 and its 200 day moving average is $46.19.

Cathay General Bancorp (NASDAQ:CATY) last released 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 net margin of 20.57% and a return on equity of 10.70%. Research analysts predict that Cathay General Bancorp will post 4.29 EPS for the current fiscal year.

Cathay General Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Wednesday, November 27th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 2.97%. The ex-dividend date was Wednesday, November 27th. Cathay General Bancorp’s dividend payout ratio (DPR) is presently 34.34%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CATY. 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 report on Monday, January 27th. Keefe, Bruyette & Woods cut their price objective on Cathay General Bancorp from $56.00 to $55.00 and set a “market perform” rating for the company in a research note on Thursday, January 23rd. Wedbush raised their target price 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. Finally, Stephens dropped their price target on shares of Cathay General Bancorp from $60.00 to $57.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. 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. According to MarketBeat, Cathay General Bancorp currently has a consensus rating of “Hold” and a consensus target price 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.