Principal Financial Group Inc. boosted its position in shares of Cathay General Bancorp (NASDAQ:CATY – Free Report) by 8.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,370,261 shares of the bank’s stock after buying an additional 104,923 shares during the quarter. Principal Financial Group Inc. owned 1.89% of Cathay General Bancorp worth $47,301,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Advisor Group Holdings Inc. boosted its stake in Cathay General Bancorp by 1.0% during the fourth quarter. Advisor Group Holdings Inc. now owns 32,197 shares of the bank’s stock worth $1,313,000 after buying an additional 303 shares during the period. State of Wyoming boosted its stake in shares of Cathay General Bancorp by 31.7% during the fourth quarter. State of Wyoming now owns 1,321 shares of the bank’s stock valued at $54,000 after purchasing an additional 318 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Cathay General Bancorp by 1.5% during the second quarter. Price T Rowe Associates Inc. MD now owns 24,826 shares of the bank’s stock valued at $972,000 after purchasing an additional 361 shares during the period. Lazard Asset Management LLC boosted its stake in shares of Cathay General Bancorp by 41.4% during the fourth quarter. Lazard Asset Management LLC now owns 1,277 shares of the bank’s stock valued at $52,000 after purchasing an additional 374 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Cathay General Bancorp by 4.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,065 shares of the bank’s stock valued at $411,000 after purchasing an additional 441 shares during the period. 68.29% of the stock is owned by hedge funds and other institutional investors.
Cathay General Bancorp Stock Performance
Shares of Cathay General Bancorp stock opened at $35.10 on Friday. The company has a market capitalization of $2.55 billion, a PE ratio of 6.65 and a beta of 1.17. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.07 and a current ratio of 1.07. The company has a 50-day simple moving average of $34.93 and a two-hundred day simple moving average of $35.49. Cathay General Bancorp has a one year low of $27.24 and a one year high of $47.30.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on CATY. StockNews.com began coverage on shares of Cathay General Bancorp in a research note on Thursday. They set a “hold” rating for the company. Piper Sandler boosted their target price on shares of Cathay General Bancorp from $32.00 to $34.00 in a research note on Tuesday, July 25th. DA Davidson upped their price objective on shares of Cathay General Bancorp from $34.00 to $41.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 25th. Truist Financial upped their price objective on shares of Cathay General Bancorp from $34.00 to $40.00 in a research note on Wednesday, July 26th. Finally, VNET Group reaffirmed a “maintains” rating on shares of Cathay General Bancorp in a research note on Thursday, June 29th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $40.50.
Check Out Our Latest Analysis on Cathay General Bancorp
Cathay General Bancorp Company 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.
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