Strs Ohio Acquires 600 Shares of Cathay General Bancorp (NASDAQ:CATY)

Posted by Defense World Staff on Nov 2nd, 2023

Strs Ohio raised its holdings in Cathay General Bancorp (NASDAQ:CATY – Free Report) by 8.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,500 shares of the bank’s stock after purchasing an additional 600 shares during the quarter. Strs Ohio’s holdings in Cathay General Bancorp were worth $241,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Advisor Group Holdings Inc. raised its position in Cathay General Bancorp by 1.0% in the 4th quarter. Advisor Group Holdings Inc. now owns 32,197 shares of the bank’s stock valued at $1,313,000 after purchasing an additional 303 shares during the last quarter. State of Wyoming raised its position 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 worth $54,000 after acquiring an additional 318 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position 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 worth $972,000 after acquiring an additional 361 shares during the last quarter. Lazard Asset Management LLC raised its position 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 worth $52,000 after acquiring an additional 374 shares during the last quarter. Finally, Covestor Ltd raised its position in shares of Cathay General Bancorp by 73.5% during the first quarter. Covestor Ltd now owns 1,157 shares of the bank’s stock worth $52,000 after acquiring an additional 490 shares during the last quarter. Institutional investors own 69.01% of the company’s stock.

Cathay General Bancorp Stock Up 1.5 %

NASDAQ:CATY opened at $34.42 on Thursday. Cathay General Bancorp has a 1 year low of $27.24 and a 1 year high of $47.30. The company has a current ratio of 1.02, a quick ratio of 1.07 and a debt-to-equity ratio of 0.06. The stock has a market cap of $2.50 billion, a price-to-earnings ratio of 6.80 and a beta of 1.16. The stock has a 50-day moving average price of $35.03 and a two-hundred day moving average price of $33.84.

Cathay General Bancorp (NASDAQ:CATY – Get Free Report) last posted its earnings results on Monday, October 23rd. The bank reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.01. Cathay General Bancorp had a return on equity of 14.40% and a net margin of 30.02%. The firm had revenue of $193.48 million during the quarter, compared to analysts’ expectations of $196.04 million. During the same period in the previous year, the firm earned $1.35 earnings per share. The company’s revenue was down 6.7% on a year-over-year basis. As a group, equities analysts expect that Cathay General Bancorp will post 4.76 earnings per share for the current year.

Cathay General Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Wednesday, August 30th were given a dividend of $0.34 per share. The ex-dividend date was Tuesday, August 29th. This represents a $1.36 annualized dividend and a dividend yield of 3.95%. Cathay General Bancorp’s dividend payout ratio is currently 26.88%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. StockNews.com downgraded Cathay General Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, September 29th. DA Davidson boosted their target price on Cathay General Bancorp from $34.00 to $41.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 25th. Piper Sandler dropped their target price on Cathay General Bancorp from $32.00 to $31.00 and set a “neutral” rating for the company in a research report on Tuesday, October 24th. Wedbush decreased their price objective on Cathay General Bancorp from $42.00 to $40.00 and set an “outperform” rating for the company in a research note on Tuesday, October 24th. Finally, Truist Financial decreased their price objective on Cathay General Bancorp from $40.00 to $38.00 and set a “hold” rating for the company in a research note on Wednesday, September 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $38.83.

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Cathay General Bancorp Profile

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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.