Healthcare of Ontario Pension Plan Trust Fund Makes New $946,000 Investment in Cathay General Bancorp (NASDAQ:CATY)

Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Cathay General Bancorp (NASDAQ:CATY) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 25,000 shares of the bank’s stock, valued at approximately $946,000.

Several other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC bought a new position in Cathay General Bancorp during the fourth quarter worth about $51,000. Bessemer Group Inc. lifted its position in shares of Cathay General Bancorp by 16.6% in the first quarter. Bessemer Group Inc. now owns 3,675 shares of the bank’s stock valued at $139,000 after buying an additional 523 shares during the last quarter. Headlands Technologies LLC boosted its stake in shares of Cathay General Bancorp by 12,039.0% during the 1st quarter. Headlands Technologies LLC now owns 4,977 shares of the bank’s stock worth $188,000 after acquiring an additional 4,936 shares during the period. TFO Wealth Partners LLC increased its holdings in shares of Cathay General Bancorp by 22,160.0% during the 4th quarter. TFO Wealth Partners LLC now owns 4,452 shares of the bank’s stock worth $198,000 after acquiring an additional 4,432 shares during the last quarter. Finally, Sciencast Management LP bought a new stake in Cathay General Bancorp in the 1st quarter valued at $206,000. 75.01% of the stock is currently owned by institutional investors and hedge funds.

Cathay General Bancorp Stock Up 4.0 %

Shares of NASDAQ CATY opened at $44.97 on Friday. The stock has a 50-day moving average price of $37.77 and a two-hundred day moving average price of $38.41. Cathay General Bancorp has a 12 month low of $32.08 and a 12 month high of $45.72. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.11. The company has a market cap of $3.27 billion, a price-to-earnings ratio of 9.95 and a beta of 1.13.

Cathay General Bancorp (NASDAQ:CATY) last released its quarterly earnings data on Monday, July 22nd. The bank reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.02). Cathay General Bancorp had a return on equity of 11.96% and a net margin of 22.08%. The company had revenue of $178.53 million for the quarter, compared to analyst estimates of $179.19 million. During the same quarter in the prior year, the company earned $1.28 earnings per share. Cathay General Bancorp’s revenue for the quarter was down 12.8% compared to the same quarter last year. As a group, analysts forecast that Cathay General Bancorp will post 4 earnings per share for the current fiscal year.

Cathay General Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Thursday, May 30th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 3.02%. The ex-dividend date of this dividend was Thursday, May 30th. Cathay General Bancorp’s dividend payout ratio (DPR) is 30.09%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Piper Sandler lifted their price objective on shares of Cathay General Bancorp from $32.00 to $36.00 and gave the stock an “underweight” rating in a research report on Tuesday. Keefe, Bruyette & Woods decreased their price target on shares of Cathay General Bancorp from $46.00 to $41.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 23rd. Truist Financial upped their target price on Cathay General Bancorp from $38.00 to $45.00 and gave the company a “hold” rating in a research report on Wednesday. Wedbush lifted their price target on Cathay General Bancorp from $44.00 to $50.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, StockNews.com raised Cathay General Bancorp from a “sell” rating to a “hold” rating in a report on Friday, July 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Cathay General Bancorp presently has an average rating of “Hold” and an average price target of $43.00.

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.