Mitsubishi UFJ Trust & Banking Corp Has $944,000 Stake in Cathay General Bancorp (NASDAQ:CATY)

Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Cathay General Bancorp (NASDAQ:CATY) by 11.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,818 shares of the bank’s stock after purchasing an additional 2,089 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Cathay General Bancorp were worth $944,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of CATY. TIAA Trust National Association acquired a new stake in Cathay General Bancorp during the 4th quarter worth approximately $204,000. Advantage Alpha Capital Partners LP increased its position in shares of Cathay General Bancorp by 12.9% during the fourth quarter. Advantage Alpha Capital Partners LP now owns 13,520 shares of the bank’s stock worth $644,000 after acquiring an additional 1,544 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Cathay General Bancorp during the fourth quarter worth $676,000. Sei Investments Co. lifted its position in Cathay General Bancorp by 31.2% in the 4th quarter. Sei Investments Co. now owns 14,674 shares of the bank’s stock valued at $699,000 after acquiring an additional 3,490 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in Cathay General Bancorp by 5.2% in the 4th quarter. American Century Companies Inc. now owns 1,471,066 shares of the bank’s stock worth $70,037,000 after purchasing an additional 72,532 shares during the period. Institutional investors and hedge funds own 75.01% of the company’s stock.

Cathay General Bancorp Price Performance

Shares of NASDAQ CATY opened at $42.82 on Wednesday. The firm has a market cap of $3.01 billion, a P/E ratio of 10.81 and a beta of 1.09. The business’s 50 day moving average is $45.48 and its 200-day moving average is $46.79. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.07. Cathay General Bancorp has a 1-year low of $33.88 and a 1-year high of $55.29.

Cathay General Bancorp (NASDAQ:CATY) last issued its quarterly earnings data on Wednesday, January 22nd. The bank reported $1.12 earnings per share 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%. Equities research analysts predict that Cathay General Bancorp will post 4.47 earnings per share for the current year.

Cathay General Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Thursday, February 27th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 3.18%. The ex-dividend date was Thursday, February 27th. Cathay General Bancorp’s payout ratio is presently 34.34%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Keefe, Bruyette & Woods dropped their price target on Cathay General Bancorp from $56.00 to $55.00 and set a “market perform” rating on the stock in a research note on Thursday, January 23rd. Piper Sandler cut their target price on Cathay General Bancorp from $45.00 to $43.00 and set an “underweight” rating on the stock in a research note on Monday, January 27th. Finally, Stephens cut their price objective on shares of Cathay General Bancorp from $60.00 to $57.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Cathay General Bancorp presently has an average rating of “Hold” and an average target price of $50.80.

About Cathay General Bancorp

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.