Headlands Technologies LLC Purchases 16,763 Shares of Cathay General Bancorp (NASDAQ:CATY)

Headlands Technologies LLC increased its position in Cathay General Bancorp (NASDAQ:CATY) by 457.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,428 shares of the bank’s stock after purchasing an additional 16,763 shares during the period. Headlands Technologies LLC’s holdings in Cathay General Bancorp were worth $973,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of CATY. Nomura Asset Management Co. Ltd. lifted its stake in shares of Cathay General Bancorp by 63.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 850 shares of the bank’s stock valued at $40,000 after buying an additional 330 shares in the last quarter. Physician Wealth Advisors Inc. bought a new position in Cathay General Bancorp in the 4th quarter valued at about $55,000. Venturi Wealth Management LLC bought a new stake in Cathay General Bancorp during the 4th quarter worth approximately $82,000. Smartleaf Asset Management LLC raised its stake in shares of Cathay General Bancorp by 189.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,794 shares of the bank’s stock worth $86,000 after purchasing an additional 1,175 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Cathay General Bancorp by 42.9% in the fourth quarter. GAMMA Investing LLC now owns 2,188 shares of the bank’s stock valued at $104,000 after purchasing an additional 657 shares in the last quarter. Institutional investors and hedge funds own 75.01% of the company’s stock.

Analyst Upgrades and Downgrades

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

Cathay General Bancorp Stock Performance

NASDAQ CATY opened at $42.89 on Thursday. The company has a market capitalization of $3.01 billion, a PE ratio of 10.83 and a beta of 0.99. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.03 and a current ratio of 1.03. Cathay General Bancorp has a 52-week low of $33.88 and a 52-week high of $55.29. The company has a 50-day simple moving average of $45.36 and a 200 day simple moving average of $46.76.

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

Cathay General Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Thursday, February 27th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.36 annualized dividend and a dividend yield of 3.17%. Cathay General Bancorp’s payout ratio is 34.34%.

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.