American Century Companies Inc. Has $70.04 Million Holdings in Cathay General Bancorp (NASDAQ:CATY)

American Century Companies Inc. boosted its stake in shares of Cathay General Bancorp (NASDAQ:CATY) by 5.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,471,066 shares of the bank’s stock after acquiring an additional 72,532 shares during the period. American Century Companies Inc. owned 2.07% of Cathay General Bancorp worth $70,037,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of CATY. Venturi Wealth Management LLC bought a new stake in Cathay General Bancorp during the fourth quarter worth about $82,000. Smartleaf Asset Management LLC boosted its position in shares of Cathay General Bancorp by 189.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,794 shares of the bank’s stock worth $86,000 after acquiring an additional 1,175 shares in the last quarter. GAMMA Investing LLC increased its stake in 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 acquiring an additional 657 shares during the last quarter. KBC Group NV lifted its stake in Cathay General Bancorp by 68.5% during the fourth quarter. KBC Group NV now owns 3,730 shares of the bank’s stock worth $178,000 after purchasing an additional 1,517 shares during the last quarter. Finally, Xponance Inc. acquired a new stake in shares of Cathay General Bancorp in the 4th quarter valued at $239,000. 75.01% of the stock is currently owned by institutional investors.

Cathay General Bancorp Stock Down 0.6 %

Shares of NASDAQ CATY opened at $43.98 on Wednesday. Cathay General Bancorp has a 12-month low of $33.88 and a 12-month high of $55.29. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.07. The firm has a market cap of $3.09 billion, a PE ratio of 11.11 and a beta of 1.09. The company’s fifty day simple moving average is $46.00 and its 200 day simple moving average is $46.74.

Cathay General Bancorp (NASDAQ:CATY) last issued its earnings results on Wednesday, January 22nd. The bank reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.02. Cathay General Bancorp had a return on equity of 10.70% and a net margin of 20.57%. As a group, sell-side analysts forecast that Cathay General Bancorp will post 4.47 earnings per share for the current fiscal year.

Cathay General Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Thursday, February 27th were issued a $0.34 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.09%. Cathay General Bancorp’s dividend payout ratio is presently 34.34%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Stephens dropped their price objective on Cathay General Bancorp from $60.00 to $57.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods dropped their target price on shares of Cathay General Bancorp from $56.00 to $55.00 and set a “market perform” rating for the company in a report on Thursday, January 23rd. Finally, Piper Sandler decreased 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 investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target 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.