Wells Fargo & Company MN Has $2.10 Million Holdings in Cathay General Bancorp (NASDAQ:CATY)
2025-04-26T07:46:52Z
Wells Fargo & Company MN increased its position in Cathay General Bancorp (NASDAQ:CATY – Free Report) by 27.0% in the fourth quarter, HoldingsChannel reports. The firm owned 44,179 shares of the bank’s stock after acquiring an additional 9,403 shares during t…
Wells Fargo & Company MN increased its position in Cathay General Bancorp (NASDAQ:CATY – Free Report) by 27.0% in the fourth quarter, HoldingsChannel reports. The firm owned 44,179 shares of the bank’s stock after acquiring an additional 9,403 shares during the period. Wells Fargo & Company MN’s holdings in Cathay General Bancorp were worth $2,103,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CATY. Nomura Asset Management Co. Ltd. boosted its position 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 worth $40,000 after buying an additional 330 shares during the period. Physician Wealth Advisors Inc. purchased a new stake in Cathay General Bancorp in the 4th quarter worth about $55,000. Venturi Wealth Management LLC purchased a new stake in Cathay General Bancorp in the 4th quarter worth about $82,000. Smartleaf Asset Management LLC boosted its position in 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 during the period. Finally, GAMMA Investing LLC grew its stake in Cathay General Bancorp by 42.9% during the 4th quarter. GAMMA Investing LLC now owns 2,188 shares of the bank’s stock valued at $104,000 after acquiring an additional 657 shares in the last quarter. 75.01% of the stock is currently owned by hedge funds and other institutional investors.
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Wall Street Analysts Forecast Growth
CATY has been the subject of a number of research analyst reports. Stephens reissued an “overweight” rating and issued a $51.00 price target on shares of Cathay General Bancorp in a research report on Tuesday. Keefe, Bruyette & Woods decreased 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 research note on Thursday, January 23rd. Finally, Piper Sandler dropped 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 research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $49.60.
Cathay General Bancorp Stock Performance
CATY stock opened at $42.19 on Friday. The company has a market capitalization of $2.95 billion, a price-to-earnings ratio of 10.65 and a beta of 0.99. The firm has a 50 day moving average of $42.39 and a two-hundred day moving average of $46.25. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.07. Cathay General Bancorp has a 12 month low of $34.42 and a 12 month high of $55.29.
Cathay General Bancorp (NASDAQ:CATY – Get Free Report) last issued its quarterly earnings data on Monday, April 21st. The bank reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.03. Cathay General Bancorp had a net margin of 20.57% and a return on equity of 10.70%. The firm had revenue of $187.84 million during the quarter, compared to analysts’ expectations of $186.17 million. During the same period in the prior year, the company posted $1.05 earnings per share. As a group, equities analysts anticipate that Cathay General Bancorp will post 4.47 EPS for the current fiscal year.
Cathay General Bancorp Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Thursday, February 27th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date was Thursday, February 27th. Cathay General Bancorp’s payout ratio is 34.34%.
Cathay General Bancorp Profile
(Free Report)
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.
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