Boston Trust Walden Corp Sells 13,149 Shares of Cathay General Bancorp (NASDAQ:CATY)

Boston Trust Walden Corp reduced its stake in Cathay General Bancorp (NASDAQ:CATY - Free Report) by 1.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 677,093 shares of the bank's stock after selling 13,149 shares during the quarter. Boston Trust Walden Corp owned 0.95% of Cathay General Bancorp worth $32,236,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of CATY. Quarry LP boosted its stake in shares of Cathay General Bancorp by 76.3% during the 2nd quarter. Quarry LP now owns 765 shares of the bank's stock worth $29,000 after buying an additional 331 shares during the last quarter. CWM LLC raised its holdings in shares of Cathay General Bancorp by 19.9% in the 3rd quarter. CWM LLC now owns 1,517 shares of the bank's stock valued at $65,000 after purchasing an additional 252 shares during the period. GAMMA Investing LLC lifted its stake in Cathay General Bancorp by 24.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,531 shares of the bank's stock valued at $66,000 after purchasing an additional 305 shares during the last quarter. KBC Group NV grew its holdings 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 period. Finally, CIBC Asset Management Inc acquired a new position in Cathay General Bancorp during the third quarter worth approximately $201,000. 75.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Keefe, Bruyette & Woods cut their price objective 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 decreased their price target on shares of Cathay General Bancorp from $60.00 to $57.00 and set an "overweight" rating on the stock in a research note on Thursday, January 23rd. Piper Sandler dropped their price objective on shares of Cathay General Bancorp from $45.00 to $43.00 and set an "underweight" rating for the company in a research note on Monday, January 27th. Finally, Wedbush increased their target price on shares of Cathay General Bancorp from $50.00 to $52.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 23rd. 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. According to data from MarketBeat.com, Cathay General Bancorp has a consensus rating of "Hold" and a consensus target price of $50.80.

Cathay General Bancorp Price Performance

Shares of NASDAQ CATY traded down $0.83 during mid-day trading on Friday, reaching $46.77. The company had a trading volume of 377,117 shares, compared to its average volume of 337,897. The firm has a market cap of $3.33 billion, a price-to-earnings ratio of 11.81 and a beta of 1.12. The business's 50-day simple moving average is $48.35 and its 200 day simple moving average is $46.13. Cathay General Bancorp has a one year low of $33.88 and a one year high of $55.29. 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 (NASDAQ:CATY - Get Free Report) last released its earnings results on Wednesday, January 22nd. The bank reported $1.12 EPS for the quarter, beating 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 4.33 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, December 9th. Investors of record on Wednesday, November 27th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 2.91%. The ex-dividend date was Wednesday, November 27th. Cathay General Bancorp's dividend payout ratio (DPR) is 34.34%.

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.