Cathay General Bancorp (NASDAQ:CATY) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its stake in shares of Cathay General Bancorp (NASDAQ:CATY - Free Report) by 3.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,758,777 shares of the bank's stock after purchasing an additional 87,847 shares during the quarter. Charles Schwab Investment Management Inc. owned about 3.82% of Cathay General Bancorp worth $118,489,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CATY. Quarry LP boosted its holdings in shares of Cathay General Bancorp by 76.3% in the 2nd quarter. Quarry LP now owns 765 shares of the bank's stock valued at $29,000 after buying an additional 331 shares in the last quarter. Quest Partners LLC acquired a new stake in Cathay General Bancorp in the second quarter valued at approximately $40,000. CWM LLC grew its holdings in Cathay General Bancorp by 168.6% in the second quarter. CWM LLC now owns 1,265 shares of the bank's stock worth $48,000 after purchasing an additional 794 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Cathay General Bancorp by 24.9% during the third quarter. GAMMA Investing LLC now owns 1,531 shares of the bank's stock worth $66,000 after purchasing an additional 305 shares in the last quarter. Finally, Bessemer Group Inc. increased its position in shares of Cathay General Bancorp by 16.6% during the first quarter. Bessemer Group Inc. now owns 3,675 shares of the bank's stock worth $139,000 after purchasing an additional 523 shares in the last quarter. Hedge funds and other institutional investors own 75.01% of the company's stock.

Cathay General Bancorp Stock Performance

Shares of NASDAQ CATY traded down $0.93 during mid-day trading on Tuesday, hitting $52.92. The stock had a trading volume of 243,268 shares, compared to its average volume of 325,550. The firm has a market cap of $3.77 billion, a PE ratio of 13.33 and a beta of 1.10. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.03 and a current ratio of 1.03. The company has a 50 day moving average of $46.30 and a two-hundred day moving average of $41.99. Cathay General Bancorp has a twelve month low of $33.88 and a twelve month high of $55.29.

Cathay General Bancorp (NASDAQ:CATY - Get Free Report) last announced its quarterly earnings data on Monday, October 21st. The bank reported $0.94 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.01). Cathay General Bancorp had a net margin of 20.57% and a return on equity of 11.30%. The business had revenue of $359.86 million for the quarter, compared to analyst estimates of $182.70 million. During the same quarter in the previous year, the firm posted $1.13 earnings per share. Research analysts predict that Cathay General Bancorp will post 3.99 EPS for the current fiscal year.

Cathay General Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Wednesday, November 27th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date is Wednesday, November 27th. Cathay General Bancorp's dividend payout ratio (DPR) is presently 34.26%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CATY shares. Wedbush boosted their target price on Cathay General Bancorp from $50.00 to $52.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 23rd. Truist Financial boosted their price target on Cathay General Bancorp from $45.00 to $47.00 and gave the stock a "hold" rating in a research note on Friday, September 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $44.00.

Insider Activity at Cathay General Bancorp

In related news, Vice Chairman Peter Wu sold 7,289 shares of the firm's stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $47.05, for a total value of $342,947.45. Following the transaction, the insider now directly owns 347,963 shares of the company's stock, valued at approximately $16,371,659.15. This trade represents a 2.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Thomas M. Lo sold 900 shares of the business's stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $47.00, for a total value of $42,300.00. Following the sale, the executive vice president now owns 3,359 shares of the company's stock, valued at approximately $157,873. This trade represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 48,189 shares of company stock worth $2,500,047 in the last 90 days. Corporate insiders own 4.76% of the company's stock.

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.