Brandywine Global Investment Management LLC Decreases Holdings in Cathay General Bancorp (NASDAQ:CATY)

Brandywine Global Investment Management LLC lowered its stake in Cathay General Bancorp (NASDAQ:CATY - Free Report) by 4.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 172,257 shares of the bank's stock after selling 8,112 shares during the quarter. Brandywine Global Investment Management LLC owned 0.24% of Cathay General Bancorp worth $8,201,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Cathay General Bancorp by 3.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,861,501 shares of the bank's stock valued at $136,236,000 after purchasing an additional 102,724 shares during the period. Geode Capital Management LLC increased its position in Cathay General Bancorp by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,713,650 shares of the bank's stock valued at $73,615,000 after buying an additional 20,840 shares in the last quarter. American Century Companies Inc. increased its position in Cathay General Bancorp by 5.2% in the 4th quarter. American Century Companies Inc. now owns 1,471,066 shares of the bank's stock valued at $70,037,000 after buying an additional 72,532 shares in the last quarter. Norges Bank acquired a new position in Cathay General Bancorp during the 4th quarter worth approximately $36,231,000. Finally, Assenagon Asset Management S.A. boosted its holdings in Cathay General Bancorp by 821.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 381,764 shares of the bank's stock worth $18,176,000 after acquiring an additional 340,329 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 topic of a number of research reports. Stephens lowered their target price on Cathay General Bancorp from $60.00 to $57.00 and set an "overweight" rating on the stock in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods lowered their price objective on shares of Cathay General Bancorp from $56.00 to $55.00 and set a "market perform" rating on the stock in a report on Thursday, January 23rd. Finally, Piper Sandler dropped their price objective 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 research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $50.80.

Cathay General Bancorp Stock Down 1.3 %

Cathay General Bancorp stock traded down $0.52 during trading on Friday, hitting $38.10. 1,358,708 shares of the company were exchanged, compared to its average volume of 342,904. The company has a market capitalization of $2.68 billion, a P/E ratio of 9.62 and a beta of 0.99. The business's 50 day moving average is $45.02 and its 200 day moving average is $46.70. Cathay General Bancorp has a 52 week low of $33.88 and a 52 week high of $55.29. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.07.

Cathay General Bancorp (NASDAQ:CATY - Get Free Report) last posted its 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%. Analysts predict that Cathay General Bancorp will post 4.47 earnings per share for the current year.

Cathay General Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Thursday, February 27th were given a dividend of $0.34 per share. The ex-dividend date was Thursday, February 27th. This represents a $1.36 annualized dividend and a dividend yield of 3.57%. Cathay General Bancorp's dividend payout ratio is currently 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.