Cathay General Bancorp (NASDAQ:CATY) Shares Sold by LSV Asset Management

LSV Asset Management cut its holdings in shares of Cathay General Bancorp (NASDAQ:CATY - Free Report) by 3.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 815,793 shares of the bank's stock after selling 30,600 shares during the quarter. LSV Asset Management owned 1.15% of Cathay General Bancorp worth $38,840,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nomura Asset Management Co. Ltd. lifted its stake in shares of Cathay General Bancorp by 63.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 850 shares of the bank's stock valued at $40,000 after purchasing an additional 330 shares during the period. Bank of Montreal Can grew its position in shares of Cathay General Bancorp by 4.1% during the 4th quarter. Bank of Montreal Can now owns 9,961 shares of the bank's stock valued at $474,000 after acquiring an additional 394 shares during the period. GAMMA Investing LLC increased its stake in shares of Cathay General Bancorp by 42.9% in the 4th quarter. GAMMA Investing LLC now owns 2,188 shares of the bank's stock valued at $104,000 after purchasing an additional 657 shares in the last quarter. Sanctuary Advisors LLC boosted its position in Cathay General Bancorp by 4.2% during the fourth quarter. Sanctuary Advisors LLC now owns 21,599 shares of the bank's stock worth $1,024,000 after purchasing an additional 871 shares in the last quarter. Finally, Physician Wealth Advisors Inc. acquired a new stake in Cathay General Bancorp in the fourth quarter valued at approximately $55,000. 75.01% of the stock is currently owned by institutional investors and hedge funds.

Cathay General Bancorp Price Performance

CATY traded up $0.24 on Thursday, reaching $38.58. 208,770 shares of the company's stock were exchanged, compared to its average volume of 426,674. Cathay General Bancorp has a twelve month low of $33.88 and a twelve month high of $55.29. The stock has a market cap of $2.71 billion, a PE ratio of 9.75 and a beta of 0.99. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.03 and a quick ratio of 1.03. The stock's fifty day moving average price is $43.23 and its 200-day moving average price is $46.32.

Cathay General Bancorp (NASDAQ:CATY - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The bank reported $1.12 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts expect that Cathay General Bancorp will post 4.47 EPS for the current year.

Cathay General Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Thursday, February 27th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date was Thursday, February 27th. Cathay General Bancorp's dividend payout ratio is currently 34.34%.

Analysts Set New Price Targets

Several brokerages recently commented on CATY. Piper Sandler cut their price target on shares of Cathay General Bancorp from $45.00 to $43.00 and set an "underweight" rating for the company in a report on Monday, January 27th. Keefe, Bruyette & Woods cut 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, 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. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Cathay General Bancorp has an average rating of "Hold" and an average target price of $50.80.

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.