Charles Schwab Investment Management Inc. Raises Holdings in Cathay General Bancorp (NASDAQ:CATY)

Charles Schwab Investment Management Inc. lifted its stake in shares of Cathay General Bancorp (NASDAQ:CATY - Free Report) by 3.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,861,501 shares of the bank's stock after purchasing an additional 102,724 shares during the period. Charles Schwab Investment Management Inc. owned 4.02% of Cathay General Bancorp worth $136,236,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of CATY. CWA Asset Management Group LLC bought a new stake in Cathay General Bancorp in the 3rd quarter valued at about $671,000. Aigen Investment Management LP raised its position in shares of Cathay General Bancorp by 11.7% in the third quarter. Aigen Investment Management LP now owns 6,108 shares of the bank's stock valued at $262,000 after purchasing an additional 639 shares during the period. CIBC Asset Management Inc purchased a new stake in shares of Cathay General Bancorp during the 3rd quarter valued at approximately $201,000. Royce & Associates LP boosted its holdings in Cathay General Bancorp by 25.4% in the 3rd quarter. Royce & Associates LP now owns 49,420 shares of the bank's stock worth $2,123,000 after buying an additional 10,022 shares during the period. Finally, Natixis Advisors LLC purchased a new position in Cathay General Bancorp in the 3rd quarter valued at approximately $512,000. Institutional investors own 75.01% of the company's stock.

Cathay General Bancorp Price Performance

Shares of NASDAQ CATY traded down $0.87 during midday trading on Tuesday, hitting $42.52. 426,016 shares of the company's stock were exchanged, compared to its average volume of 321,864. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.07. The business's fifty day moving average price is $46.81 and its two-hundred day moving average price is $46.76. The company has a market cap of $2.99 billion, a price-to-earnings ratio of 10.74 and a beta of 1.09. Cathay General Bancorp has a 12-month low of $33.88 and a 12-month high of $55.29.

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Cathay General Bancorp (NASDAQ:CATY - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The bank reported $1.12 EPS for the quarter, topping analysts' consensus estimates of $1.10 by $0.02. Cathay General Bancorp had a net margin of 20.57% and a return on equity of 10.70%. As a group, research analysts forecast that Cathay General Bancorp will post 4.47 EPS for the current fiscal year.

Cathay General Bancorp Dividend Announcement

The company also recently declared 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 of this dividend was Thursday, February 27th. This represents a $1.36 dividend on an annualized basis and a yield of 3.20%. Cathay General Bancorp's payout ratio is 34.34%.

Wall Street Analysts Forecast Growth

CATY has been the topic of several recent research reports. Stephens dropped 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. Piper Sandler decreased their price objective on 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. Finally, Keefe, Bruyette & Woods cut their target price on 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $50.80.

Cathay General Bancorp Company 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.