Cathay General Bancorp (NASDAQ:CATY) Shares Bought by Foundry Partners LLC

Foundry Partners LLC boosted its stake in shares of Cathay General Bancorp (NASDAQ:CATY - Free Report) by 9.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 191,651 shares of the bank's stock after buying an additional 17,198 shares during the period. Foundry Partners LLC owned approximately 0.27% of Cathay General Bancorp worth $9,125,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Nomura Asset Management Co. Ltd. boosted its stake in Cathay General Bancorp by 63.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 850 shares of the bank's stock worth $40,000 after purchasing an additional 330 shares in the last quarter. Captrust Financial Advisors increased its position in shares of Cathay General Bancorp by 1.7% during the third quarter. Captrust Financial Advisors now owns 23,264 shares of the bank's stock valued at $999,000 after acquiring an additional 399 shares in the last quarter. GAMMA Investing LLC raised its holdings in Cathay General Bancorp by 42.9% in the 4th quarter. GAMMA Investing LLC now owns 2,188 shares of the bank's stock worth $104,000 after acquiring an additional 657 shares during the last quarter. Sanctuary Advisors LLC lifted its position in Cathay General Bancorp by 4.2% in the 4th quarter. Sanctuary Advisors LLC now owns 21,599 shares of the bank's stock valued at $1,024,000 after acquiring an additional 871 shares in the last quarter. Finally, Physician Wealth Advisors Inc. bought a new stake in Cathay General Bancorp during the fourth quarter valued at approximately $55,000. Hedge funds and other institutional investors own 75.01% of the company's stock.

Cathay General Bancorp Trading Down 1.8 %

Cathay General Bancorp stock traded down $0.67 during midday trading on Wednesday, reaching $36.99. The stock had a trading volume of 173,341 shares, compared to its average volume of 345,041. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.07. The firm has a market cap of $2.60 billion, a price-to-earnings ratio of 9.31 and a beta of 0.99. Cathay General Bancorp has a 52-week low of $33.88 and a 52-week high of $55.29. The company has a fifty day moving average of $44.44 and a 200 day moving average of $46.57.

Cathay General Bancorp (NASDAQ:CATY - Get Free Report) last released its earnings results on Wednesday, January 22nd. The bank reported $1.12 earnings per share for the quarter, topping 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%. On average, analysts anticipate that Cathay General Bancorp will post 4.47 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, March 10th. Stockholders of record on Thursday, February 27th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date was Thursday, February 27th. Cathay General Bancorp's payout ratio is currently 34.34%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Piper Sandler lowered their target price on Cathay General Bancorp from $45.00 to $43.00 and set an "underweight" rating on the stock in a research report on Monday, January 27th. Stephens reduced 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 report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Cathay General Bancorp from $56.00 to $55.00 and set a "market perform" rating for the company in a report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $50.80.

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.