Boston Trust Walden Corp Sells 46,485 Shares of Cathay General Bancorp (NASDAQ:CATY)

Boston Trust Walden Corp reduced its holdings in shares of Cathay General Bancorp (NASDAQ:CATY - Free Report) by 6.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 690,242 shares of the bank's stock after selling 46,485 shares during the period. Boston Trust Walden Corp owned about 0.95% of Cathay General Bancorp worth $29,646,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CATY. American Century Companies Inc. lifted its holdings in shares of Cathay General Bancorp by 19.8% during the second quarter. American Century Companies Inc. now owns 1,262,970 shares of the bank's stock valued at $47,639,000 after acquiring an additional 208,599 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Cathay General Bancorp by 4.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,194,232 shares of the bank's stock worth $158,206,000 after purchasing an additional 176,215 shares in the last quarter. Pure Portfolios Holdings LLC bought a new position in Cathay General Bancorp during the 3rd quarter valued at about $6,271,000. Assenagon Asset Management S.A. acquired a new position in Cathay General Bancorp in the second quarter valued at about $2,752,000. Finally, Algert Global LLC bought a new stake in Cathay General Bancorp during the second quarter worth about $2,338,000. Institutional investors own 75.01% of the company's stock.

Insider Buying and Selling at Cathay General Bancorp

In other news, Chairman Dunson K. Cheng sold 12,401 shares of the firm's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $44.79, for a total value of $555,440.79. Following the transaction, the chairman now directly owns 149,566 shares in the company, valued at $6,699,061.14. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.76% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Piper Sandler lifted their target price on shares of Cathay General Bancorp from $32.00 to $36.00 and gave the company an "underweight" rating in a research note on Tuesday, July 23rd. StockNews.com upgraded Cathay General Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, July 19th. Truist Financial increased their target price on Cathay General Bancorp from $45.00 to $47.00 and gave the stock a "hold" rating in a report on Friday, September 20th. Finally, Wedbush lifted their price target on Cathay General Bancorp from $50.00 to $52.00 and gave the company an "outperform" rating in a report on Wednesday. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $44.00.

Cathay General Bancorp Trading Down 1.6 %

Shares of CATY stock traded down $0.73 on Friday, reaching $44.83. 255,405 shares of the stock were exchanged, compared to its average volume of 327,488. The stock has a 50 day moving average price of $43.33 and a 200 day moving average price of $39.86. The stock has a market cap of $3.26 billion, a PE ratio of 9.92 and a beta of 1.11. Cathay General Bancorp has a one year low of $32.83 and a one year high of $46.70. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.03 and a quick ratio of 1.03.

Cathay General Bancorp (NASDAQ:CATY - Get Free Report) last released its earnings results on Monday, October 21st. The bank reported $0.94 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.95 by ($0.01). Cathay General Bancorp had a net margin of 22.08% and a return on equity of 11.96%. 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 company posted $1.13 earnings per share. Equities research analysts forecast that Cathay General Bancorp will post 4.02 EPS for the current fiscal year.

Cathay General Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Thursday, August 29th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date was Thursday, August 29th. Cathay General Bancorp's dividend payout ratio is presently 30.09%.

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.