New York State Teachers Retirement System Has $6.01 Million Stake in Cathay General Bancorp (NASDAQ:CATY)

New York State Teachers Retirement System decreased its position in shares of Cathay General Bancorp (NASDAQ:CATY - Free Report) by 4.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 126,260 shares of the bank's stock after selling 5,810 shares during the quarter. New York State Teachers Retirement System owned approximately 0.18% of Cathay General Bancorp worth $6,011,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. CWM LLC lifted its stake in shares of Cathay General Bancorp by 19.9% in the 3rd quarter. CWM LLC now owns 1,517 shares of the bank's stock valued at $65,000 after purchasing an additional 252 shares during the period. Captrust Financial Advisors lifted its stake in shares of Cathay General Bancorp by 1.7% in the 3rd quarter. Captrust Financial Advisors now owns 23,264 shares of the bank's stock valued at $999,000 after purchasing an additional 399 shares during the period. Aigen Investment Management LP lifted its stake in shares of Cathay General Bancorp by 11.7% in the 3rd 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. GAMMA Investing LLC lifted 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 during the period. Finally, Congress Asset Management Co. lifted its stake in shares of Cathay General Bancorp by 1.0% in the 3rd quarter. Congress Asset Management Co. now owns 150,938 shares of the bank's stock valued at $6,483,000 after purchasing an additional 1,457 shares during the period. Institutional investors and hedge funds own 75.01% of the company's stock.

Cathay General Bancorp Stock Down 1.4 %

CATY stock traded down $0.66 during trading hours on Friday, reaching $45.84. 389,141 shares of the stock were exchanged, compared to its average volume of 281,516. The firm's 50-day moving average is $47.41 and its 200-day moving average is $46.36. The company has a market cap of $3.26 billion, a price-to-earnings ratio of 11.58 and a beta of 1.12. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.03 and a quick ratio of 1.03. Cathay General Bancorp has a 12 month low of $33.88 and a 12 month high of $55.29.

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 (EPS) 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, equities research analysts expect that Cathay General Bancorp will post 4.47 earnings per share for the current year.

Cathay General Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Thursday, February 27th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date of this dividend is Thursday, February 27th. Cathay General Bancorp's payout ratio is currently 34.34%.

Analysts Set New Price Targets

CATY has been the topic of a number of analyst reports. Keefe, Bruyette & Woods cut their price target on Cathay General Bancorp from $56.00 to $55.00 and set a "market perform" rating on the stock in a research note on Thursday, January 23rd. Stephens dropped their price objective on 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. Finally, Piper Sandler dropped 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. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Cathay General Bancorp currently has a consensus rating of "Hold" and a consensus price target 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.