Victory Capital Management Inc. Sells 6,107 Shares of Cathay General Bancorp (NASDAQ:CATY)

Victory Capital Management Inc. reduced its position in Cathay General Bancorp (NASDAQ:CATY - Free Report) by 9.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 56,132 shares of the bank's stock after selling 6,107 shares during the period. Victory Capital Management Inc. owned about 0.08% of Cathay General Bancorp worth $2,672,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its position in Cathay General Bancorp by 3.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,861,501 shares of the bank's stock worth $136,236,000 after purchasing an additional 102,724 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Cathay General Bancorp by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,713,650 shares of the bank's stock worth $73,615,000 after buying an additional 20,840 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Cathay General Bancorp by 821.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 381,764 shares of the bank's stock worth $18,176,000 after buying an additional 340,329 shares during the period. Principal Financial Group Inc. grew its stake in Cathay General Bancorp by 1.5% in the 4th quarter. Principal Financial Group Inc. now owns 345,597 shares of the bank's stock valued at $16,454,000 after buying an additional 5,114 shares during the last quarter. Finally, Stieven Capital Advisors L.P. raised its holdings in Cathay General Bancorp by 2.2% in the 4th quarter. Stieven Capital Advisors L.P. now owns 262,004 shares of the bank's stock valued at $12,474,000 after acquiring an additional 5,600 shares during the period. Institutional investors own 75.01% of the company's stock.

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Cathay General Bancorp Price Performance

NASDAQ:CATY traded down $0.94 during trading hours on Thursday, reaching $43.13. 144,580 shares of the company were exchanged, compared to its average volume of 314,447. The business has a 50 day moving average of $46.24 and a 200 day moving average of $46.70. Cathay General Bancorp has a 1-year low of $33.88 and a 1-year high of $55.29. 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 company has a market capitalization of $3.03 billion, a P/E ratio of 10.94 and a beta of 1.09.

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 the consensus estimate of $1.10 by $0.02. Cathay General Bancorp had a return on equity of 10.70% and a net margin of 20.57%. Research analysts forecast that Cathay General Bancorp will post 4.47 EPS for the current year.

Cathay General Bancorp Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 3.15%. The ex-dividend date was Thursday, February 27th. Cathay General Bancorp's payout ratio is presently 34.34%.

Analyst Ratings Changes

CATY has been the topic of a number of recent research reports. Stephens lowered their target price 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. Keefe, Bruyette & Woods lowered their price objective on Cathay General Bancorp from $56.00 to $55.00 and set a "market perform" rating on the stock in a research report on Thursday, January 23rd. Finally, Piper Sandler dropped their target price on Cathay General Bancorp from $45.00 to $43.00 and set an "underweight" rating for the company in a report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Cathay General Bancorp presently has a consensus rating of "Hold" and an average 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.