LSV Asset Management Decreases Holdings in Cathay General Bancorp (NASDAQ:CATY)

LSV Asset Management decreased its position in Cathay General Bancorp (NASDAQ:CATY) by 7.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,053,340 shares of the bank’s stock after selling 90,500 shares during the quarter. LSV Asset Management owned 1.45% of Cathay General Bancorp worth $46,947,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC purchased a new stake in Cathay General Bancorp during the fourth quarter valued at about $51,000. Mitsubishi UFJ Trust & Banking Corp bought a new position in Cathay General Bancorp during the 3rd quarter worth approximately $109,000. Allspring Global Investments Holdings LLC grew its position in Cathay General Bancorp by 16.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,559 shares of the bank’s stock worth $124,000 after acquiring an additional 491 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in Cathay General Bancorp by 545.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 4,260 shares of the bank’s stock worth $148,000 after purchasing an additional 3,600 shares during the period. Finally, Prime Capital Investment Advisors LLC bought a new stake in Cathay General Bancorp in the third quarter valued at approximately $210,000. Hedge funds and other institutional investors own 75.01% of the company’s stock.

Wall Street Analysts Forecast Growth

CATY has been the topic of several analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $44.00 target price on shares of Cathay General Bancorp in a research note on Tuesday, April 23rd. Keefe, Bruyette & Woods decreased their price objective on shares of Cathay General Bancorp from $46.00 to $41.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 23rd. Truist Financial dropped their target price on shares of Cathay General Bancorp from $40.00 to $38.00 and set a “hold” rating for the company in a report on Thursday, April 25th. Finally, StockNews.com downgraded Cathay General Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, April 6th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $39.00.

Cathay General Bancorp Trading Up 1.9 %

Shares of CATY traded up $0.67 during trading hours on Friday, reaching $36.45. 287,905 shares of the company traded hands, compared to its average volume of 378,407. Cathay General Bancorp has a 12 month low of $27.24 and a 12 month high of $45.72. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 0.14. The company’s fifty day moving average price is $37.17 and its two-hundred day moving average price is $38.82. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of 8.06 and a beta of 1.12.

Cathay General Bancorp (NASDAQ:CATY) last posted its quarterly earnings data on Monday, April 22nd. The bank reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.04). Cathay General Bancorp had a net margin of 24.41% and a return on equity of 13.02%. The firm had revenue of $339.25 million for the quarter, compared to the consensus estimate of $188.85 million. During the same period in the previous year, the firm posted $1.32 earnings per share. Equities research analysts predict that Cathay General Bancorp will post 3.93 earnings per share for the current fiscal year.

Cathay General Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Wednesday, February 28th were issued a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $1.36 dividend on an annualized basis and a yield of 3.73%. Cathay General Bancorp’s dividend payout ratio (DPR) is 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.