Boston Trust Walden Corp Decreases Position in Cathay General Bancorp (NASDAQ:CATY)

Boston Trust Walden Corp trimmed its holdings in shares of Cathay General Bancorp (NASDAQ:CATY) by 1.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 677,093 shares of the bank’s stock after selling 13,149 shares during the quarter. Boston Trust Walden Corp owned 0.95% of Cathay General Bancorp worth $32,236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. FMR LLC increased its holdings in shares of Cathay General Bancorp by 332.3% during the third quarter. FMR LLC now owns 25,313 shares of the bank’s stock valued at $1,087,000 after acquiring an additional 19,458 shares in the last quarter. Geode Capital Management LLC increased its stake in 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 valued at $73,615,000 after purchasing an additional 20,840 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Cathay General Bancorp by 3.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,758,777 shares of the bank’s stock worth $118,489,000 after buying an additional 87,847 shares during the last quarter. Barclays PLC lifted its stake in shares of Cathay General Bancorp by 104.3% during the third quarter. Barclays PLC now owns 145,690 shares of the bank’s stock worth $6,257,000 after buying an additional 74,394 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of Cathay General Bancorp by 6.6% during the third quarter. JPMorgan Chase & Co. now owns 156,125 shares of the bank’s stock valued at $6,706,000 after buying an additional 9,724 shares during the last quarter. 75.01% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Cathay General Bancorp

In related news, Vice Chairman Peter Wu sold 40,000 shares of Cathay General Bancorp stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $52.87, for a total value of $2,114,800.00. Following the sale, the insider now owns 295,252 shares of the company’s stock, valued at approximately $15,609,973.24. This trade represents a 11.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Piper Sandler reduced their target price on Cathay General Bancorp from $45.00 to $43.00 and set an “underweight” rating for the company in a research note on Monday, January 27th. Wedbush raised their price objective on Cathay General Bancorp from $50.00 to $52.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Stephens dropped their target price on Cathay General Bancorp from $60.00 to $57.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Cathay General Bancorp from $56.00 to $55.00 and set a “market perform” rating for the company in a research report on Thursday, January 23rd. One research 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, the company presently has a consensus rating of “Hold” and a consensus target price of $50.80.

Cathay General Bancorp Stock Down 2.0 %

Cathay General Bancorp stock opened at $46.56 on Tuesday. The business’s 50-day moving average price is $48.76 and its 200 day moving average price is $46.05. 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 $3.32 billion, a price-to-earnings ratio of 11.76 and a beta of 1.12. Cathay General Bancorp has a 52 week low of $33.88 and a 52 week high of $55.29.

Cathay General Bancorp (NASDAQ:CATY) last issued its quarterly earnings data on Wednesday, January 22nd. The bank reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.02. Cathay General Bancorp had a net margin of 20.57% and a return on equity of 10.70%. As a group, sell-side analysts anticipate that Cathay General Bancorp will post 4.33 earnings per share for the current year.

Cathay General Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Wednesday, November 27th were given a $0.34 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.92%. Cathay General Bancorp’s dividend payout ratio (DPR) is currently 34.34%.

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.