Cathay General Bancorp (NASDAQ:CATY) Shares Sold by Boston Trust Walden Corp

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

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Assenagon Asset Management S.A. increased its position in shares of Cathay General Bancorp by 821.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 381,764 shares of the bank’s stock valued at $18,176,000 after acquiring an additional 340,329 shares during the last quarter. Foundry Partners LLC purchased a new stake in Cathay General Bancorp in the third quarter valued at approximately $7,493,000. Pure Portfolios Holdings LLC acquired a new position in Cathay General Bancorp during the third quarter worth $6,271,000. Charles Schwab Investment Management Inc. boosted its position in shares of Cathay General Bancorp by 3.3% during 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 period. Finally, Barclays PLC grew its stake in shares of Cathay General Bancorp by 104.3% in the third quarter. Barclays PLC now owns 145,690 shares of the bank’s stock valued at $6,257,000 after buying an additional 74,394 shares in the last quarter. 75.01% of the stock is currently owned by hedge funds and other institutional investors.

Cathay General Bancorp Stock Down 2.0 %

Shares of Cathay General Bancorp stock opened at $46.56 on Tuesday. Cathay General Bancorp has a 52-week low of $33.88 and a 52-week high of $55.29. The company has a 50 day moving average of $48.76 and a 200 day moving average of $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 company has a market capitalization of $3.32 billion, a P/E ratio of 11.76 and a beta of 1.12.

Cathay General Bancorp (NASDAQ:CATY) last issued its earnings results 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, research analysts forecast that Cathay General Bancorp will post 4.33 EPS for the current fiscal year.

Cathay General Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Wednesday, November 27th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend was Wednesday, November 27th. Cathay General Bancorp’s dividend payout ratio (DPR) is presently 34.34%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Stephens lowered their target price on Cathay General Bancorp from $60.00 to $57.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Wedbush lifted their price objective on shares of Cathay General Bancorp from $50.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods reduced their target price on shares of Cathay General Bancorp from $56.00 to $55.00 and set a “market perform” rating on the stock in a report on Thursday, January 23rd. Finally, Piper Sandler dropped their price target on shares of 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. 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. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $50.80.

Insider Buying and Selling

In related news, Vice Chairman Peter Wu sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $52.87, for a total transaction of $2,114,800.00. Following the transaction, the insider now owns 295,252 shares in the company, valued at $15,609,973.24. This trade represents a 11.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 4.76% of the stock is owned by company insiders.

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.