Dean Investment Associates LLC Boosts Stock Position in Cathay General Bancorp (NASDAQ:CATY)

Dean Investment Associates LLC grew its position in shares of Cathay General Bancorp (NASDAQ:CATY - Free Report) by 28.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 67,261 shares of the bank's stock after purchasing an additional 14,895 shares during the period. Dean Investment Associates LLC owned about 0.09% of Cathay General Bancorp worth $3,202,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Marshall Wace LLP purchased a new stake in Cathay General Bancorp during the fourth quarter valued at about $1,587,000. Iron Gate Global Advisors LLC boosted its holdings in Cathay General Bancorp by 19.1% during the 4th quarter. Iron Gate Global Advisors LLC now owns 31,126 shares of the bank's stock valued at $1,454,000 after acquiring an additional 5,000 shares during the period. Mariner LLC grew its position in Cathay General Bancorp by 20.4% during the 4th quarter. Mariner LLC now owns 6,789 shares of the bank's stock worth $323,000 after acquiring an additional 1,152 shares during the last quarter. Sterling Capital Management LLC grew its position in Cathay General Bancorp by 15.8% during the 4th quarter. Sterling Capital Management LLC now owns 14,717 shares of the bank's stock worth $701,000 after acquiring an additional 2,006 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Cathay General Bancorp in the 4th quarter worth approximately $396,000. 75.01% of the stock is currently owned by hedge funds and other institutional investors.

Cathay General Bancorp Stock Up 7.2 %

CATY traded up $2.79 on Tuesday, hitting $41.39. The company had a trading volume of 291,695 shares, compared to its average volume of 352,757. Cathay General Bancorp has a 52-week low of $33.88 and a 52-week high of $55.29. The stock has a fifty day simple moving average of $42.76 and a 200-day simple moving average of $46.31. 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 firm has a market capitalization of $2.90 billion, a P/E ratio of 10.47 and a beta of 0.99.

Cathay General Bancorp (NASDAQ:CATY - Get Free Report) last released its quarterly earnings results on Monday, April 21st. The bank reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.03. The company had revenue of $187.84 million for the quarter, compared to analyst estimates of $186.17 million. Cathay General Bancorp had a return on equity of 10.70% and a net margin of 20.57%. During the same period in the previous year, the company posted $1.05 earnings per share. As a group, equities analysts expect that Cathay General Bancorp will post 4.47 EPS for the current fiscal year.

Cathay General Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Thursday, February 27th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.36 dividend on an annualized basis and a yield of 3.29%. Cathay General Bancorp's dividend payout ratio (DPR) is currently 34.34%.

Wall Street Analysts Forecast Growth

CATY has been the topic of several analyst reports. Stephens reaffirmed an "overweight" rating and issued a $51.00 target price on shares of Cathay General Bancorp in a research note on Tuesday. Piper Sandler lowered their price objective 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. Finally, Keefe, Bruyette & Woods cut their target price 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $49.60.

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.