Dimensional Fund Advisors LP Increases Holdings in Cathay General Bancorp (NASDAQ:CATY)

Dimensional Fund Advisors LP lifted its position in shares of Cathay General Bancorp (NASDAQ:CATY - Free Report) by 0.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,230,722 shares of the bank's stock after purchasing an additional 12,684 shares during the quarter. Dimensional Fund Advisors LP owned about 5.94% of Cathay General Bancorp worth $201,426,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Cathay General Bancorp by 3.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,861,501 shares of the bank's stock valued at $136,236,000 after buying an additional 102,724 shares in the last quarter. Invesco Ltd. lifted its position in Cathay General Bancorp by 6.0% during the 4th quarter. Invesco Ltd. now owns 1,519,442 shares of the bank's stock valued at $72,341,000 after acquiring an additional 85,963 shares during the period. American Century Companies Inc. lifted its position in Cathay General Bancorp by 5.2% during the 4th quarter. American Century Companies Inc. now owns 1,471,066 shares of the bank's stock valued at $70,037,000 after acquiring an additional 72,532 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Cathay General Bancorp by 2.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,116,419 shares of the bank's stock worth $53,153,000 after acquiring an additional 31,472 shares in the last quarter. Finally, Norges Bank purchased a new stake in Cathay General Bancorp in the fourth quarter worth about $36,231,000. 75.01% of the stock is owned by hedge funds and other institutional investors.

Cathay General Bancorp Stock Down 1.4 %

CATY stock traded down $0.60 during midday trading on Monday, hitting $41.59. The company's stock had a trading volume of 46,931 shares, compared to its average volume of 351,974. The firm's 50-day moving average is $42.39 and its 200-day moving average is $46.30. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.07. Cathay General Bancorp has a 12 month low of $34.42 and a 12 month high of $55.29. The company has a market cap of $2.91 billion, a PE ratio of 10.52 and a beta of 0.99.

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

Cathay General Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Thursday, February 27th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date of this dividend was Thursday, February 27th. Cathay General Bancorp's payout ratio is presently 34.34%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Piper Sandler lowered their target price on shares of Cathay General Bancorp from $45.00 to $43.00 and set an "underweight" rating for the company in a report on Monday, January 27th. Stephens reissued an "overweight" rating and issued a $51.00 target price on shares of Cathay General Bancorp in a report on Tuesday, April 22nd. Finally, Keefe, Bruyette & Woods reduced their price target on Cathay General Bancorp from $56.00 to $55.00 and set a "market perform" rating for the company in a report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $49.60.

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.