LSV Asset Management Has $46.95 Million Stock Position in Cathay General Bancorp (NASDAQ:CATY)

LSV Asset Management reduced its position in Cathay General Bancorp (NASDAQ:CATY - Free Report) by 7.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,053,340 shares of the bank's stock after selling 90,500 shares during the quarter. LSV Asset Management owned approximately 1.45% of Cathay General Bancorp worth $46,947,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CATY. Prime Capital Investment Advisors LLC boosted its holdings in shares of Cathay General Bancorp by 4.1% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 6,302 shares of the bank's stock valued at $281,000 after acquiring an additional 247 shares during the period. Arizona State Retirement System increased its stake in shares of Cathay General Bancorp by 1.6% in the third quarter. Arizona State Retirement System now owns 19,620 shares of the bank's stock valued at $682,000 after purchasing an additional 304 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Cathay General Bancorp by 16.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,559 shares of the bank's stock valued at $124,000 after buying an additional 491 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of Cathay General Bancorp by 2.6% during the third quarter. Oregon Public Employees Retirement Fund now owns 21,478 shares of the bank's stock worth $747,000 after buying an additional 550 shares during the period. Finally, Pathstone Family Office LLC grew its holdings in Cathay General Bancorp by 4.2% in the 3rd quarter. Pathstone Family Office LLC now owns 17,103 shares of the bank's stock worth $594,000 after buying an additional 692 shares in the last quarter. Institutional investors own 75.01% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Truist Financial cut their price objective on shares of Cathay General Bancorp from $40.00 to $38.00 and set a "hold" rating on the stock in a research note on Thursday, April 25th. StockNews.com cut shares of Cathay General Bancorp from a "hold" rating to a "sell" rating in a report on Saturday, April 6th. Wedbush reiterated an "outperform" rating and set a $44.00 price target on shares of Cathay General Bancorp in a research report on Tuesday, April 23rd. Finally, Keefe, Bruyette & Woods cut their price objective on Cathay General Bancorp from $46.00 to $41.00 and set a "market perform" rating for the company in a report on Tuesday, April 23rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $39.00.

Cathay General Bancorp Trading Up 1.9 %

NASDAQ CATY traded up $0.67 on Friday, hitting $36.45. 287,905 shares of the company were exchanged, compared to its average volume of 378,407. Cathay General Bancorp has a twelve month low of $27.24 and a twelve month high of $45.72. The company's 50 day moving average price is $37.17 and its 200-day moving average price is $38.82. The firm has a market capitalization of $2.65 billion, a P/E ratio of 8.06 and a beta of 1.12. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.04 and a quick ratio of 1.03.

Cathay General Bancorp (NASDAQ:CATY - Get Free Report) last issued its quarterly earnings results on Monday, April 22nd. The bank reported $0.98 EPS 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 during the quarter, compared to analysts' expectations of $188.85 million. During the same quarter last year, the company posted $1.32 EPS. Analysts predict that Cathay General Bancorp will post 3.93 earnings per share for the current fiscal year.

Cathay General Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Wednesday, February 28th were issued a dividend of $0.34 per share. The ex-dividend date was Tuesday, February 27th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.73%. Cathay General Bancorp's dividend payout ratio is 30.09%.

About Cathay General Bancorp

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.