Charles Schwab Investment Management Inc. Purchases 25,421 Shares of Cathay General Bancorp (NASDAQ:CATY)

Charles Schwab Investment Management Inc. grew its holdings in Cathay General Bancorp (NASDAQ:CATY - Free Report) by 1.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,053,405 shares of the bank's stock after buying an additional 25,421 shares during the quarter. Charles Schwab Investment Management Inc. owned 2.83% of Cathay General Bancorp worth $91,520,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Cathay General Bancorp by 10.3% in the 3rd quarter. Vanguard Group Inc. now owns 8,058,670 shares of the bank's stock worth $280,119,000 after purchasing an additional 749,370 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Cathay General Bancorp by 4.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,654,350 shares of the bank's stock worth $57,505,000 after purchasing an additional 75,749 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Cathay General Bancorp by 8.8% in the 3rd quarter. Principal Financial Group Inc. now owns 1,540,402 shares of the bank's stock worth $53,543,000 after purchasing an additional 124,851 shares during the last quarter. Boston Trust Walden Corp grew its holdings in shares of Cathay General Bancorp by 0.3% in the 4th quarter. Boston Trust Walden Corp now owns 970,537 shares of the bank's stock worth $43,257,000 after purchasing an additional 3,385 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in Cathay General Bancorp by 12.7% during the 3rd quarter. American Century Companies Inc. now owns 738,787 shares of the bank's stock worth $25,680,000 after acquiring an additional 83,370 shares during the last quarter. Institutional investors and hedge funds own 75.01% of the company's stock.

Analyst Upgrades and Downgrades

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

Cathay General Bancorp Trading Down 1.0 %

Shares of NASDAQ:CATY traded down $0.37 during mid-day trading on Monday, reaching $37.29. The stock had a trading volume of 165,669 shares, compared to its average volume of 351,614. The firm has a market cap of $2.72 billion, a PE ratio of 8.25 and a beta of 1.12. The firm has a 50 day simple moving average of $36.97 and a two-hundred day simple moving average of $39.01. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 0.14. Cathay General Bancorp has a twelve month low of $28.16 and a twelve month high of $45.72.

Cathay General Bancorp (NASDAQ:CATY - Get Free Report) last announced its quarterly earnings results on Monday, April 22nd. The bank reported $0.98 earnings per share for the quarter, missing analysts' consensus estimates of $1.02 by ($0.04). The firm had revenue of $339.25 million during the quarter, compared to analyst estimates of $188.85 million. Cathay General Bancorp had a net margin of 24.41% and a return on equity of 13.02%. During the same quarter in the prior year, the business earned $1.32 earnings per share. On average, research analysts predict that Cathay General Bancorp will post 3.94 EPS for the current fiscal year.

Cathay General Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Wednesday, February 28th were given a $0.34 dividend. The ex-dividend date was Tuesday, February 27th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.65%. 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.