State Board of Administration of Florida Retirement System Has $2.97 Million Holdings in Cathay General Bancorp (NASDAQ:CATY)

State Board of Administration of Florida Retirement System decreased its position in shares of Cathay General Bancorp (NASDAQ:CATY – Get Rating) by 9.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,784 shares of the bank’s stock after selling 7,920 shares during the period. State Board of Administration of Florida Retirement System owned 0.10% of Cathay General Bancorp worth $2,969,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. State Street Corp lifted its position in shares of Cathay General Bancorp by 9.4% during the 1st quarter. State Street Corp now owns 3,708,830 shares of the bank’s stock worth $165,970,000 after purchasing an additional 317,721 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Cathay General Bancorp by 2.9% in the third quarter. Dimensional Fund Advisors LP now owns 3,057,291 shares of the bank’s stock valued at $117,586,000 after acquiring an additional 84,762 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Cathay General Bancorp by 6.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,663,220 shares of the bank’s stock worth $74,430,000 after acquiring an additional 105,614 shares during the last quarter. LSV Asset Management increased its position in Cathay General Bancorp by 7.9% during the third quarter. LSV Asset Management now owns 1,284,518 shares of the bank’s stock worth $49,403,000 after acquiring an additional 94,328 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Cathay General Bancorp by 1.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,141,426 shares of the bank’s stock valued at $43,898,000 after purchasing an additional 17,975 shares during the last quarter. 67.15% of the stock is currently owned by institutional investors.

Cathay General Bancorp Trading Up 0.6 %

Shares of CATY opened at $28.20 on Friday. The stock has a fifty day moving average price of $33.63 and a two-hundred day moving average price of $40.06. The company has a market cap of $2.04 billion, a price-to-earnings ratio of 5.44 and a beta of 1.14. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.05 and a current ratio of 1.04. Cathay General Bancorp has a 52-week low of $27.24 and a 52-week high of $47.30.

Cathay General Bancorp (NASDAQ:CATY – Get Rating) last posted its quarterly earnings data on Thursday, April 20th. The bank reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.03. Cathay General Bancorp had a net margin of 37.58% and a return on equity of 15.47%. The firm had revenue of $299.63 million during the quarter, compared to analysts’ expectations of $206.73 million. During the same quarter in the previous year, the company posted $0.99 EPS. Analysts predict that Cathay General Bancorp will post 4.81 EPS for the current fiscal year.

Cathay General Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 9th. Investors of record on Monday, February 27th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date was Friday, February 24th. Cathay General Bancorp’s dividend payout ratio (DPR) is 26.25%.

Insider Activity at Cathay General Bancorp

In other Cathay General Bancorp news, Director Richard Sun bought 6,100 shares of the stock in a transaction on Tuesday, April 25th. The stock was purchased at an average price of $35.00 per share, with a total value of $213,500.00. Following the acquisition, the director now owns 17,315 shares of the company’s stock, valued at $606,025. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 4.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CATY has been the topic of several research reports. Keefe, Bruyette & Woods dropped their price objective on shares of Cathay General Bancorp from $50.00 to $40.00 and set a “market perform” rating on the stock in a report on Thursday, April 6th. Piper Sandler lowered their price target on Cathay General Bancorp from $35.00 to $34.00 in a research note on Friday, April 21st. Wedbush reduced their price objective on Cathay General Bancorp from $42.00 to $40.00 and set an “outperform” rating for the company in a research report on Friday, April 21st. StockNews.com assumed coverage on shares of Cathay General Bancorp in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Finally, Truist Financial dropped their target price on Cathay General Bancorp from $39.00 to $36.00 in a report on Monday, April 24th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $40.17.

About Cathay General Bancorp

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Cathay General Bancorp is a holding company, which engages in the provision of financial services. It offers commercial mortgage loans, commercial loans, small business administration loans, residential mortgage loans, real estate construction loans, home equity lines of credit, and installment loans to individuals for automobile, household, and other consumer expenditures.