Schroder Investment Management Group lowered its position in Cathay General Bancorp (NASDAQ:CATY) by 32.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,500 shares of the bank’s stock after selling 7,800 shares during the period. Schroder Investment Management Group’s holdings in Cathay General Bancorp were worth $628,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in shares of Cathay General Bancorp during the fourth quarter worth $28,608,000. Prudential Financial Inc. raised its position in shares of Cathay General Bancorp by 60.1% in the first quarter. Prudential Financial Inc. now owns 963,409 shares of the bank’s stock worth $36,301,000 after buying an additional 361,550 shares in the last quarter. Hillcrest Asset Management LLC acquired a new position in shares of Cathay General Bancorp during the first quarter worth $7,960,000. Ameriprise Financial Inc. raised its position in shares of Cathay General Bancorp by 26.9% in the first quarter. Ameriprise Financial Inc. now owns 881,437 shares of the bank’s stock worth $33,212,000 after buying an additional 187,006 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Cathay General Bancorp by 3.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,045,245 shares of the bank’s stock worth $153,841,000 after buying an additional 120,017 shares in the last quarter. 68.15% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Cathay General Bancorp (NASDAQ:CATY)

Cathay General Bancorp (CATY) opened at 38.78 on Friday. The firm’s 50 day moving average price is $37.62 and its 200-day moving average price is $37.72. Cathay General Bancorp has a 52 week low of $26.27 and a 52 week high of $40.83. The stock has a market cap of $3.10 billion, a price-to-earnings ratio of 17.39 and a beta of 1.25.

Cathay General Bancorp (NASDAQ:CATY) last posted its quarterly earnings data on Wednesday, April 19th. The bank reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. Cathay General Bancorp had a net margin of 32.94% and a return on equity of 9.83%. The firm had revenue of $118.83 million during the quarter, compared to analyst estimates of $119.30 million. During the same quarter last year, the business posted $0.57 EPS. Analysts expect that Cathay General Bancorp will post $2.40 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 12th. Investors of record on Thursday, June 1st were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date was Tuesday, May 30th. Cathay General Bancorp’s dividend payout ratio is 37.67%.

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CATY has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods set a $36.00 price target on Cathay General Bancorp and gave the stock a “hold” rating in a research note on Monday, April 3rd. Piper Jaffray Companies reduced their price target on Cathay General Bancorp from $43.00 to $42.00 and set an “overweight” rating on the stock in a research note on Monday, April 17th. Zacks Investment Research lowered Cathay General Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, April 24th. Finally, BidaskClub raised Cathay General Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Cathay General Bancorp has a consensus rating of “Buy” and a consensus price target of $37.75.

In related news, Vice Chairman Anthony M. Tang sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $38.01, for a total value of $1,900,500.00. Following the completion of the transaction, the insider now owns 301,400 shares of the company’s stock, valued at approximately $11,456,214. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.76% of the company’s stock.

About Cathay General Bancorp

Cathay General Bancorp is a bank holding company. The Company holds Cathay Bank, a California state-chartered commercial bank (the Bank); seven limited partnerships investing in affordable housing investments; GBC Venture Capital, Inc, and Asia Realty Corp. The Company also owns the common stock of five statutory business trusts created for issuing capital securities.

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