Dimensional Fund Advisors LP Has $158.21 Million Holdings in Cathay General Bancorp (NASDAQ:CATY)

Dimensional Fund Advisors LP increased its holdings in shares of Cathay General Bancorp (NASDAQ:CATY) by 4.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,194,232 shares of the bank’s stock after buying an additional 176,215 shares during the quarter. Dimensional Fund Advisors LP owned 5.76% of Cathay General Bancorp worth $158,206,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Quest Partners LLC acquired a new stake in Cathay General Bancorp during the 2nd quarter worth $40,000. CWM LLC raised its stake in Cathay General Bancorp by 168.6% during the 2nd quarter. CWM LLC now owns 1,265 shares of the bank’s stock worth $48,000 after buying an additional 794 shares during the period. Bessemer Group Inc. raised its stake in Cathay General Bancorp by 16.6% during the 1st quarter. Bessemer Group Inc. now owns 3,675 shares of the bank’s stock worth $139,000 after buying an additional 523 shares during the period. Headlands Technologies LLC raised its stake in Cathay General Bancorp by 12,039.0% during the 1st quarter. Headlands Technologies LLC now owns 4,977 shares of the bank’s stock worth $188,000 after buying an additional 4,936 shares during the period. Finally, TFO Wealth Partners LLC raised its stake in Cathay General Bancorp by 22,160.0% during the 4th quarter. TFO Wealth Partners LLC now owns 4,452 shares of the bank’s stock worth $198,000 after buying an additional 4,432 shares during the period. Institutional investors and hedge funds own 75.01% of the company’s stock.

Insider Activity

In related news, Chairman Dunson K. Cheng sold 12,401 shares of Cathay General Bancorp stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $44.79, for a total transaction of $555,440.79. Following the completion of the transaction, the chairman now owns 149,566 shares in the company, valued at $6,699,061.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman Dunson K. Cheng sold 12,401 shares of Cathay General Bancorp stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $44.79, for a total transaction of $555,440.79. Following the completion of the transaction, the chairman now owns 149,566 shares in the company, valued at $6,699,061.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kim R. Bingham sold 6,000 shares of Cathay General Bancorp stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $44.89, for a total value of $269,340.00. Following the transaction, the executive vice president now owns 45,530 shares of the company’s stock, valued at approximately $2,043,841.70. The disclosure for this sale can be found here. Insiders sold 38,401 shares of company stock worth $1,728,581 in the last quarter. Corporate insiders own 4.76% of the company’s stock.

Cathay General Bancorp Price Performance

Shares of NASDAQ CATY opened at $43.38 on Friday. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of 9.67 and a beta of 1.11. The business has a 50-day moving average of $42.50 and a 200-day moving average of $38.82. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.03 and a quick ratio of 1.03. Cathay General Bancorp has a fifty-two week low of $32.08 and a fifty-two week high of $45.88.

Cathay General Bancorp (NASDAQ:CATY) last announced its quarterly earnings data on Monday, July 22nd. The bank reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.02). The company had revenue of $178.53 million during the quarter, compared to the consensus estimate of $179.19 million. Cathay General Bancorp had a net margin of 22.08% and a return on equity of 11.96%. Cathay General Bancorp’s revenue was down 12.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.28 EPS. As a group, sell-side analysts predict that Cathay General Bancorp will post 4.05 earnings per share for the current fiscal year.

Cathay General Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Thursday, August 29th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 3.14%. The ex-dividend date was Thursday, August 29th. Cathay General Bancorp’s payout ratio is 30.09%.

Analyst Ratings Changes

Several analysts have issued reports on the company. StockNews.com raised Cathay General Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, July 19th. Truist Financial lifted their price target on Cathay General Bancorp from $45.00 to $47.00 and gave the company a “hold” rating in a research note on Friday. Wedbush lifted their price target on Cathay General Bancorp from $44.00 to $50.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Finally, Piper Sandler lifted their price target on Cathay General Bancorp from $32.00 to $36.00 and gave the company an “underweight” rating in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $43.50.

Cathay General Bancorp 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.