Schwab Charles Investment Management Inc. reduced its holdings in shares of Cathay General Bancorp (NASDAQ:CATY) by 2.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 433,267 shares of the bank’s stock after selling 11,436 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.54% of Cathay General Bancorp worth $16,443,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in CATY. BlackRock Inc. lifted its position in shares of Cathay General Bancorp by 17,138.1% during the 1st quarter. BlackRock Inc. now owns 7,956,239 shares of the bank’s stock worth $299,791,000 after buying an additional 7,910,084 shares during the last quarter. State Street Corp lifted its position in shares of Cathay General Bancorp by 7.4% during the 1st quarter. State Street Corp now owns 3,583,537 shares of the bank’s stock worth $135,026,000 after buying an additional 247,885 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Cathay General Bancorp by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 6,978,981 shares of the bank’s stock worth $262,968,000 after buying an additional 182,443 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Cathay General Bancorp by 23.3% during the 1st quarter. Principal Financial Group Inc. now owns 932,911 shares of the bank’s stock worth $35,152,000 after buying an additional 176,336 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Cathay General Bancorp by 20.6% during the 1st quarter. Geode Capital Management LLC now owns 813,211 shares of the bank’s stock worth $30,641,000 after buying an additional 138,632 shares during the last quarter. Institutional investors and hedge funds own 67.78% of the company’s stock.

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Several brokerages recently weighed in on CATY. BidaskClub downgraded Cathay General Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. Piper Jaffray Companies restated a “buy” rating and set a $43.00 price objective on shares of Cathay General Bancorp in a research report on Friday, September 1st. Zacks Investment Research downgraded Cathay General Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. SunTrust Banks, Inc. began coverage on Cathay General Bancorp in a research report on Friday, August 18th. They set a “hold” rating and a $39.00 price objective for the company. Finally, Wedbush restated a “neutral” rating and set a $39.00 price objective on shares of Cathay General Bancorp in a research report on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $40.33.

Shares of Cathay General Bancorp (NASDAQ:CATY) opened at 38.00 on Friday. The company’s 50 day moving average price is $35.96 and its 200 day moving average price is $37.26. The company has a market capitalization of $3.07 billion, a P/E ratio of 15.64 and a beta of 1.29. Cathay General Bancorp has a 12 month low of $28.84 and a 12 month high of $40.83.

Cathay General Bancorp (NASDAQ:CATY) last posted its quarterly earnings data on Wednesday, July 19th. The bank reported $0.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.03. The company had revenue of $123.50 million during the quarter, compared to analyst estimates of $129.10 million. Cathay General Bancorp had a return on equity of 10.54% and a net margin of 35.30%. During the same quarter last year, the company earned $0.44 earnings per share. Analysts expect that Cathay General Bancorp will post $2.44 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Friday, September 1st were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend was Wednesday, August 30th. Cathay General Bancorp’s dividend payout ratio is 34.57%.

Cathay General Bancorp Profile

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.

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

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