Cathay General Bancorp (NASDAQ:CATY – Get Rating) is scheduled to be releasing its earnings data after the market closes on Thursday, April 20th. Analysts expect Cathay General Bancorp to post earnings of $1.29 per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.
Cathay General Bancorp (NASDAQ:CATY – Get Rating) last issued its quarterly earnings data on Wednesday, January 25th. The bank reported $1.33 EPS for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.06). The company had revenue of $213.90 million for the quarter, compared to the consensus estimate of $217.67 million. Cathay General Bancorp had a return on equity of 14.80% and a net margin of 39.71%. The firm’s revenue was up 22.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.98 EPS. On average, analysts expect Cathay General Bancorp to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.
Cathay General Bancorp Stock Performance
Shares of NASDAQ:CATY opened at $32.72 on Thursday. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of 6.75 and a beta of 1.14. The firm’s 50 day simple moving average is $39.44 and its 200 day simple moving average is $41.63. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.05 and a quick ratio of 1.05. Cathay General Bancorp has a fifty-two week low of $32.63 and a fifty-two week high of $47.30.
Cathay General Bancorp Dividend Announcement
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on CATY. Truist Financial dropped their target price on Cathay General Bancorp from $46.00 to $39.00 and set a “hold” rating for the company in a report on Thursday, March 23rd. Stephens boosted their price target on Cathay General Bancorp from $43.00 to $44.00 in a report on Thursday, January 26th. Keefe, Bruyette & Woods lowered their price target on shares of Cathay General Bancorp from $50.00 to $40.00 and set a “market perform” rating for the company in a report on Thursday, April 6th. StockNews.com assumed coverage on shares of Cathay General Bancorp in a research report on Thursday, March 16th. They issued a “hold” rating for the company. Finally, Piper Sandler cut their price objective on shares of Cathay General Bancorp from $47.00 to $46.00 and set a “neutral” rating on the stock in a report on Thursday, January 26th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $43.20.
Insider Activity at Cathay General Bancorp
In other news, Vice Chairman Anthony M. Tang sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, February 7th. The shares were sold at an average price of $45.20, for a total value of $226,000.00. Following the completion of the sale, the insider now owns 208,964 shares in the company, valued at approximately $9,445,172.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 4.30% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Covestor Ltd raised its stake in shares of Cathay General Bancorp by 73.5% in the 1st quarter. Covestor Ltd now owns 1,157 shares of the bank’s stock valued at $52,000 after acquiring an additional 490 shares during the period. Lazard Asset Management LLC grew its holdings in Cathay General Bancorp by 41.4% in the fourth quarter. Lazard Asset Management LLC now owns 1,277 shares of the bank’s stock valued at $52,000 after purchasing an additional 374 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Cathay General Bancorp during the second quarter valued at $54,000. State of Wyoming boosted its stake in Cathay General Bancorp by 31.7% in the 4th quarter. State of Wyoming now owns 1,321 shares of the bank’s stock worth $54,000 after buying an additional 318 shares during the last quarter. Finally, Quantbot Technologies LP raised its holdings in shares of Cathay General Bancorp by 2,569.6% in the 2nd quarter. Quantbot Technologies LP now owns 2,723 shares of the bank’s stock worth $106,000 after purchasing an additional 2,621 shares during the period. Hedge funds and other institutional investors own 67.15% of the company’s stock.
Cathay General Bancorp Company Profile
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.
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