Cathay General Bancorp (CATY) Scheduled to Post Quarterly Earnings on Monday

Cathay General Bancorp (NASDAQ:CATY – Get Free Report) will be issuing its quarterly earnings data after the market closes on Monday, July 24th. Analysts expect the company to announce earnings of $1.17 per share for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

Cathay General Bancorp (NASDAQ:CATY – Get Free Report) last issued its quarterly earnings results on Thursday, April 20th. The bank reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.03. Cathay General Bancorp had a return on equity of 15.47% and a net margin of 37.58%. The firm had revenue of $299.63 million during the quarter, compared to analyst estimates of $206.73 million. During the same quarter in the previous year, the company posted $0.99 earnings per share. On average, analysts expect Cathay General Bancorp to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

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Cathay General Bancorp Trading Down 2.4 %

Shares of CATY stock opened at $33.50 on Monday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.20. The business has a 50-day moving average price of $31.87 and a two-hundred day moving average price of $36.33. Cathay General Bancorp has a 12-month low of $27.24 and a 12-month high of $47.30. The firm has a market cap of $2.43 billion, a P/E ratio of 6.47 and a beta of 1.15.

Cathay General Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 9th. Shareholders of record on Tuesday, May 30th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date was Friday, May 26th. Cathay General Bancorp’s payout ratio is 26.25%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. VNET Group reiterated a “maintains” rating on shares of Cathay General Bancorp in a report on Thursday, June 29th. Wedbush cut their price target on Cathay General Bancorp from $42.00 to $40.00 and set an “outperform” rating for the company in a research note on Friday, April 21st. 51job reiterated a “maintains” rating on shares of Cathay General Bancorp in a research report on Thursday, June 29th. StockNews.com assumed coverage on shares of Cathay General Bancorp in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Finally, Keefe, Bruyette & Woods decreased 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 research note on Thursday, April 6th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $39.83.

Insider Transactions at Cathay General Bancorp

In related news, Director Richard Sun acquired 6,100 shares of the stock in a transaction dated Tuesday, April 25th. The stock was acquired at an average cost of $35.00 per share, with a total value of $213,500.00. Following the completion of the transaction, the director now owns 17,315 shares in the company, valued at approximately $606,025. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Cathay General Bancorp

Several large investors have recently modified their holdings of the company. Centiva Capital LP purchased a new stake in shares of Cathay General Bancorp during the fourth quarter worth approximately $249,000. Toroso Investments LLC purchased a new stake in shares of Cathay General Bancorp during the first quarter worth approximately $242,000. Gotham Asset Management LLC purchased a new position in Cathay General Bancorp in the first quarter worth $227,000. Mackenzie Financial Corp purchased a new position in Cathay General Bancorp in the fourth quarter worth $215,000. Finally, Profund Advisors LLC purchased a new position in Cathay General Bancorp in the first quarter worth $205,000. 68.29% of the stock is owned by institutional investors and hedge funds.

About Cathay General Bancorp

(Get Free Report)

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.

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