Equity research analysts expect Cathay General Bancorp (NASDAQ: CATY) to report earnings of $ 0.93 per share for the current quarter, Zack reports. Three analysts provided earnings estimates for Cathay General Bancorp, with the highest EPS estimate being $ 0.94 and the lowest estimate being $ 0.91. Cathay General Bancorp posted earnings per share of $ 0.89 in the same quarter last year, which would suggest a positive year-over-year growth rate of 4.5%. The company is expected to release its next quarterly earnings report on Wednesday, January 26.
According to Zacks, analysts expect Cathay General Bancorp to report annual earnings of $ 3.75 per share for the current fiscal year, with EPS estimates ranging from $ 3.74 to $ 3.76. For next year, analysts predict the company will report earnings of $ 3.76 per share, with EPS estimates ranging from $ 3.68 to $ 3.85. Zacks Investment Research earnings per share averages are an average based on a survey of research analysts who cover Cathay General Bancorp.
Cathay General Bancorp (NASDAQ: CATY) last reported its results on Sunday, October 24. The bank reported EPS of $ 0.93 for the quarter, beating analyst consensus estimates of $ 0.91 by $ 0.02. Cathay General Bancorp recorded a return on equity of 12.00% and a net margin of 41.32%. The company posted revenue of $ 164.70 million for the quarter, against analysts’ expectations of $ 164.30 million. In the same quarter of the previous year, the company achieved EPS of $ 0.71. Cathay General Bancorp quarterly revenue increased 2.6% year-on-year.
Several research analysts commented on the company. Zacks investment research downgraded Cathay General Bancorp from a “buy” rating to a “conservation” rating in a research report released Wednesday, October 27. Truist Securities raised its price target on Cathay General Bancorp from $ 40.00 to $ 44.00 and assigned a “hold” rating to the stock in a research note on Monday, August 30. Finally, Truist raised its price target on Cathay General Bancorp from $ 40.00 to $ 44.00 and assigned a “hold” rating to the stock in a research note on Monday, August 30. Five investment analysts rated the stock with a conservation rating. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $ 45.
In other news from Cathay General Bancorp, EVP Kim R. Bingham sold 3,000 shares of the company in a trade on Friday, October 29. The stock was sold for an average price of $ 42.68, for a total value of $ 128,040.00. The transaction has been disclosed in a legal file with the SEC, which can be accessed via this link. 4.23% of the shares are currently held by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of CATY. Vanguard Group Inc. increased its position in Cathay General Bancorp by 2.5% in the second quarter. Vanguard Group Inc. now owns 7,396,002 shares of the bank valued at $ 291,107,000 after purchasing an additional 177,449 shares in the last quarter. State Street Corp strengthened its position in Cathay General Bancorp by 6.9% during the 2nd quarter. State Street Corp now owns 3,727,585 shares of the bank valued at $ 146,718,000 after purchasing an additional 241,094 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Cathay General Bancorp by 0.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,902,943 shares of the bank valued at $ 120,155,000 after purchasing an additional 12,524 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Cathay General Bancorp by 3.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,098,896 shares of the bank valued at $ 86,873,000 after purchasing an additional 78,453 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in Cathay General Bancorp by 2.3% during the second quarter. Principal Financial Group Inc. now owns 1,708,887 shares of the bank valued at $ 67,261,000 after purchasing an additional 38,696 shares in the last quarter. 68.71% of the shares are currently held by institutional investors.
Actions of CATY traded at $ 1.26 during trading hours on Friday, reaching $ 41.65. The stock had a trading volume of 1,465,549 shares, compared to its average volume of 337,821. The company has a leverage ratio of 0.07, a quick ratio of 1.04, and a current ratio of 1. , 04. The company has a market cap of $ 3.22 billion, a P / E ratio of 11.23 and a beta of 1.38. The company’s fifty-day simple moving average is $ 43.24 and its 200-day simple moving average is $ 40.85. Cathay General Bancorp has a 12 month low of $ 30.25 and a 12 month high of $ 46.42.
The company also recently announced a quarterly dividend, which was paid on Thursday, December 9. Investors of record on Monday, November 29, received a dividend of $ 0.44 per share. This is an increase from Cathay General Bancorp’s previous quarterly dividend of $ 0.31. The ex-dividend date was Friday, November 26. This represents an annualized dividend of $ 1.76 and a return of 4.23%. Cathay General Bancorp’s payout ratio is currently 36.66%.
About Cathay General Bancorp
Cathay General Bancorp is a holding company which provides financial services. It offers commercial mortgages, commercial loans, small business administration loans, residential mortgages, real estate construction loans, home equity lines of credit and personal installment loans for expenses. automobiles, housework and other consumer expenses.
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