Equities research analysts expect Cathay General Bancorp (NASDAQ:CATY) to announce earnings per share (EPS) of $0.85 for the current quarter, Zacks reports. Four analysts have made estimates for Cathay General Bancorp’s earnings, with the lowest EPS estimate coming in at $0.83 and the highest estimate coming in at $0.88. Cathay General Bancorp posted earnings per share of $0.64 during the same quarter last year, which suggests a positive year over year growth rate of 32.8%. The business is scheduled to announce its next earnings results on Wednesday, October 24th.
On average, analysts expect that Cathay General Bancorp will report full-year earnings of $3.30 per share for the current fiscal year, with EPS estimates ranging from $3.23 to $3.38. For the next year, analysts anticipate that the business will post earnings of $3.49 per share, with EPS estimates ranging from $3.37 to $3.60. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Cathay General Bancorp.
Cathay General Bancorp (NASDAQ:CATY) last announced its quarterly earnings data on Wednesday, July 18th. The bank reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.01. The business had revenue of $147.80 million during the quarter, compared to analysts’ expectations of $147.85 million. Cathay General Bancorp had a return on equity of 11.98% and a net margin of 31.65%. During the same quarter last year, the business posted $0.64 EPS.
Several equities analysts have recently issued reports on CATY shares. Zacks Investment Research upgraded Cathay General Bancorp from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research note on Tuesday, June 19th. BidaskClub cut Cathay General Bancorp from a “sell” rating to a “strong sell” rating in a research note on Friday, July 13th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $47.00 price objective on shares of Cathay General Bancorp in a research note on Friday, July 20th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $47.31.
Shares of CATY remained flat at $$42.29 during midday trading on Monday. The stock had a trading volume of 159,188 shares, compared to its average volume of 245,248. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.33. The stock has a market cap of $3.44 billion, a PE ratio of 17.19, a PEG ratio of 1.60 and a beta of 1.28. Cathay General Bancorp has a fifty-two week low of $34.27 and a fifty-two week high of $45.59.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Tuesday, September 4th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.27%. The ex-dividend date is Friday, August 31st. Cathay General Bancorp’s payout ratio is presently 39.02%.
In other news, Vice Chairman Anthony M. Tang sold 11,510 shares of the firm’s stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $42.50, for a total transaction of $489,175.00. Following the sale, the insider now owns 283,272 shares of the company’s stock, valued at approximately $12,039,060. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lisa L. Kim sold 750 shares of the firm’s stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $42.06, for a total value of $31,545.00. Following the sale, the executive vice president now directly owns 805 shares in the company, valued at approximately $33,858.30. The disclosure for this sale can be found here. Insiders sold a total of 44,330 shares of company stock valued at $1,883,695 in the last quarter. Company insiders own 4.90% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. raised its position in shares of Cathay General Bancorp by 5.0% during the 1st quarter. Principal Financial Group Inc. now owns 1,337,357 shares of the bank’s stock worth $53,468,000 after acquiring an additional 63,636 shares in the last quarter. Boston Advisors LLC increased its position in Cathay General Bancorp by 33.7% during the second quarter. Boston Advisors LLC now owns 154,242 shares of the bank’s stock worth $6,245,000 after buying an additional 38,865 shares during the period. Prudential Financial Inc. increased its position in Cathay General Bancorp by 0.6% during the first quarter. Prudential Financial Inc. now owns 1,015,955 shares of the bank’s stock worth $40,618,000 after buying an additional 6,460 shares during the period. Allianz Asset Management GmbH increased its position in Cathay General Bancorp by 461.1% during the first quarter. Allianz Asset Management GmbH now owns 28,806 shares of the bank’s stock worth $1,152,000 after buying an additional 23,672 shares during the period. Finally, Xact Kapitalforvaltning AB increased its position in Cathay General Bancorp by 26.0% during the second quarter. Xact Kapitalforvaltning AB now owns 13,588 shares of the bank’s stock worth $550,000 after buying an additional 2,800 shares during the period. 70.51% of the stock is currently owned by institutional investors and hedge funds.
About Cathay General Bancorp
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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