Analysts expect Cathay General Bancorp (NASDAQ:CATY – Get a rating) will report earnings of $0.94 per share for the current quarter, according to Zacks Investment Research. Three analysts released earnings estimates for Cathay General Bancorp, with estimates ranging from $0.91 to $0.97. Cathay General Bancorp reported earnings per share of $0.92 in the same quarter last year, suggesting a positive year-over-year growth rate of 2.2%. The company is expected to announce its next quarterly results on Monday, April 25.
On average, analysts expect Cathay General Bancorp to report annual earnings of $4.01 per share for the current year, with EPS estimates ranging from $3.89 to $4.10. For the next fiscal year, analysts expect the company to report earnings of $4.56 per share, with EPS estimates ranging from $4.27 to $5.00. Zacks EPS averages are an average average based on a survey of research companies that cover Cathay General Bancorp.
Cathay General Bancorp (NASDAQ:CATY- Get a rating) last released its quarterly results on Thursday, January 27. The bank reported earnings per share of $0.98 for the quarter, beating the consensus estimate of $0.94 by $0.04. Cathay General Bancorp had a return on equity of 12.15% and a net margin of 41.37%. The company posted revenue of $175.26 million in the quarter, versus a consensus estimate of $166.02 million. In the same quarter of the previous year, the company achieved EPS of $0.89. The company’s quarterly revenue increased by 15.9% compared to the same quarter last year.
Separately, Zacks Investment Research upgraded Cathay General Bancorp from a “hold” rating to a “buy” rating and set a target price of $52.00 for the company in a Tuesday, January 11 research note.
NASDAQ CATY shares opened at $44.99 on Friday. Cathay General Bancorp has a 52-week low of $35.51 and a 52-week high of $48.88. The company has a 50-day simple moving average of $45.99 and a two-hundred-day simple moving average of $43.37. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt ratio of 0.07. The company has a market capitalization of $3.39 billion, a P/E ratio of 11.84 and a beta of 1.26.
The company also recently declared a quarterly dividend, which was paid on Monday, March 7. Shareholders of record on Friday, February 25 received a dividend of $0.34. The ex-dividend date was Thursday, February 24. This represents an annualized dividend of $1.36 and a dividend yield of 3.02%. Cathay General Bancorp’s payout ratio is currently 35.79%.
Major investors have recently increased or reduced their stakes in the company. Lazard Asset Management LLC bought a new position in Cathay General Bancorp during Q4 for a value of approximately $29,000. Covestor Ltd purchased a new stake in shares of Cathay General Bancorp in Q4 for a value of approximately $29,000. O Shaughnessy Asset Management LLC increased its position in Cathay General Bancorp shares by 145.6% in Q3. O Shaughnessy Asset Management LLC now owns 759 shares of the bank worth $31,000 after buying an additional 450 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Cathay General Bancorp in Q4 for a value of around $39,000. Finally, Meeder Asset Management Inc. increased its position in Cathay General Bancorp shares by 780.8% in the third quarter. Meeder Asset Management Inc. now owns 3,585 shares of the bank worth $148,000 after buying 3,178 additional shares in the last quarter. 68.62% of the shares are currently held by hedge funds and other institutional investors.
About Cathay General Bancorp (Get a rating)
Cathay General Bancorp is a holding company that provides financial services. It offers commercial mortgages, commercial loans, small business administration loans, residential mortgages, home construction loans, home equity lines of credit and personal installment loans for the automobile, household and other consumer expenses.
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