Wall Street analysts expect Cathay General Bancorp (NASDAQ:CATY) to report earnings per share of $0.85 for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Cathay General Bancorp’s earnings, with the highest EPS estimate at $0.88 and the lowest estimate at $0.82. Cathay General Bancorp posted earnings of $0.92 per share for the same quarter last year, indicating a negative growth rate of 7.6% year over year. The company is expected to release its next quarterly earnings report on Monday, April 25th.
According to Zacks, analysts expect Cathay General Bancorp to report full-year earnings per share for the current fiscal year of $3.77, with EPS estimates ranging from $3.68 to $3.90. For the next fiscal year, analysts expect the company to report earnings of $4.31 per share, with EPS estimates ranging from $4.03 to $4.70. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts covering Cathay General Bancorp.
Cathay General Bancorp (NASDAQ:CATY) last announced its quarterly earnings data on Thursday, January 27th. The bank reported earnings per share (EPS) of $0.99 for the quarter, beating Zacks’ consensus estimate of $0.92 by $0.07. The company had revenue of $175.26 million for the quarter, compared to analysts’ expectations of $166.02 million. Cathay General Bancorp had a net margin of 41.32% and a return on equity of 12.00%. The company’s quarterly revenue increased 15.9% compared to the same quarter last year. In the same period last year, the company reported earnings per share of $0.89.
Separately, Zacks Investment Research upgraded Cathay General Bancorp to a buy rating from a “hold” rating and set a price target of $52.00 for the company in a report Tuesday, January 11.
CATY stock rose $1.96 during Friday trade to hit $44.59. 538,836 shares of the company were traded compared to an average volume of 328,891. The company has a debt to equity ratio of 0.07, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market cap of $3.44 billion, a price-to-earnings ratio of 12.02 and a beta of 1.37. Cathay General Bancorp has a 52-week low of $33.44 and a 52-week high of $46.96. The company has a 50-day simple moving average of $43.95 and a 200-day simple moving average of $41.56.
The company also recently announced a quarterly dividend, which was paid on Thursday, December 9th. A dividend of $0.44 per share was paid to shareholders of record on Monday, November 29th. The ex-dividend date was Friday November 26th. This is an increase from Cathay General Bancorp’s previous quarterly dividend of $0.31. That equates to a dividend of $1.76 on an annualized basis and a dividend yield of 3.95%. Cathay General Bancorp’s payout ratio is currently 36.66%.
Institutional investors recently changed their holdings in the company. Vanguard Group Inc. increased its stake 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 during the period. State Street Corp increased its holding in Cathay General Bancorp by 6.9% in the second quarter. State Street Corp now owns 3,727,585 shares of the bank worth $146,718,000 after purchasing an additional 241,094 shares last quarter. Dimensional Fund Advisors LP increased its holding in Cathay General Bancorp by 0.4% during the third 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 last quarter. Massachusetts Financial Services Co. MA increased its stake in Cathay General Bancorp by 3.9% in the third 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 last quarter. Finally, FMR LLC increased its stake in Cathay General Bancorp by 19.6% during the second quarter. FMR LLC now owns 1,549,096 shares of the bank valued at $60,972,000 after purchasing an additional 253,749 shares last quarter. Institutional investors and hedge funds own 68.52% of the company’s shares.
About Cathay General Bancorp
Cathay General Bancorp is a holding company that provides financial services. It provides commercial mortgages, commercial loans, small business management loans, residential mortgages, real estate construction loans, home equity lines of credit and personal installment loans for automobiles, households and other consumer spending.
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