What is DA Davidson’s Estimate for CATY Q4 Earnings?

Cathay General Bancorp (NASDAQ:CATY) – Equities research analysts at DA Davidson issued their Q4 2024 earnings per share (EPS) estimates for shares of Cathay General Bancorp in a research note issued to investors on Wednesday, October 23rd. DA Davidson analyst G. Tenner anticipates that the bank will post earnings of $1.17 per share for the quarter. The consensus estimate for Cathay General Bancorp’s current full-year earnings is $4.02 per share.

Several other research firms have also recently commented on CATY. StockNews.com raised shares of Cathay General Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, July 19th. Wedbush lifted their target price on shares of Cathay General Bancorp from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Wednesday. Truist Financial lifted their target price on shares of Cathay General Bancorp from $45.00 to $47.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. Finally, Piper Sandler lifted their target price on shares of Cathay General Bancorp from $32.00 to $36.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $44.00.

Cathay General Bancorp Price Performance

Cathay General Bancorp stock opened at $44.83 on Thursday. Cathay General Bancorp has a 52 week low of $32.83 and a 52 week high of $46.70. The company’s 50 day moving average price is $43.33 and its two-hundred day moving average price is $39.81. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.11. The stock has a market cap of $3.26 billion, a P/E ratio of 9.92 and a beta of 1.11.

Cathay General Bancorp (NASDAQ:CATY) last released its quarterly earnings results on Monday, October 21st. The bank reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). The company had revenue of $359.86 million for the quarter, compared to analyst estimates of $182.70 million. Cathay General Bancorp had a net margin of 22.08% and a return on equity of 11.96%. During the same quarter last year, the firm posted $1.13 EPS.

Cathay General Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Thursday, August 29th were issued a $0.34 dividend. The ex-dividend date was Thursday, August 29th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.03%. Cathay General Bancorp’s dividend payout ratio (DPR) is presently 30.09%.

Insider Buying and Selling

In related news, Chairman Dunson K. Cheng sold 12,401 shares of Cathay General Bancorp stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $44.79, for a total value of $555,440.79. Following the sale, the chairman now owns 149,566 shares of the company’s stock, valued at approximately $6,699,061.14. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.76% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CATY. American Century Companies Inc. grew its stake in Cathay General Bancorp by 19.8% in the 2nd quarter. American Century Companies Inc. now owns 1,262,970 shares of the bank’s stock valued at $47,639,000 after buying an additional 208,599 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Cathay General Bancorp by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 8,254,816 shares of the bank’s stock valued at $367,917,000 after purchasing an additional 196,146 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Cathay General Bancorp by 4.4% in the second quarter. Dimensional Fund Advisors LP now owns 4,194,232 shares of the bank’s stock worth $158,206,000 after buying an additional 176,215 shares in the last quarter. Pure Portfolios Holdings LLC bought a new stake in Cathay General Bancorp during the third quarter valued at $6,271,000. Finally, Assenagon Asset Management S.A. purchased a new position in Cathay General Bancorp during the second quarter worth about $2,752,000. 75.01% of the stock is currently owned by hedge funds and other institutional investors.

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.