Cathay General Bancorp (CATY) Set to Announce Earnings on Monday

Cathay General Bancorp (NASDAQ:CATY) will post its quarterly earnings results after the market closes on Monday, October 21st. Analysts expect Cathay General Bancorp to post earnings of $0.98 per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

Cathay General Bancorp (NASDAQ:CATY) last announced its quarterly earnings results on Monday, July 22nd. The bank reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.02). Cathay General Bancorp had a net margin of 22.08% and a return on equity of 11.96%. The company had revenue of $178.53 million for the quarter, compared to analysts’ expectations of $179.19 million. During the same quarter in the prior year, the business posted $1.28 earnings per share. The firm’s revenue was down 12.8% compared to the same quarter last year. On average, analysts expect Cathay General Bancorp to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Cathay General Bancorp Trading Down 1.2 %

Cathay General Bancorp stock opened at $46.04 on Friday. The firm has a market cap of $3.35 billion, a PE ratio of 10.19 and a beta of 1.11. Cathay General Bancorp has a 12 month low of $32.08 and a 12 month high of $46.70. The stock’s 50 day simple moving average is $42.95 and its two-hundred day simple moving average is $39.51. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.11.

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 paid a $0.34 dividend. The ex-dividend date was Thursday, August 29th. This represents a $1.36 dividend on an annualized basis and a yield of 2.95%. Cathay General Bancorp’s dividend payout ratio is currently 30.09%.

Analyst Ratings Changes

Several equities research analysts have commented on CATY shares. Truist Financial boosted their price objective on Cathay General Bancorp from $45.00 to $47.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Wedbush raised their price objective on Cathay General Bancorp from $44.00 to $50.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Piper Sandler upped their target price on shares of Cathay General Bancorp from $32.00 to $36.00 and gave the stock an “underweight” rating in a report on Tuesday, July 23rd. Finally, StockNews.com upgraded shares of Cathay General Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Cathay General Bancorp presently has an average rating of “Hold” and a consensus target price of $43.50.

Insider Buying and Selling

In other Cathay General Bancorp news, Chairman Dunson K. Cheng sold 12,401 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $44.79, for a total value of $555,440.79. Following the completion of the sale, the chairman now directly owns 149,566 shares of the company’s stock, valued at $6,699,061.14. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Vice Chairman Peter Wu sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $45.19, for a total value of $903,800.00. Following the transaction, the insider now directly owns 355,252 shares in the company, valued at approximately $16,053,837.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Dunson K. Cheng sold 12,401 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $44.79, for a total value of $555,440.79. Following the sale, the chairman now directly owns 149,566 shares of the company’s stock, valued at approximately $6,699,061.14. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,401 shares of company stock worth $1,728,581. 4.76% of the stock is owned by corporate insiders.

Cathay General Bancorp Company Profile

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.