Cathay General Bancorp (CATY) to Release Earnings on Monday

Cathay General Bancorp (NASDAQ:CATY) is set to release its earnings data after the market closes on Monday, April 22nd. Analysts expect Cathay General Bancorp to post earnings of $1.02 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 issued its earnings results on Wednesday, January 24th. The bank reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.15. The business had revenue of $205.24 million for the quarter, compared to analysts’ expectations of $197.95 million. Cathay General Bancorp had a return on equity of 13.89% and a net margin of 27.02%. 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 Stock Performance

Shares of NASDAQ CATY opened at $36.00 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $2.62 billion, a price-to-earnings ratio of 7.41 and a beta of 1.12. The stock’s fifty day simple moving average is $38.06 and its 200 day simple moving average is $38.75. Cathay General Bancorp has a 52-week low of $27.24 and a 52-week high of $45.72.

Cathay General Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Wednesday, February 28th were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.78%. Cathay General Bancorp’s dividend payout ratio is 27.98%.

Insider Buying and Selling at Cathay General Bancorp

In other Cathay General Bancorp news, Vice Chairman Anthony M. Tang sold 7,000 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $43.45, for a total value of $304,150.00. Following the transaction, the insider now owns 204,500 shares in the company, valued at $8,885,525. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Covestor Ltd lifted its position in shares of Cathay General Bancorp by 73.5% in the first quarter. Covestor Ltd now owns 1,157 shares of the bank’s stock worth $52,000 after buying an additional 490 shares during the last quarter. Lazard Asset Management LLC lifted its position in shares of Cathay General Bancorp by 41.4% in the fourth quarter. Lazard Asset Management LLC now owns 1,277 shares of the bank’s stock worth $52,000 after buying an additional 374 shares during the last quarter. KBC Group NV acquired a new stake in shares of Cathay General Bancorp in the fourth quarter worth about $53,000. Point72 Hong Kong Ltd acquired a new stake in shares of Cathay General Bancorp in the second quarter worth about $54,000. Finally, State of Wyoming lifted its position in shares of Cathay General Bancorp by 31.7% in the fourth quarter. State of Wyoming now owns 1,321 shares of the bank’s stock worth $54,000 after buying an additional 318 shares during the last quarter. Hedge funds and other institutional investors own 75.01% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CATY. StockNews.com downgraded Cathay General Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, April 6th. Truist Financial lowered their price target on Cathay General Bancorp from $46.00 to $40.00 and set a “hold” rating on the stock in a report on Monday, April 1st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $38.20.

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.