Brokers Set Expectations for Cathay General Bancorp’s Q3 2022 Earnings (NASDAQ:CATY)

Cathay General Bancorp (NASDAQ:CATYGet Rating) – Analysts at DA Davidson issued their Q3 2022 earnings per share estimates for Cathay General Bancorp in a report released on Wednesday, July 27th. DA Davidson analyst G. Tenner anticipates that the bank will post earnings of $1.35 per share for the quarter. The consensus estimate for Cathay General Bancorp’s current full-year earnings is $4.65 per share. DA Davidson also issued estimates for Cathay General Bancorp’s FY2022 earnings at $4.77 EPS.

Cathay General Bancorp (NASDAQ:CATYGet Rating) last posted its quarterly earnings data on Monday, July 25th. The bank reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.01. Cathay General Bancorp had a return on equity of 12.77% and a net margin of 40.69%. During the same period in the prior year, the firm posted $0.97 EPS.

Several other analysts also recently commented on the company. Stephens reduced their price objective on Cathay General Bancorp to $44.00 in a research note on Tuesday. StockNews.com assumed coverage on Cathay General Bancorp in a research note on Thursday, March 31st. They set a “hold” rating for the company. Piper Sandler cut their target price on Cathay General Bancorp to $43.00 in a research note on Monday, July 4th. Finally, Truist Financial dropped their price objective on Cathay General Bancorp from $46.00 to $43.00 in a research note on Wednesday, June 15th.

Cathay General Bancorp Price Performance

Shares of NASDAQ CATY opened at $41.00 on Thursday. The stock’s 50-day moving average is $39.93 and its two-hundred day moving average is $42.94. The company has a market cap of $3.08 billion, a price-to-earnings ratio of 10.02 and a beta of 1.19. Cathay General Bancorp has a 1-year low of $36.69 and a 1-year high of $48.88. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.03 and a quick ratio of 1.03.

Institutional Investors Weigh In On Cathay General Bancorp

Several hedge funds have recently made changes to their positions in CATY. State Street Corp raised its position in Cathay General Bancorp by 9.4% in the first quarter. State Street Corp now owns 3,708,830 shares of the bank’s stock valued at $165,970,000 after purchasing an additional 317,721 shares during the period. Boston Trust Walden Corp grew its stake in Cathay General Bancorp by 28.0% in the second quarter. Boston Trust Walden Corp now owns 851,437 shares of the bank’s stock worth $33,333,000 after purchasing an additional 186,354 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Cathay General Bancorp in the second quarter worth about $5,121,000. Charles Schwab Investment Management Inc. grew its stake in Cathay General Bancorp by 6.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,663,220 shares of the bank’s stock worth $74,430,000 after purchasing an additional 105,614 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in Cathay General Bancorp by 36.4% in the fourth quarter. Bank of America Corp DE now owns 324,343 shares of the bank’s stock worth $13,943,000 after purchasing an additional 86,586 shares in the last quarter. Institutional investors and hedge funds own 69.48% of the company’s stock.

Cathay General Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 6th. Shareholders of record on Friday, May 27th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date was Thursday, May 26th. Cathay General Bancorp’s dividend payout ratio (DPR) is presently 33.33%.

Cathay General Bancorp Company Profile

(Get Rating)

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.

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Earnings History and Estimates for Cathay General Bancorp (NASDAQ:CATY)

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