Cathay General Bancorp (NASDAQ:CATY) Forecasted to Earn FY2025 Earnings of $4.46 Per Share

Cathay General Bancorp (NASDAQ:CATY) – Investment analysts at DA Davidson decreased their FY2025 earnings per share estimates for Cathay General Bancorp in a report issued on Wednesday, April 17th. DA Davidson analyst G. Tenner now forecasts that the bank will earn $4.46 per share for the year, down from their previous estimate of $4.49. The consensus estimate for Cathay General Bancorp’s current full-year earnings is $4.00 per share.

CATY has been the topic of several other research reports. StockNews.com cut Cathay General Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, April 6th. Truist Financial decreased their target price 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 given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $38.20.

Cathay General Bancorp Price Performance

Shares of CATY stock opened at $34.66 on Thursday. The stock’s fifty day moving average is $38.14 and its 200-day moving average is $38.73. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market capitalization of $2.52 billion, a PE ratio of 7.13 and a beta of 1.12. Cathay General Bancorp has a 52 week low of $27.24 and a 52 week high of $45.72.

Cathay General Bancorp (NASDAQ:CATY) last announced its earnings results on Wednesday, January 24th. The bank reported $1.25 EPS for the quarter, topping the consensus estimate of $1.10 by $0.15. The company 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%.

Cathay General Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Wednesday, February 28th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 3.92%. The ex-dividend date was Tuesday, February 27th. Cathay General Bancorp’s dividend payout ratio (DPR) is presently 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 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 of the company’s stock, valued at $8,885,525. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Cathay General Bancorp

Large investors have recently modified their holdings of the business. Covestor Ltd increased its holdings 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 acquiring an additional 490 shares in the last quarter. KBC Group NV bought a new position in shares of Cathay General Bancorp during the fourth quarter worth about $53,000. GAMMA Investing LLC bought a new position in Cathay General Bancorp in the fourth quarter valued at approximately $51,000. Lazard Asset Management LLC grew its stake in Cathay General Bancorp by 41.4% in the fourth quarter. Lazard Asset Management LLC now owns 1,277 shares of the bank’s stock valued at $52,000 after purchasing an additional 374 shares in the last quarter. Finally, State of Wyoming grew its stake in Cathay General Bancorp by 31.7% in the fourth quarter. State of Wyoming now owns 1,321 shares of the bank’s stock valued at $54,000 after purchasing an additional 318 shares in the last quarter. 75.01% of the stock is currently owned by institutional investors.

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.