Cathay General Bancorp Forecasted to Earn FY2025 Earnings of $4.25 Per Share (NASDAQ:CATY)

Cathay General Bancorp (NASDAQ:CATY) – Wedbush dropped their FY2025 EPS estimates for Cathay General Bancorp in a report released on Tuesday, April 23rd. Wedbush analyst D. Chiaverini now forecasts that the bank will post earnings of $4.25 per share for the year, down from their previous forecast of $4.85. Wedbush currently has a “Outperform” rating and a $44.00 target price on the stock. The consensus estimate for Cathay General Bancorp’s current full-year earnings is $3.92 per share.

A number of other equities research analysts also recently issued reports on the stock. StockNews.com downgraded shares of Cathay General Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, April 6th. Truist Financial reduced their price objective on shares of Cathay General Bancorp from $40.00 to $38.00 and set a “hold” rating for the company in a research report on Thursday. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Cathay General Bancorp from $46.00 to $41.00 and set a “market perform” rating on the stock in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Cathay General Bancorp presently has a consensus rating of “Hold” and a consensus price target of $39.00.

Cathay General Bancorp Trading Down 1.6 %

Shares of CATY stock opened at $34.96 on Thursday. Cathay General Bancorp has a 52-week low of $27.24 and a 52-week high of $45.72. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.04. The company has a 50-day simple moving average of $37.71 and a two-hundred day simple moving average of $38.79. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of 7.73 and a beta of 1.12.

Cathay General Bancorp (NASDAQ:CATY) last issued its quarterly earnings data on Monday, April 22nd. The bank reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.04). Cathay General Bancorp had a return on equity of 13.02% and a net margin of 24.41%. The firm had revenue of $339.25 million during the quarter, compared to the consensus estimate of $188.85 million. During the same period in the previous year, the company posted $1.32 earnings per share.

Hedge Funds Weigh In On Cathay General Bancorp

Institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC bought a new position in shares of Cathay General Bancorp in the 4th quarter worth $51,000. Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of Cathay General Bancorp in the 3rd quarter worth $109,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Cathay General Bancorp by 16.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,559 shares of the bank’s stock worth $124,000 after buying an additional 491 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Cathay General Bancorp by 545.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 4,260 shares of the bank’s stock worth $148,000 after buying an additional 3,600 shares during the last quarter. Finally, TFO Wealth Partners LLC increased its holdings in shares of Cathay General Bancorp by 22,160.0% in the 4th quarter. TFO Wealth Partners LLC now owns 4,452 shares of the bank’s stock worth $198,000 after buying an additional 4,432 shares during the last quarter. Institutional investors own 75.01% of the company’s stock.

Insiders Place Their Bets

In other Cathay General Bancorp news, Vice Chairman Anthony M. Tang sold 7,000 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $43.45, for a total value of $304,150.00. Following the sale, the insider now directly owns 204,500 shares in the company, valued at approximately $8,885,525. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.76% of the company’s stock.

Cathay General Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Wednesday, February 28th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.89%. The ex-dividend date was Tuesday, February 27th. Cathay General Bancorp’s dividend payout ratio is presently 30.09%.

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.