FY2025 EPS Estimates for Cathay General Bancorp (NASDAQ:CATY) Increased by Analyst

Cathay General Bancorp (NASDAQ:CATY) – Investment analysts at DA Davidson lifted their FY2025 earnings estimates for Cathay General Bancorp in a report issued on Tuesday, April 23rd. DA Davidson analyst G. Tenner now forecasts that the bank will post earnings of $4.49 per share for the year, up from their previous estimate of $4.46. The consensus estimate for Cathay General Bancorp’s current full-year earnings is $3.92 per share.

A number of other research firms have also recently weighed in on CATY. Wedbush reiterated an “outperform” rating and set a $44.00 price objective on shares of Cathay General Bancorp in a research report on Tuesday. Keefe, Bruyette & Woods cut their price objective on shares of Cathay General Bancorp from $46.00 to $41.00 and set a “market perform” rating on the stock in a research report on Tuesday. Truist Financial cut their price objective on shares of Cathay General Bancorp from $40.00 to $38.00 and set a “hold” rating on the stock in a research report on Thursday. Finally, StockNews.com cut shares of Cathay General Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, April 6th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $39.00.

Cathay General Bancorp Trading Down 1.6 %

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

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

Cathay General Bancorp Announces Dividend

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

Insider Transactions at Cathay General Bancorp

In other news, Vice Chairman Anthony M. Tang sold 7,000 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $43.45, for a total value of $304,150.00. Following the transaction, the insider now directly owns 204,500 shares in the company, valued at $8,885,525. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 4.76% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Cathay General Bancorp by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 8,254,816 shares of the bank’s stock worth $367,917,000 after purchasing an additional 196,146 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Cathay General Bancorp by 4.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,850,356 shares of the bank’s stock worth $171,613,000 after acquiring an additional 150,331 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Cathay General Bancorp by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,053,405 shares of the bank’s stock worth $91,520,000 after acquiring an additional 25,421 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Cathay General Bancorp by 4.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,654,350 shares of the bank’s stock worth $57,505,000 after acquiring an additional 75,749 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in Cathay General Bancorp by 8.8% in the third quarter. Principal Financial Group Inc. now owns 1,540,402 shares of the bank’s stock worth $53,543,000 after acquiring an additional 124,851 shares during the period. 75.01% of the stock is currently owned by institutional investors.

About Cathay General Bancorp

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.