Cathay General Bancorp (NASDAQ:CATY – Get Free Report) will be posting its quarterly earnings results after the market closes on Monday, October 21st. Analysts expect Cathay General Bancorp to post earnings of $0.98 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.
Cathay General Bancorp (NASDAQ:CATY – Get Free Report) last released its quarterly earnings results on Monday, July 22nd. The bank reported $0.92 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.02). Cathay General Bancorp had a net margin of 22.08% and a return on equity of 11.96%. The business had revenue of $178.53 million during the quarter, compared to analyst estimates of $179.19 million. During the same quarter in the prior year, the company earned $1.28 earnings per share. The firm’s revenue for the quarter was down 12.8% compared to the same quarter last year. 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 Up 3.4 %
Shares of NASDAQ CATY opened at $44.06 on Monday. Cathay General Bancorp has a 1 year low of $32.08 and a 1 year high of $45.88. The firm’s 50 day moving average price is $42.40 and its 200 day moving average price is $39.25. The firm has a market cap of $3.21 billion, a P/E ratio of 9.75 and a beta of 1.11. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.03 and a current ratio of 1.03.
Cathay General Bancorp Dividend Announcement
Analyst Ratings Changes
A number of analysts recently issued reports on CATY shares. Truist Financial raised their target price on shares of Cathay General Bancorp from $45.00 to $47.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. Wedbush increased their price target on shares of Cathay General Bancorp from $44.00 to $50.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. StockNews.com raised shares of Cathay General Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, July 19th. Finally, Piper Sandler increased their price target on shares of Cathay General Bancorp from $32.00 to $36.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, Cathay General Bancorp has a consensus rating of “Hold” and an average target price of $43.50.
Check Out Our Latest Stock Analysis on CATY
Insider Activity
In other news, Chairman Dunson K. Cheng sold 12,401 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $44.79, for a total value of $555,440.79. Following the transaction, the chairman now owns 149,566 shares of the company’s stock, valued at approximately $6,699,061.14. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Kim R. Bingham sold 6,000 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $44.89, for a total transaction of $269,340.00. Following the completion of the sale, the executive vice president now directly owns 45,530 shares of the company’s stock, valued at approximately $2,043,841.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Dunson K. Cheng sold 12,401 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $44.79, for a total transaction of $555,440.79. Following the sale, the chairman now directly owns 149,566 shares of the company’s stock, valued at approximately $6,699,061.14. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,401 shares of company stock valued at $1,728,581. Company insiders own 4.76% of the company’s stock.
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.
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