Cathay General Bancorp (CATY) Scheduled to Post Quarterly Earnings on Monday

Cathay General Bancorp (NASDAQ:CATY) will announce its earnings results after the market closes on Monday, April 22nd. Analysts expect the company to announce earnings of $1.02 per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

Cathay General Bancorp (NASDAQ:CATY) last announced its quarterly earnings results on Wednesday, January 24th. The bank reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.15. Cathay General Bancorp had a net margin of 27.02% and a return on equity of 13.89%. The business had revenue of $205.24 million during the quarter, compared to analysts’ expectations of $197.95 million. 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 Price Performance

Shares of CATY opened at $35.24 on Monday. Cathay General Bancorp has a 1-year low of $27.24 and a 1-year high of $45.72. The stock has a market cap of $2.56 billion, a PE ratio of 7.25 and a beta of 1.12. The firm has a 50-day simple moving average of $38.49 and a two-hundred day simple moving average of $38.79. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.05 and a quick ratio of 1.05.

Cathay General Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Wednesday, February 28th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 3.86%. The ex-dividend date was Tuesday, February 27th. Cathay General Bancorp’s payout ratio is 27.98%.

Insider Buying and Selling

In related news, Vice Chairman Anthony M. Tang sold 7,000 shares of Cathay General Bancorp 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 completion of the transaction, the insider now owns 204,500 shares in the company, valued at $8,885,525. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CATY. Norges Bank acquired a new stake in Cathay General Bancorp during the fourth quarter worth approximately $29,968,000. State Street Corp raised its holdings in Cathay General Bancorp by 9.4% during the first quarter. State Street Corp now owns 3,708,830 shares of the bank’s stock worth $165,970,000 after purchasing an additional 317,721 shares in the last quarter. First Trust Advisors LP raised its holdings in Cathay General Bancorp by 155.8% during the first quarter. First Trust Advisors LP now owns 517,235 shares of the bank’s stock worth $17,855,000 after purchasing an additional 315,042 shares in the last quarter. Millennium Management LLC raised its holdings in Cathay General Bancorp by 186.4% during the second quarter. Millennium Management LLC now owns 450,623 shares of the bank’s stock worth $17,642,000 after purchasing an additional 293,265 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in Cathay General Bancorp by 3.1% during the second quarter. BlackRock Inc. now owns 9,016,193 shares of the bank’s stock worth $290,231,000 after purchasing an additional 267,075 shares in the last quarter. Hedge funds and other institutional investors own 75.01% of the company’s stock.

Wall Street Analysts Forecast Growth

CATY has been the subject of several recent research reports. StockNews.com lowered shares of Cathay General Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, April 6th. Truist Financial lowered their price objective on shares of Cathay General Bancorp from $46.00 to $40.00 and set a “hold” rating for the company in a research note on Monday, April 1st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $38.20.

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.