DA Davidson Has Negative Outlook of CATY FY2025 Earnings

Cathay General Bancorp (NASDAQ:CATY) – Equities research analysts at DA Davidson decreased their FY2025 earnings estimates for Cathay General Bancorp in a research note issued on Thursday, December 19th. DA Davidson analyst G. Tenner now forecasts that the bank will post earnings per share of $4.33 for the year, down from their previous estimate of $4.35. The consensus estimate for Cathay General Bancorp’s current full-year earnings is $3.99 per share.

Several other equities analysts have also issued reports on the company. Stephens raised Cathay General Bancorp from an “equal weight” rating to an “overweight” rating in a research note on Monday, December 9th. Keefe, Bruyette & Woods lifted their target price on shares of Cathay General Bancorp from $45.00 to $56.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Wedbush increased their price target on shares of Cathay General Bancorp from $50.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Truist Financial boosted their price objective on shares of Cathay General Bancorp from $45.00 to $47.00 and gave the company a “hold” rating in a research report on Friday, September 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $47.75.

Cathay General Bancorp Stock Up 1.0 %

CATY opened at $47.49 on Monday. The company has a market cap of $3.38 billion, a P/E ratio of 11.96 and a beta of 1.12. Cathay General Bancorp has a 12 month low of $33.88 and a 12 month high of $55.29. The business’s 50-day moving average price is $49.37 and its 200-day moving average price is $43.79. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.07.

Cathay General Bancorp (NASDAQ:CATY) last posted its quarterly earnings results on Monday, October 21st. The bank reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.01). Cathay General Bancorp had a return on equity of 11.30% and a net margin of 20.57%. The business had revenue of $359.86 million during the quarter, compared to the consensus estimate of $182.70 million. During the same period in the prior year, the firm earned $1.13 earnings per share.

Cathay General Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Wednesday, November 27th were given a $0.34 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $1.36 annualized dividend and a dividend yield of 2.86%. Cathay General Bancorp’s dividend payout ratio is 34.26%.

Insider Transactions at Cathay General Bancorp

In other news, EVP Thomas M. Lo sold 900 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $47.00, for a total transaction of $42,300.00. Following the sale, the executive vice president now owns 3,359 shares in the company, valued at approximately $157,873. The trade was a 21.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Vice Chairman Peter Wu sold 40,000 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $52.87, for a total transaction of $2,114,800.00. Following the completion of the transaction, the insider now owns 295,252 shares of the company’s stock, valued at approximately $15,609,973.24. The trade was a 11.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,189 shares of company stock valued at $2,500,047. Company insiders own 4.76% of the company’s stock.

Institutional Investors Weigh In On Cathay General Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Louisiana State Employees Retirement System lifted its holdings in shares of Cathay General Bancorp by 1.7% during the second quarter. Louisiana State Employees Retirement System now owns 36,600 shares of the bank’s stock valued at $1,381,000 after purchasing an additional 600 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Cathay General Bancorp by 4.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,954 shares of the bank’s stock worth $602,000 after acquiring an additional 739 shares in the last quarter. IFG Advisory LLC bought a new stake in Cathay General Bancorp in the second quarter worth $384,000. Arizona State Retirement System grew its stake in shares of Cathay General Bancorp by 1.9% in the second quarter. Arizona State Retirement System now owns 19,327 shares of the bank’s stock worth $729,000 after acquiring an additional 360 shares during the last quarter. Finally, Quest Partners LLC bought a new position in shares of Cathay General Bancorp during the second quarter valued at $40,000. Hedge funds and other institutional investors own 75.01% of the company’s stock.

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.