Cathay General Bancorp (CATY) to Release Quarterly Earnings on Monday

Cathay General Bancorp (NASDAQ:CATY) is set to release its earnings data after the market closes on Monday, October 21st. Analysts expect Cathay General Bancorp to post earnings of $0.98 per share for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

Cathay General Bancorp (NASDAQ:CATY) last announced its quarterly earnings data on Monday, July 22nd. The bank reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.02). The firm had revenue of $178.53 million during the quarter, compared to analyst estimates of $179.19 million. Cathay General Bancorp had a net margin of 22.08% and a return on equity of 11.96%. Cathay General Bancorp’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.28 earnings per share. 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 Performance

Shares of CATY stock opened at $46.04 on Friday. The company has a market cap of $3.35 billion, a P/E ratio of 10.19 and a beta of 1.11. The firm has a fifty day moving average price of $42.95 and a 200 day moving average price of $39.51. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.11. Cathay General Bancorp has a 12 month low of $32.08 and a 12 month high of $46.70.

Cathay General Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Thursday, August 29th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.95%. The ex-dividend date of this dividend was Thursday, August 29th. Cathay General Bancorp’s payout ratio is 30.09%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Truist Financial upped their target price on Cathay General Bancorp from $45.00 to $47.00 and gave the company a “hold” rating in a research report on Friday, September 20th. Piper Sandler raised their price objective on shares of Cathay General Bancorp from $32.00 to $36.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 23rd. Wedbush lifted their price objective on shares of Cathay General Bancorp from $44.00 to $50.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Finally, StockNews.com upgraded shares of Cathay General Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, July 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Cathay General Bancorp currently has a consensus rating of “Hold” and a consensus price target of $43.50.

Insider Buying and Selling

In other news, Chairman Dunson K. Cheng sold 12,401 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $44.79, for a total transaction of $555,440.79. Following the transaction, the chairman now directly owns 149,566 shares in the company, valued at $6,699,061.14. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Cathay General Bancorp news, EVP Kim R. Bingham sold 6,000 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $44.89, for a total value of $269,340.00. Following the completion of the sale, the executive vice president now 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Dunson K. Cheng sold 12,401 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $44.79, for a total transaction of $555,440.79. Following the transaction, the chairman now directly owns 149,566 shares in the company, valued at approximately $6,699,061.14. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,401 shares of company stock valued at $1,728,581 over the last three months. 4.76% of the stock is currently owned by company insiders.

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.