Cathay General Bancorp (CATY) Projected to Post Earnings on Wednesday

Cathay General Bancorp (NASDAQ:CATY) is anticipated to release its earnings data after the market closes on Wednesday, January 22nd. Analysts expect Cathay General Bancorp to post earnings of $1.10 per share and revenue of $184,865.20 billion for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

Cathay General Bancorp (NASDAQ:CATY) last announced its 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 net margin of 20.57% and a return on equity of 11.30%. The business had revenue of $359.86 million for the quarter, compared to analyst estimates of $182.70 million. During the same quarter in the prior year, the business earned $1.13 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 Trading Up 0.8 %

NASDAQ:CATY opened at $48.33 on Tuesday. Cathay General Bancorp has a one year low of $33.88 and a one year high of $55.29. The business’s 50-day simple moving average is $49.64 and its 200 day simple moving average is $45.49. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market cap of $3.44 billion, a price-to-earnings ratio of 12.17 and a beta of 1.13.

Cathay General Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Wednesday, November 27th were paid a $0.34 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.81%. Cathay General Bancorp’s dividend payout ratio (DPR) is presently 34.26%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CATY shares. Wedbush upped their target price on shares of Cathay General Bancorp from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Stephens raised Cathay General Bancorp from an “equal weight” rating to an “overweight” rating in a research report on Monday, December 9th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Cathay General Bancorp from $45.00 to $56.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $47.75.

Insider Buying and Selling at Cathay General Bancorp

In related news, EVP Thomas M. Lo sold 900 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 3,359 shares in the company, valued at $157,873. This trade represents a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Peter Wu sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $52.87, for a total value of $2,114,800.00. Following the completion of the sale, the insider now owns 295,252 shares of the company’s stock, valued at $15,609,973.24. This trade represents a 11.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,189 shares of company stock worth $2,500,047. 4.76% of the stock is owned by 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.