Wall Street analysts expect Cathay General Bancorp (NASDAQ:CATY) to post earnings per share (EPS) of $0.89 for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Cathay General Bancorp’s earnings, with the lowest EPS estimate coming in at $0.88 and the highest estimate coming in at $0.90. Cathay General Bancorp posted earnings per share of $0.85 during the same quarter last year, which indicates a positive year-over-year growth rate of 4.7%. The company is expected to issue its next quarterly earnings report on Wednesday, October 16th.
On average, analysts expect that Cathay General Bancorp will report full year earnings of $3.47 per share for the current financial year, with EPS estimates ranging from $3.41 to $3.54. For the next fiscal year, analysts forecast that the company will post earnings of $3.50 per share, with EPS estimates ranging from $3.40 to $3.56. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow Cathay General Bancorp.
Cathay General Bancorp (NASDAQ:CATY) last released its earnings results on Wednesday, July 17th. The bank reported $0.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.04. Cathay General Bancorp had a return on equity of 13.08% and a net margin of 36.43%. The firm had revenue of $156.17 million for the quarter, compared to analysts’ expectations of $154.13 million. During the same quarter in the previous year, the business posted $0.90 earnings per share.
A number of research analysts have issued reports on the company. Zacks Investment Research cut First Merchants from a “hold” rating to a “sell” rating in a research report on Monday, July 1st. Piper Jaffray Companies set a $92.00 target price on Wintrust Financial and gave the company a “buy” rating in a research report on Monday, July 8th. Finally, BidaskClub upgraded Westport Fuel Systems from a “hold” rating to a “buy” rating in a research report on Friday, July 12th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $46.00.
Cathay General Bancorp stock traded up $1.19 during midday trading on Thursday, reaching $35.96. The company’s stock had a trading volume of 608,836 shares, compared to its average volume of 446,019. Cathay General Bancorp has a 52 week low of $31.94 and a 52 week high of $43.53. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.29. The firm’s 50-day moving average is $35.00. The firm has a market cap of $2.80 billion, a PE ratio of 10.77, a PEG ratio of 1.26 and a beta of 1.24.
Cathay General Bancorp declared that its board has initiated a share buyback plan on Tuesday, May 7th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the bank to reacquire up to 1.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
Several large investors have recently added to or reduced their stakes in CATY. JOYN Advisors Inc. grew its holdings in shares of Cathay General Bancorp by 198.0% during the fourth quarter. JOYN Advisors Inc. now owns 733 shares of the bank’s stock worth $25,000 after purchasing an additional 487 shares during the last quarter. Pearl River Capital LLC grew its holdings in shares of Cathay General Bancorp by 288.0% during the first quarter. Pearl River Capital LLC now owns 1,296 shares of the bank’s stock worth $44,000 after purchasing an additional 962 shares during the last quarter. Royce & Associates LP bought a new stake in shares of Cathay General Bancorp during the first quarter worth about $48,000. Denali Advisors LLC bought a new stake in shares of Cathay General Bancorp during the second quarter worth about $108,000. Finally, NumerixS Investment Technologies Inc bought a new stake in shares of Cathay General Bancorp during the first quarter worth about $122,000. Institutional investors own 71.58% 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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