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

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

Cathay General Bancorp (NASDAQ:CATY) last issued its quarterly earnings results on Wednesday, January 24th. The bank reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.15. The company had revenue of $205.24 million during the quarter, compared to the consensus estimate of $197.95 million. Cathay General Bancorp had a return on equity of 13.89% and a net margin of 27.02%. 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 Up 3.9 %

Shares of CATY opened at $36.00 on Friday. The company has a market cap of $2.62 billion, a PE ratio of 7.41 and a beta of 1.12. The business has a fifty day moving average of $38.06 and a 200 day moving average of $38.78. Cathay General Bancorp has a 52-week low of $27.24 and a 52-week high of $45.72. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.25.

Cathay General Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Wednesday, February 28th were given a $0.34 dividend. The ex-dividend date was Tuesday, February 27th. This represents a $1.36 dividend on an annualized basis and a yield of 3.78%. Cathay General Bancorp’s dividend payout ratio is presently 27.98%.

Insider Transactions at Cathay General Bancorp

In other news, Vice Chairman Anthony M. Tang sold 7,000 shares of Cathay General Bancorp stock in a transaction on Monday, January 29th. The stock was sold at an average price of $43.45, for a total transaction of $304,150.00. Following the completion of the sale, the insider now directly owns 204,500 shares in the company, valued at $8,885,525. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Cathay General Bancorp

Institutional investors have recently made changes to their positions in the company. Centiva Capital LP purchased a new position in shares of Cathay General Bancorp during the second quarter valued at $239,000. Gotham Asset Management LLC purchased a new position in shares of Cathay General Bancorp during the first quarter valued at $227,000. Mackenzie Financial Corp purchased a new position in shares of Cathay General Bancorp during the fourth quarter valued at $215,000. Profund Advisors LLC purchased a new position in shares of Cathay General Bancorp during the first quarter valued at $205,000. Finally, Point72 Middle East FZE purchased a new position in shares of Cathay General Bancorp during the fourth quarter valued at $182,000. Hedge funds and other institutional investors own 75.01% of the company’s stock.

Analyst Upgrades and Downgrades

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