Cathay General Bancorp (NASDAQ:CATY) Forecasted to Earn FY2025 Earnings of $4.46 Per Share

Cathay General Bancorp (NASDAQ:CATY) – Investment analysts at DA Davidson dropped their FY2025 earnings per share estimates for Cathay General Bancorp in a report issued on Wednesday, April 17th. DA Davidson analyst G. Tenner now anticipates that the bank will post earnings of $4.46 per share for the year, down from their prior estimate of $4.49. The consensus estimate for Cathay General Bancorp’s current full-year earnings is $4.00 per share.

Several other equities research analysts have also recently issued reports on CATY. Truist Financial cut their price target on Cathay General Bancorp from $46.00 to $40.00 and set a “hold” rating for the company in a research note on Monday, April 1st. StockNews.com downgraded Cathay General Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, April 6th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $38.20.

Cathay General Bancorp Price Performance

Cathay General Bancorp stock opened at $34.66 on Thursday. Cathay General Bancorp has a 12 month low of $27.24 and a 12 month high of $45.72. The stock’s 50 day moving average is $38.14 and its 200-day moving average is $38.73. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $2.52 billion, a price-to-earnings ratio of 7.13 and a beta of 1.12.

Cathay General Bancorp (NASDAQ:CATY) last announced its quarterly earnings results on Wednesday, January 24th. The bank reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.15. The firm had revenue of $205.24 million for 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%.

Institutional Investors Weigh In On Cathay General Bancorp

Several large investors have recently modified their holdings of CATY. PNC Financial Services Group Inc. increased its stake in shares of Cathay General Bancorp by 29.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 12,156 shares of the bank’s stock worth $543,000 after purchasing an additional 2,754 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Cathay General Bancorp by 8.4% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,762 shares of the bank’s stock worth $1,242,000 after purchasing an additional 2,159 shares during the last quarter. Great West Life Assurance Co. Can increased its stake in shares of Cathay General Bancorp by 8.8% during the 1st quarter. Great West Life Assurance Co. Can now owns 43,851 shares of the bank’s stock worth $2,014,000 after purchasing an additional 3,548 shares during the last quarter. Yousif Capital Management LLC increased its stake in shares of Cathay General Bancorp by 1.7% during the 1st quarter. Yousif Capital Management LLC now owns 40,851 shares of the bank’s stock worth $1,828,000 after purchasing an additional 666 shares during the last quarter. Finally, Aviva PLC purchased a new position in Cathay General Bancorp in the 1st quarter valued at approximately $2,136,000. Hedge funds and other institutional investors own 75.01% of the company’s stock.

Insiders Place Their Bets

In other Cathay General Bancorp news, Vice Chairman Anthony M. Tang sold 7,000 shares of Cathay General Bancorp stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $43.45, for a total transaction of $304,150.00. Following the transaction, the insider now owns 204,500 shares of the company’s stock, valued at approximately $8,885,525. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 4.30% of the company’s stock.

Cathay General Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Wednesday, February 28th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $1.36 annualized dividend and a dividend yield of 3.92%. Cathay General Bancorp’s dividend payout ratio is currently 27.98%.

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.