FY2025 EPS Estimates for Cathay General Bancorp (NASDAQ:CATY) Boosted by DA Davidson

Cathay General Bancorp (NASDAQ:CATY) – Research analysts at DA Davidson increased their FY2025 earnings per share (EPS) estimates for Cathay General Bancorp in a report released on Tuesday, April 23rd. DA Davidson analyst G. Tenner now forecasts that the bank will post earnings per share of $4.49 for the year, up from their prior estimate of $4.46. The consensus estimate for Cathay General Bancorp’s current full-year earnings is $3.94 per share.

A number of other brokerages also recently issued reports on CATY. Keefe, Bruyette & Woods lowered their price objective on Cathay General Bancorp from $46.00 to $41.00 and set a “market perform” rating on the stock in a research report on Tuesday. Wedbush reiterated an “outperform” rating and issued a $44.00 price objective on shares of Cathay General Bancorp in a research report on Tuesday. StockNews.com cut Cathay General Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, April 6th. Finally, Truist Financial reduced their target price on Cathay General Bancorp from $40.00 to $38.00 and set a “hold” rating on the stock in a research note on Thursday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, Cathay General Bancorp presently has an average rating of “Hold” and a consensus target price of $39.00.

Cathay General Bancorp Trading Up 0.2 %

Shares of CATY stock opened at $35.04 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.04. Cathay General Bancorp has a 52-week low of $27.24 and a 52-week high of $45.72. The company has a market capitalization of $2.55 billion, a PE ratio of 7.75 and a beta of 1.12. The business’s fifty day moving average is $37.61 and its 200 day moving average is $38.79.

Cathay General Bancorp (NASDAQ:CATY) last issued its quarterly earnings data on Monday, April 22nd. The bank reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.04). Cathay General Bancorp had a return on equity of 13.02% and a net margin of 24.41%. The business had revenue of $339.25 million during the quarter, compared to analysts’ expectations of $188.85 million. During the same quarter last year, the business posted $1.32 EPS.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CATY. SG Americas Securities LLC purchased a new position in Cathay General Bancorp during the 3rd quarter valued at about $1,831,000. State of Alaska Department of Revenue grew its holdings in shares of Cathay General Bancorp by 402.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 45,161 shares of the bank’s stock worth $1,569,000 after acquiring an additional 36,169 shares during the period. Boston Trust Walden Corp grew its holdings in shares of Cathay General Bancorp by 6.5% during the 3rd quarter. Boston Trust Walden Corp now owns 967,152 shares of the bank’s stock worth $33,618,000 after acquiring an additional 58,727 shares during the period. Maryland State Retirement & Pension System purchased a new position in shares of Cathay General Bancorp during the 3rd quarter worth approximately $929,000. Finally, New York State Teachers Retirement System grew its holdings in shares of Cathay General Bancorp by 0.6% during the 3rd quarter. New York State Teachers Retirement System now owns 158,597 shares of the bank’s stock worth $5,513,000 after acquiring an additional 976 shares during the period. Hedge funds and other institutional investors own 75.01% of the company’s stock.

Insider Activity

In related news, Vice Chairman Anthony M. Tang sold 7,000 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was 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 in the company, valued at approximately $8,885,525. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 4.76% of the company’s stock.

Cathay General Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Wednesday, February 28th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.88%. Cathay General Bancorp’s dividend payout ratio (DPR) is currently 30.09%.

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.