Wall Street analysts predict that Cathay General Bancorp (NASDAQ: CATY) will report sales of $ 166.37 million for the current quarter, according to Zack. Three analysts have estimated Cathay General Bancorp’s earnings, with estimates ranging from $ 165.90 million to $ 167.20 million. Cathay General Bancorp reported sales of $ 151.27 million in the same quarter last year, suggesting a positive year-over-year growth rate of 10%. The company is expected to announce its next quarterly earnings report on Wednesday, January 26.
According to Zacks, analysts expect Cathay General Bancorp to report annual revenue of $ 644.03 million for the current fiscal year, with estimates ranging from $ 643.00 million to 646.10 million. millions of dollars. For next year, analysts predict the company will post sales of $ 699.03 million, with estimates ranging from $ 690.20 million to $ 705.20 million. Zacks Investment Research sales averages are an average based on a survey of analysts who track Cathay General Bancorp.
Cathay General Bancorp (NASDAQ: CATY) last released its quarterly results on Sunday, October 24. The bank reported earnings per share (EPS) of $ 0.93 for the quarter, beating Zacks’ consensus estimate of $ 0.91 by $ 0.02. Cathay General Bancorp recorded a return on equity of 12.00% and a net margin of 41.32%. The company posted revenue of $ 164.70 million in the quarter, compared to analysts’ estimates of $ 164.30 million. In the same quarter of the previous year, the company posted EPS of $ 0.71. Cathay General Bancorp’s revenue for the quarter increased 2.6% from the same quarter last year.
Several research analysts have commented on CATY’s shares. Zacks investment research downgraded Cathay General Bancorp’s stock rating from a “buy” rating to a “conservation” rating in a report released on Wednesday, October 27. Truist increased its price target for Cathay General Bancorp shares from $ 40.00 to $ 44.00 and assigned the company a “conservation” rating in a report released on Monday, August 30. Finally, Truist Securities raised its price target on Cathay General Bancorp shares from $ 40.00 to $ 44.00 and assigned the company a “conservation” rating in a report released on Monday, August 30. Five analysts rated the stock with a conservation rating. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $ 45.
CATY shares opened at $ 40.76 on Tuesday. Cathay General Bancorp has a 52 week low of $ 30.25 and a 52 week high of $ 46.42. The company has a debt to equity ratio of 0.07, a current ratio of 1.04, and a rapid ratio of 1.04. The stock has a market cap of $ 3.15 billion, a price-to-earnings ratio of 10.99 and a beta of 1.38. The company has a fifty-day simple moving average of $ 43.21.
The company also recently announced a quarterly dividend, which was paid on Thursday, December 9. Shareholders of record on Monday, November 29, received a dividend of $ 0.44 per share. The ex-dividend date was Friday, November 26. This is a positive change from Cathay General Bancorp’s previous quarterly dividend of $ 0.31. This represents a dividend of $ 1.76 on an annualized basis and a dividend yield of 4.32%. Cathay General Bancorp’s dividend payout ratio (DPR) is 36.66%.
In other news, EVP Kim R. Bingham sold 3,000 shares of the company in a transaction that took place on Friday, October 29. The shares were sold at an average price of $ 42.68, for a total trade of $ 128,040.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 4.23% of the company’s shares.
Hedge funds recently changed their holdings of stocks. Charles Schwab Investment Management Inc. increased its stake in Cathay General Bancorp by 8.9% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,331,372 shares of the bank valued at $ 52,403,000 after purchasing an additional 108,250 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Cathay General Bancorp by 4.8% during the second quarter. Price T Rowe Associates Inc. MD now owns 28,173 shares of the bank valued at $ 1,109,000 after purchasing an additional 1,301 shares during the period. Invesco Ltd. increased its stake in Cathay General Bancorp by 5.6% during the second quarter. Invesco Ltd. now owns 994,467 shares of the bank valued at $ 39,142,000 after purchasing an additional 52,863 shares during the period. Bridgefront Capital LLC acquired a new position in Cathay General Bancorp during the second quarter valued at approximately $ 284,000. Finally, Virginia Retirement Systems ET AL increased its stake in Cathay General Bancorp by 12.3% during the second quarter. Virginia Retirement Systems ET AL now owns 33,900 shares of the bank valued at $ 1,334,000 after purchasing an additional 3,700 shares during the period. 68.71% of the shares are currently held by institutional investors.
About Cathay General Bancorp
Cathay General Bancorp is a holding company which provides financial services. It offers commercial mortgages, business loans, small business administration loans, residential mortgages, real estate construction loans, home equity lines of credit and personal installment loans for expenses. automobiles, housework and other consumer expenses.
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