Equity research analysts predict that Cathay General Bancorp (NASDAQ: CATY) will report earnings per share (EPS) of $ 0.94 for the current fiscal quarter, Zacks investment research reports. Three analysts provided earnings estimates for Cathay General Bancorp, with the lowest EPS estimate being $ 0.91 and the highest estimate being $ 0.96. Cathay General Bancorp posted earnings of $ 0.89 per share in the same quarter last year, indicating a positive growth rate of 5.6% year-over-year. The company is expected to release its next results on Wednesday, January 26.
On average, analysts predict that Cathay General Bancorp will report annual earnings of $ 3.76 per share for the current year, with EPS estimates ranging from $ 3.74 to $ 3.78. For the next fiscal year, analysts predict the company will post earnings of $ 3.77 per share, with EPS estimates ranging from $ 3.68 to $ 3.90. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research companies that cover Cathay General Bancorp.
Cathay General Bancorp (NASDAQ: CATY) last reported its results on Sunday, October 24. The bank reported EPS of $ 0.93 for the quarter, beating analyst consensus estimates 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’ expectations of $ 164.30 million. In the same quarter of the previous year, the company achieved earnings per share of $ 0.71. The company’s turnover is up 2.6% compared to the same quarter last year.
Separately, Zacks investment research Reduces Cathay General Bancorp from a âbuyâ rating to a âconservationâ rating in a report released Wednesday. Five equity research analysts rated the stock with a conservation rating. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $ 46.00.
In other news from Cathay General Bancorp, EVP Kim R. Bingham sold 3,000 shares of the company in a trade on Friday, October 29. The stock was sold for an average price of $ 42.68, for a total trade of $ 128,040.00. The transaction has been disclosed in a legal file with the Securities & Exchange Commission, which is available at the SEC website. 4.23% of the shares are held by company insiders.
A number of hedge funds have recently bought and sold shares in the company. Jefferies Group LLC acquired a new stake in Cathay General Bancorp during the third quarter valued at $ 240,000. UBS Asset Management Americas Inc. strengthened its position in Cathay General Bancorp shares by 3.5% during the third quarter. UBS Asset Management Americas Inc. now owns 81,280 shares of the bank valued at $ 3,364,000 after purchasing an additional 2,786 shares during the period. Bank of New York Mellon Corp increased its position in Cathay General Bancorp shares by 3.1% in the third quarter. Bank of New York Mellon Corp now owns 1,224,472 shares of the bank valued at $ 50,681,000 after purchasing an additional 37,381 shares during the period. Schonfeld Strategic Advisors LLC increased its position in Cathay General Bancorp shares by 18.2% in the third quarter. Schonfeld Strategic Advisors LLC now owns 59,100 shares of the bank valued at $ 2,446,000 after purchasing an additional 9,100 shares during the period. Finally, Captrust Financial Advisors strengthened its position in Cathay General Bancorp shares by 3.0% during the third quarter. Captrust Financial Advisors now owns 23,427 shares of the bank valued at $ 970,000 after purchasing an additional 684 shares during the period. 68.71% of the capital is held by institutional investors.
NASDAQ: CATY opened at $ 46.30 on Friday. Cathay General Bancorp has a one-year low of $ 33.44 and a one-year high of $ 46.46. The company has a debt ratio of 0.07, a rapid ratio of 1.04, and a current ratio of 1.04. The stock has a market cap of $ 3.58 billion, a PE ratio of 12.48 and a beta of 1.37. The stock has a 50-day moving average price of $ 43.71 and a 200-day moving average price of $ 41.02.
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. This is an increase from Cathay General Bancorp’s previous quarterly dividend of $ 0.31. The ex-dividend date was Friday, November 26. This represents an annualized dividend of $ 1.76 and a return of 3.80%. Cathay General Bancorp’s dividend payout ratio (DPR) is 36.66%.
Cathay General Bancorp Company Profile
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, household and other consumer expenses.
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