Cathay General Bancorp (CATY) Projected to Post Quarterly Earnings on Wednesday

Cathay General Bancorp (NASDAQ:CATY) will likely be announcing its earnings results after the market closes on Wednesday, January 22nd. Analysts expect the company to announce earnings of $1.10 per share and revenue of $184,865.20 billion for the quarter.

Cathay General Bancorp (NASDAQ:CATY) last issued its quarterly earnings data on Monday, October 21st. The bank reported $0.94 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.01). Cathay General Bancorp had a return on equity of 11.30% and a net margin of 20.57%. The company had revenue of $359.86 million during the quarter, compared to analysts’ expectations of $182.70 million. During the same quarter last year, the business earned $1.13 earnings per share. 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 1.8 %

Shares of NASDAQ:CATY traded up $0.86 during trading on Wednesday, hitting $48.55. The stock had a trading volume of 233,452 shares, compared to its average volume of 322,450. The company has a market capitalization of $3.46 billion, a PE ratio of 12.23 and a beta of 1.13. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.07. The firm’s fifty day moving average is $49.93 and its 200 day moving average is $45.17. Cathay General Bancorp has a 12 month low of $33.88 and a 12 month high of $55.29.

Cathay General Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Wednesday, November 27th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend was Wednesday, November 27th. Cathay General Bancorp’s dividend payout ratio (DPR) is presently 34.26%.

Insiders Place Their Bets

In other news, Vice Chairman Peter Wu sold 40,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $52.87, for a total transaction of $2,114,800.00. Following the completion of the sale, the insider now owns 295,252 shares of the company’s stock, valued at $15,609,973.24. This represents a 11.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Thomas M. Lo sold 900 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $47.00, for a total transaction of $42,300.00. Following the completion of the transaction, the executive vice president now owns 3,359 shares in the company, valued at $157,873. The trade was a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,189 shares of company stock valued at $2,500,047. Company insiders own 4.76% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on CATY. Keefe, Bruyette & Woods increased their target price on Cathay General Bancorp from $45.00 to $56.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Truist Financial raised their price objective on shares of Cathay General Bancorp from $45.00 to $47.00 and gave the company a “hold” rating in a research note on Friday, September 20th. Stephens upgraded shares of Cathay General Bancorp from an “equal weight” rating to an “overweight” rating in a research note on Monday, December 9th. Finally, Wedbush raised their price target on shares of Cathay General Bancorp from $50.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $47.75.

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.