DA Davidson Has Bullish Estimate for CATY FY2025 Earnings

Cathay General Bancorp (NASDAQ:CATY) – Equities researchers at DA Davidson raised their FY2025 earnings estimates for Cathay General Bancorp in a report issued on Thursday, January 23rd. DA Davidson analyst G. Tenner now forecasts that the bank will earn $4.93 per share for the year, up from their previous estimate of $4.33. The consensus estimate for Cathay General Bancorp’s current full-year earnings is $4.16 per share.

Several other equities research analysts also recently commented on the stock. Stephens cut their target price on shares of Cathay General Bancorp from $60.00 to $57.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Piper Sandler reduced their price objective on shares of Cathay General Bancorp from $45.00 to $43.00 and set an “underweight” rating on the stock in a research note on Monday. Keefe, Bruyette & Woods decreased their price objective on Cathay General Bancorp from $56.00 to $55.00 and set a “market perform” rating for the company in a report on Thursday, January 23rd. Finally, Wedbush lifted their target price on Cathay General Bancorp from $50.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $50.80.

Cathay General Bancorp Stock Performance

NASDAQ:CATY opened at $47.30 on Monday. The stock’s 50-day moving average is $49.17 and its 200-day moving average is $45.91. Cathay General Bancorp has a 1-year low of $33.88 and a 1-year high of $55.29. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.07. The stock has a market cap of $3.37 billion, a P/E ratio of 11.94 and a beta of 1.13.

Cathay General Bancorp (NASDAQ:CATY) last issued its earnings results on Wednesday, January 22nd. The bank reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.02. Cathay General Bancorp had a return on equity of 10.75% and a net margin of 20.57%.

Cathay General Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Wednesday, November 27th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend was Wednesday, November 27th. Cathay General Bancorp’s dividend payout ratio is presently 34.34%.

Insider Activity at Cathay General Bancorp

In other Cathay General Bancorp news, Vice Chairman Peter Wu sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $52.87, for a total value of $2,114,800.00. Following the transaction, the insider now directly owns 295,252 shares of the company’s stock, valued at approximately $15,609,973.24. The trade was a 11.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.76% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quarry LP raised its holdings in shares of Cathay General Bancorp by 76.3% during the second quarter. Quarry LP now owns 765 shares of the bank’s stock valued at $29,000 after purchasing an additional 331 shares during the period. CWM LLC raised its stake in Cathay General Bancorp by 19.9% during the 3rd quarter. CWM LLC now owns 1,517 shares of the bank’s stock worth $65,000 after buying an additional 252 shares during the period. GAMMA Investing LLC raised its stake in Cathay General Bancorp by 24.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,531 shares of the bank’s stock worth $66,000 after buying an additional 305 shares during the period. KBC Group NV boosted its holdings in Cathay General Bancorp by 68.5% in the fourth quarter. KBC Group NV now owns 3,730 shares of the bank’s stock worth $178,000 after acquiring an additional 1,517 shares in the last quarter. Finally, CIBC Asset Management Inc acquired a new stake in Cathay General Bancorp in the third quarter valued at approximately $201,000. 75.01% of the stock is owned by institutional investors.

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.