Cathay General Bancorp (CATY) to Release Earnings on Monday

Cathay General Bancorp (NASDAQ:CATY) is scheduled to issue its quarterly earnings data after the market closes on Monday, April 22nd. Analysts expect the company to announce earnings of $1.02 per share for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

Cathay General Bancorp (NASDAQ:CATY) last issued its quarterly earnings data on Wednesday, January 24th. The bank reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.15. Cathay General Bancorp had a net margin of 27.02% and a return on equity of 13.89%. The company had revenue of $205.24 million for the quarter, compared to analysts’ expectations of $197.95 million. 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 Performance

Shares of Cathay General Bancorp stock opened at $36.00 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.25. Cathay General Bancorp has a twelve month low of $27.24 and a twelve month high of $45.72. The stock has a market cap of $2.62 billion, a price-to-earnings ratio of 7.41 and a beta of 1.12. The company’s fifty day moving average is $38.06 and its 200 day moving average is $38.75.

Cathay General Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Wednesday, February 28th were paid a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $1.36 annualized dividend and a dividend yield of 3.78%. Cathay General Bancorp’s dividend payout ratio is 27.98%.

Insider Activity at Cathay General Bancorp

In related news, Vice Chairman Anthony M. Tang sold 7,000 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $43.45, for a total value of $304,150.00. Following the transaction, the insider now owns 204,500 shares in the company, valued at $8,885,525. The transaction was disclosed in a document filed with the SEC, which is available through this link. 4.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cathay General Bancorp

Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in shares of Cathay General Bancorp by 3.1% during the second quarter. BlackRock Inc. now owns 9,016,193 shares of the bank’s stock valued at $290,231,000 after purchasing an additional 267,075 shares during the period. Vanguard Group Inc. raised its holdings in shares of Cathay General Bancorp by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 8,254,816 shares of the bank’s stock valued at $367,917,000 after purchasing an additional 196,146 shares during the period. State Street Corp raised its holdings in shares of Cathay General Bancorp by 9.4% during the first quarter. State Street Corp now owns 3,708,830 shares of the bank’s stock valued at $165,970,000 after purchasing an additional 317,721 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Cathay General Bancorp by 8.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,031,881 shares of the bank’s stock valued at $82,880,000 after purchasing an additional 153,790 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Cathay General Bancorp by 1.6% during the first quarter. Geode Capital Management LLC now owns 1,441,875 shares of the bank’s stock valued at $49,774,000 after purchasing an additional 22,981 shares during the period. Institutional investors and hedge funds own 75.01% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on CATY. Truist Financial reduced their price objective on shares of Cathay General Bancorp from $46.00 to $40.00 and set a “hold” rating on the stock in a research note on Monday, April 1st. StockNews.com cut shares of Cathay General Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, April 6th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Cathay General Bancorp currently has an average rating of “Hold” and an average target price of $38.20.

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.