DA Davidson Brokers Lower Earnings Estimates for Cathay General Bancorp (NASDAQ:CATY)

Cathay General Bancorp (NASDAQ:CATY) – DA Davidson reduced their FY2025 earnings estimates for Cathay General Bancorp in a research report issued to clients and investors on Wednesday, April 17th. DA Davidson analyst G. Tenner now expects that the bank will earn $4.46 per share for the year, down from their previous forecast of $4.49. The consensus estimate for Cathay General Bancorp’s current full-year earnings is $4.00 per share.

Several other equities research analysts have also weighed in on CATY. Truist Financial dropped 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 lowered shares of Cathay General Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, April 6th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Cathay General Bancorp has a consensus rating of “Hold” and an average target price of $38.20.

Cathay General Bancorp Price Performance

CATY opened at $36.00 on Thursday. The firm has a market cap of $2.62 billion, a price-to-earnings ratio of 7.41 and a beta of 1.12. Cathay General Bancorp has a fifty-two week low of $27.24 and a fifty-two week high of $45.72. The company’s 50-day moving average price is $38.06 and its 200 day moving average price is $38.75. 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 (NASDAQ:CATY) last released 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. The firm had revenue of $205.24 million for the quarter, compared to analyst estimates of $197.95 million. Cathay General Bancorp had a net margin of 27.02% and a return on equity of 13.89%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC bought a new position in shares of Cathay General Bancorp in the fourth quarter valued at approximately $51,000. Lazard Asset Management LLC boosted its holdings in shares of Cathay General Bancorp by 41.4% in the fourth quarter. Lazard Asset Management LLC now owns 1,277 shares of the bank’s stock valued at $52,000 after acquiring an additional 374 shares in the last quarter. Covestor Ltd boosted its holdings in shares of Cathay General Bancorp by 73.5% in the first quarter. Covestor Ltd now owns 1,157 shares of the bank’s stock valued at $52,000 after acquiring an additional 490 shares in the last quarter. KBC Group NV bought a new position in shares of Cathay General Bancorp in the fourth quarter valued at approximately $53,000. Finally, State of Wyoming boosted its holdings in shares of Cathay General Bancorp by 31.7% in the fourth quarter. State of Wyoming now owns 1,321 shares of the bank’s stock valued at $54,000 after acquiring an additional 318 shares in the last quarter. 75.01% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Cathay General Bancorp news, Vice Chairman Anthony M. Tang sold 7,000 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $43.45, for a total value of $304,150.00. Following the completion of the transaction, the insider now owns 204,500 shares in the company, valued at approximately $8,885,525. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 4.30% of the stock is owned by insiders.

Cathay General Bancorp Dividend Announcement

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

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.