Equities Analysts Offer Predictions for CATY Q4 Earnings

Cathay General Bancorp (NASDAQ:CATY) – Equities research analysts at DA Davidson issued their Q4 2024 earnings per share (EPS) estimates for Cathay General Bancorp in a research note issued on Wednesday, October 23rd. DA Davidson analyst G. Tenner anticipates that the bank will post earnings of $1.17 per share for the quarter. The consensus estimate for Cathay General Bancorp’s current full-year earnings is $4.02 per share.

A number of other research firms have also recently commented on CATY. Truist Financial lifted their target price on Cathay General Bancorp from $45.00 to $47.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. StockNews.com raised Cathay General Bancorp from a “sell” rating to a “hold” rating in a report on Friday, July 19th. Wedbush raised their price target on Cathay General Bancorp from $50.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Piper Sandler raised their price target on Cathay General Bancorp from $32.00 to $36.00 and gave the stock an “underweight” rating in a report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $44.00.

Cathay General Bancorp Stock Up 0.5 %

CATY opened at $45.63 on Thursday. The business’s 50-day simple moving average is $43.22 and its 200-day simple moving average is $39.71. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.03 and a current ratio of 1.03. Cathay General Bancorp has a one year low of $32.08 and a one year high of $46.70. The stock has a market capitalization of $3.32 billion, a P/E ratio of 10.10 and a beta of 1.11.

Cathay General Bancorp (NASDAQ:CATY) last posted its earnings results on Monday, October 21st. The bank reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). Cathay General Bancorp had a return on equity of 11.96% and a net margin of 22.08%. The firm had revenue of $359.86 million for the quarter, compared to analyst estimates of $182.70 million. During the same quarter last year, the firm posted $1.13 EPS.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CATY. Vanguard Group Inc. raised its position in shares of Cathay General Bancorp by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 8,254,816 shares of the bank’s stock worth $367,917,000 after purchasing an additional 196,146 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Cathay General Bancorp by 38.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,129 shares of the bank’s stock worth $2,065,000 after purchasing an additional 16,011 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Cathay General Bancorp by 105.6% during the 1st quarter. BNP Paribas Financial Markets now owns 40,975 shares of the bank’s stock worth $1,550,000 after purchasing an additional 21,042 shares during the last quarter. Nordea Investment Management AB raised its position in shares of Cathay General Bancorp by 1.9% during the 1st quarter. Nordea Investment Management AB now owns 181,928 shares of the bank’s stock worth $6,979,000 after purchasing an additional 3,478 shares during the last quarter. Finally, Texas Permanent School Fund Corp raised its holdings in Cathay General Bancorp by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 63,582 shares of the bank’s stock valued at $2,405,000 after acquiring an additional 824 shares during the last quarter. 75.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Vice Chairman Peter Wu sold 20,000 shares of Cathay General Bancorp stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $45.19, for a total transaction of $903,800.00. Following the completion of the sale, the insider now directly owns 355,252 shares in the company, valued at approximately $16,053,837.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Chairman Dunson K. Cheng sold 12,401 shares of Cathay General Bancorp stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $44.79, for a total transaction of $555,440.79. Following the completion of the sale, the chairman now directly owns 149,566 shares in the company, valued at approximately $6,699,061.14. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Peter Wu sold 20,000 shares of Cathay General Bancorp stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $45.19, for a total value of $903,800.00. Following the transaction, the insider now owns 355,252 shares of the company’s stock, valued at $16,053,837.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.76% of the company’s stock.

Cathay General Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Thursday, August 29th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend was Thursday, August 29th. Cathay General Bancorp’s dividend payout ratio is presently 30.09%.

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.