Cathay General Bancorp (CATY) to Release Quarterly Earnings on Wednesday

Cathay General Bancorp (NASDAQ:CATY - Get Free Report) is projected to post its quarterly earnings results after the market closes on Wednesday, January 22nd. Analysts expect Cathay General Bancorp to post earnings of $1.10 per share and revenue of $184,865.20 billion for the quarter.

Cathay General Bancorp (NASDAQ:CATY - Get Free Report) last issued its quarterly earnings results on Monday, October 21st. The bank reported $0.94 earnings per share (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 for the quarter, compared to analysts' expectations of $182.70 million. During the same quarter in the previous year, the business earned $1.13 EPS. 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

Cathay General Bancorp stock 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 stock's 50 day moving average is $49.93 and its two-hundred day moving average is $45.17. Cathay General Bancorp has a 1 year low of $33.88 and a 1 year high of $55.29. The stock has a market cap of $3.46 billion, a price-to-earnings 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.

Cathay General Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Wednesday, November 27th were paid a $0.34 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $1.36 annualized dividend and a dividend yield of 2.80%. Cathay General Bancorp's payout ratio is presently 34.26%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Wedbush boosted their price objective on Cathay General Bancorp from $50.00 to $52.00 and gave the company an "outperform" rating in a research note on Wednesday, October 23rd. Keefe, Bruyette & Woods lifted their target price on shares of 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. 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, Truist Financial lifted 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Cathay General Bancorp has an average rating of "Hold" and an average price target of $47.75.

Insider Activity at Cathay General Bancorp

In other Cathay General Bancorp news, EVP Thomas M. Lo sold 900 shares of the company's stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $47.00, for a total value of $42,300.00. Following the transaction, the executive vice president now directly owns 3,359 shares in the company, valued at $157,873. This represents a 21.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Peter Wu sold 7,289 shares of the firm's stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $47.05, for a total value of $342,947.45. Following the completion of the sale, the insider now directly owns 347,963 shares in the company, valued at approximately $16,371,659.15. The trade was a 2.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,189 shares of company stock valued at $2,500,047. Corporate insiders own 4.76% of the company's stock.

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.

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