Cathay General Bancorp (NASDAQ:CATY - Get Free Report) released its earnings results on Monday. The bank reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.03, Zacks reports. Cathay General Bancorp had a return on equity of 10.70% and a net margin of 20.57%. The firm had revenue of $187.84 million for the quarter, compared to the consensus estimate of $186.17 million. During the same period in the prior year, the firm earned $1.05 EPS.
Cathay General Bancorp Stock Performance
Shares of NASDAQ CATY traded down $0.56 during midday trading on Friday, reaching $42.10. 32,768 shares of the stock were exchanged, compared to its average volume of 353,350. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.07. The firm has a market cap of $2.95 billion, a price-to-earnings ratio of 10.63 and a beta of 0.99. The firm has a 50-day simple moving average of $42.49 and a two-hundred day simple moving average of $46.25. Cathay General Bancorp has a twelve month low of $34.42 and a twelve month high of $55.29.
Cathay General Bancorp Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Thursday, February 27th were given a $0.34 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.36 annualized dividend and a yield of 3.23%. Cathay General Bancorp's dividend payout ratio is presently 34.34%.
Analyst Ratings Changes
A number of brokerages have recently weighed in on CATY. Keefe, Bruyette & Woods cut their price objective on Cathay General Bancorp from $56.00 to $55.00 and set a "market perform" rating on the stock in a report on Thursday, January 23rd. Stephens reissued an "overweight" rating and set a $51.00 price target on shares of Cathay General Bancorp in a research report on Tuesday. Finally, Piper Sandler dropped 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 report on Monday, January 27th. One research 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. Based on data from MarketBeat.com, Cathay General Bancorp has an average rating of "Hold" and a consensus target price of $49.60.
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Cathay General Bancorp Company Profile
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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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