Research Analysts Set Expectations for CATY Q4 Earnings

Cathay General Bancorp (NASDAQ:CATY - Free Report) - Analysts at DA Davidson issued their Q4 2024 earnings per share (EPS) estimates for Cathay General Bancorp in a research report 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.

Cathay General Bancorp (NASDAQ:CATY - Get Free Report) last released its quarterly earnings data on Monday, October 21st. The bank reported $0.94 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.01). The company had revenue of $359.86 million during the quarter, compared to analysts' expectations of $182.70 million. Cathay General Bancorp had a return on equity of 11.96% and a net margin of 22.08%. During the same quarter in the prior year, the firm posted $1.13 EPS.

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

Cathay General Bancorp Trading Down 0.2 %

Shares of NASDAQ CATY traded down $0.07 during trading hours on Thursday, hitting $45.56. The company's stock had a trading volume of 261,702 shares, compared to its average volume of 327,838. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market cap of $3.32 billion, a price-to-earnings ratio of 10.00 and a beta of 1.11. Cathay General Bancorp has a 12 month low of $32.08 and a 12 month high of $46.70. The business has a 50-day simple moving average of $43.22 and a 200-day simple moving average of $39.71.

Hedge Funds Weigh In On Cathay General Bancorp

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted 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 last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Cathay General Bancorp in the 1st quarter worth approximately $946,000. SG Americas Securities LLC raised its holdings in Cathay General Bancorp by 504.2% in the 2nd quarter. SG Americas Securities LLC now owns 24,568 shares of the bank's stock worth $927,000 after acquiring an additional 20,502 shares during the last quarter. ORG Partners LLC purchased a new position in Cathay General Bancorp in the 1st quarter worth approximately $982,000. Finally, Nordea Investment Management AB raised its holdings in Cathay General Bancorp by 1.9% in the 1st quarter. Nordea Investment Management AB now owns 181,928 shares of the bank's stock worth $6,979,000 after acquiring an additional 3,478 shares during the last quarter. 75.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cathay General Bancorp

In other Cathay General Bancorp news, 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 transaction of $903,800.00. Following the sale, the insider now directly owns 355,252 shares of the company's stock, valued at approximately $16,053,837.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the chairman now owns 149,566 shares of the company's stock, valued at $6,699,061.14. The trade was 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Thursday, August 29th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $1.36 annualized dividend and a yield of 2.99%. Cathay General Bancorp's payout ratio is 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.