DA Davidson Has Positive Outlook for CATY FY2025 Earnings

Cathay General Bancorp (NASDAQ:CATY - Free Report) - Stock analysts at DA Davidson upped their FY2025 earnings estimates for shares of Cathay General Bancorp in a research report issued to clients and investors on Thursday, January 23rd. DA Davidson analyst G. Tenner now forecasts that the bank will earn $4.93 per share for the year, up from their previous estimate of $4.33. The consensus estimate for Cathay General Bancorp's current full-year earnings is $4.16 per share.

Cathay General Bancorp (NASDAQ:CATY - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The bank reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.02. Cathay General Bancorp had a net margin of 20.57% and a return on equity of 10.75%.

Several other research analysts have also commented on CATY. Stephens lowered their price target on Cathay General Bancorp from $60.00 to $57.00 and set an "overweight" rating for the company in a research report on Thursday. Wedbush raised their target price on Cathay General Bancorp from $50.00 to $52.00 and gave the company an "outperform" rating in a report on Wednesday, October 23rd. Piper Sandler cut their price target on shares of Cathay General Bancorp from $45.00 to $43.00 and set an "underweight" rating on the stock in a research note on Monday. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Cathay General Bancorp from $56.00 to $55.00 and set a "market perform" rating on the stock in a research report on Thursday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $50.80.

Cathay General Bancorp Trading Up 2.0 %

Shares of NASDAQ:CATY traded up $0.95 during mid-day trading on Monday, reaching $47.76. 374,996 shares of the company were exchanged, compared to its average volume of 357,150. Cathay General Bancorp has a 1 year low of $33.88 and a 1 year high of $55.29. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.03 and a quick ratio of 1.03. The firm's 50-day simple moving average is $49.24 and its 200 day simple moving average is $45.86. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of 12.06 and a beta of 1.13.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CATY. Sei Investments Co. raised its position in Cathay General Bancorp by 32.7% in the second quarter. Sei Investments Co. now owns 10,222 shares of the bank's stock worth $386,000 after acquiring an additional 2,520 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in Cathay General Bancorp by 63.8% in the second quarter. Thrivent Financial for Lutherans now owns 111,183 shares of the bank's stock valued at $4,194,000 after buying an additional 43,285 shares in the last quarter. Profund Advisors LLC raised its stake in shares of Cathay General Bancorp by 27.0% during the 2nd quarter. Profund Advisors LLC now owns 6,846 shares of the bank's stock worth $258,000 after buying an additional 1,457 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Cathay General Bancorp by 39.4% in the 2nd quarter. AQR Capital Management LLC now owns 29,804 shares of the bank's stock worth $1,124,000 after buying an additional 8,429 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Cathay General Bancorp by 4.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 39,076 shares of the bank's stock valued at $1,474,000 after acquiring an additional 1,624 shares during the last quarter. 75.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cathay General Bancorp

In related news, EVP Thomas M. Lo sold 900 shares of the firm's stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $47.00, for a total transaction of $42,300.00. Following the transaction, the executive vice president now owns 3,359 shares in the company, valued at $157,873. This trade represents a 21.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Vice Chairman Peter Wu sold 7,289 shares of Cathay General Bancorp stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $47.05, for a total transaction of $342,947.45. Following the completion of the transaction, the insider now directly owns 347,963 shares in the company, valued at $16,371,659.15. The trade was a 2.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 48,189 shares of company stock worth $2,500,047 over the last three months. Insiders own 4.76% of the company's stock.

Cathay General Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Wednesday, November 27th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend was Wednesday, November 27th. Cathay General Bancorp's dividend payout ratio (DPR) is 34.34%.

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.