Stock analysts expect Cathay General Bancorp (NASDAQ:CATY – Get a rating) will report sales of $171.87 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have released earnings estimates for Cathay General Bancorp, with the lowest sales estimate of $168.00 million and the highest estimate of $177.60 million. Cathay General Bancorp posted sales of $151.82 million in the same quarter last year, suggesting a positive year-over-year growth rate of 13.2%. The company is expected to release its next results on Monday, April 25.
On average, analysts expect Cathay General Bancorp to report revenue of $727.57 million for the current year, with estimates ranging from $720.80 to $737.90 million. For the next fiscal year, analysts expect the company to record sales of $799.17 million, with estimates ranging from $780.50 million to $819.00 million. Zacks sales averages are an average average based on a survey of sell-side analysts who cover Cathay General Bancorp.
Cathay General Bancorp (NASDAQ:CATY- Get a rating) last released its quarterly results on Thursday, January 27. The bank reported earnings per share of $0.98 for the quarter, beating the Zacks consensus estimate of $0.94 by $0.04. The company posted revenue of $175.26 million in the quarter, versus a consensus estimate of $166.02 million. Cathay General Bancorp had a return on equity of 12.15% and a net margin of 41.37%. The company’s revenues increased by 15.9% compared to the same quarter last year. During the same period last year, the company earned earnings per share of $0.89.
Separately, Zacks Investment Research upgraded Cathay General Bancorp from a “hold” rating to a “buy” rating and set a price target of $52.00 for the company in a Tuesday, January 11 research note.
CATY stock opened at $45.26 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt ratio of 0.07. The company has a 50-day moving average price of $46.04 and a two-hundred-day moving average price of $43.41. The company has a market capitalization of $3.41 billion, a price-earnings ratio of 11.91 and a beta of 1.26. Cathay General Bancorp has a 12-month low of $35.51 and a 12-month high of $48.88.
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 7. Shareholders of record on Friday, February 25 received a dividend of $0.34. The ex-dividend date was Thursday, February 24. This represents a dividend of $1.36 on an annualized basis and a dividend yield of 3.00%. Cathay General Bancorp’s payout ratio is 35.79%.
Institutional investors and hedge funds have recently increased or reduced their stake in the company. Price T Rowe Associates Inc. MD increased its position in Cathay General Bancorp shares by 4.8% in the second quarter. Price T Rowe Associates Inc. MD now owns 28,173 shares of the bank valued at $1,109,000 after buying 1,301 additional shares in the last quarter. Invesco Ltd. increased its stake in Cathay General Bancorp by 5.6% during the second quarter. Invesco Ltd. now owns 994,467 shares of the bank worth $39,142,000 after purchasing an additional 52,863 shares in the last quarter. Jefferies Group LLC acquired a new stake in Cathay General Bancorp during Q3 for a value of approximately $240,000. Dynamic Technology Lab Private Ltd increased its stake in Cathay General Bancorp by 196.2% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 19,550 shares in the bank worth $809,000 after buying an additional 12,950 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC increased its stake in Cathay General Bancorp by 18.2% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 59,100 shares of the bank worth $2,446,000 after buying an additional 9,100 shares in the last quarter. 68.62% of the shares are held by institutional investors.
Cathay General Bancorp Company Profile (Get a rating)
Cathay General Bancorp is a holding company that provides financial services. It offers commercial mortgages, commercial loans, small business administration loans, residential mortgages, home construction loans, home equity lines of credit and personal installment loans for the automobile, household and other consumer expenses.
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