Equities research analysts forecast that Cathay General Bancorp (NASDAQ:CATY) will report $0.80 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Cathay General Bancorp’s earnings, with the lowest EPS estimate coming in at $0.77 and the highest estimate coming in at $0.82. Cathay General Bancorp reported earnings per share of $0.61 in the same quarter last year, which suggests a positive year over year growth rate of 31.1%. The company is scheduled to report its next quarterly earnings report on Wednesday, April 18th.
According to Zacks, analysts expect that Cathay General Bancorp will report full year earnings of $3.15 per share for the current year, with EPS estimates ranging from $3.10 to $3.22. For the next year, analysts anticipate that the business will post earnings of $3.38 per share, with EPS estimates ranging from $3.30 to $3.43. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that that provide coverage for Cathay General Bancorp.
Cathay General Bancorp (NASDAQ:CATY) last issued its quarterly earnings results on Tuesday, January 30th. The bank reported $0.61 EPS for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.02). The business had revenue of $143.51 million for the quarter, compared to the consensus estimate of $139.43 million. Cathay General Bancorp had a return on equity of 10.47% and a net margin of 28.74%. The business’s revenue was up 21.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.60 earnings per share.
Shares of Cathay General Bancorp (NASDAQ:CATY) traded up $0.49 during trading on Friday, reaching $42.73. The company had a trading volume of 268,289 shares, compared to its average volume of 344,914. The company has a market capitalization of $3,456.56, a price-to-earnings ratio of 19.60, a P/E/G ratio of 1.69 and a beta of 1.38. Cathay General Bancorp has a 1-year low of $34.00 and a 1-year high of $45.59. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.33.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Thursday, March 1st will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend is Wednesday, February 28th. Cathay General Bancorp’s dividend payout ratio is currently 44.04%.
In other Cathay General Bancorp news, EVP Kim R. Bingham sold 3,800 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $44.71, for a total value of $169,898.00. Following the completion of the sale, the executive vice president now directly owns 21,803 shares of the company’s stock, valued at $974,812.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Dunson K. Cheng sold 20,000 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $41.92, for a total value of $838,400.00. Following the completion of the sale, the insider now directly owns 97,124 shares of the company’s stock, valued at $4,071,438.08. The disclosure for this sale can be found here. Insiders sold 116,845 shares of company stock valued at $5,027,674 over the last three months. Company insiders own 5.76% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Prudential Financial Inc. increased its position in Cathay General Bancorp by 4.6% in the third quarter. Prudential Financial Inc. now owns 1,240,295 shares of the bank’s stock worth $49,860,000 after buying an additional 54,780 shares during the last quarter. Legal & General Group Plc increased its position in Cathay General Bancorp by 11.4% in the third quarter. Legal & General Group Plc now owns 65,988 shares of the bank’s stock worth $2,656,000 after buying an additional 6,764 shares during the last quarter. Nordea Investment Management AB increased its position in Cathay General Bancorp by 2.9% in the third quarter. Nordea Investment Management AB now owns 165,400 shares of the bank’s stock worth $6,649,000 after buying an additional 4,600 shares during the last quarter. Empire Life Investments Inc. purchased a new stake in Cathay General Bancorp in the third quarter worth $2,665,000. Finally, ClariVest Asset Management LLC increased its position in Cathay General Bancorp by 3.5% in the third quarter. ClariVest Asset Management LLC now owns 211,600 shares of the bank’s stock worth $8,506,000 after buying an additional 7,200 shares during the last quarter. 67.34% of the stock is owned by institutional investors and hedge funds.
Cathay General Bancorp Company Profile
Cathay General Bancorp is a bank holding company. The Company holds Cathay Bank, a California state-chartered commercial bank (the Bank); seven limited partnerships investing in affordable housing investments; GBC Venture Capital, Inc, and Asia Realty Corp. The Company also owns the common stock of five statutory business trusts created for issuing capital securities.
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