Research Analysts Issue Forecasts for CATY FY2025 Earnings

Cathay General Bancorp (NASDAQ:CATY) – Stock analysts at DA Davidson boosted their FY2025 EPS estimates for shares of Cathay General Bancorp in a research report issued on Thursday, January 23rd. DA Davidson analyst G. Tenner now expects that the bank will post earnings of $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) last announced its quarterly earnings data on Wednesday, January 22nd. The bank reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.02. Cathay General Bancorp had a return on equity of 10.75% and a net margin of 20.57%.

A number of other research analysts have also recently issued reports on CATY. Wedbush boosted their price objective on shares of Cathay General Bancorp from $50.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. 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, January 23rd. Stephens lowered their price objective on shares of Cathay General Bancorp from $60.00 to $57.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. Finally, Piper Sandler reduced their target price on Cathay General Bancorp from $45.00 to $43.00 and set an “underweight” rating on the stock in a report on Monday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Cathay General Bancorp has a consensus rating of “Hold” and an average price target of $50.80.

Cathay General Bancorp Price Performance

Cathay General Bancorp stock opened at $47.30 on Monday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $3.37 billion, a P/E ratio of 11.94 and a beta of 1.13. The business has a 50-day moving average of $49.17 and a 200-day moving average of $45.91. Cathay General Bancorp has a 1 year low of $33.88 and a 1 year high of $55.29.

Cathay General Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Wednesday, November 27th were issued a $0.34 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $1.36 annualized dividend and a dividend yield of 2.88%. Cathay General Bancorp’s dividend payout ratio is currently 34.34%.

Insider Activity

In other Cathay General Bancorp news, Vice Chairman Peter Wu sold 40,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $52.87, for a total transaction of $2,114,800.00. Following the transaction, the insider now owns 295,252 shares in the company, valued at $15,609,973.24. This trade represents a 11.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.76% of the company’s stock.

Institutional Trading of Cathay General Bancorp

Large investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its stake in Cathay General Bancorp by 3.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,758,777 shares of the bank’s stock worth $118,489,000 after purchasing an additional 87,847 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Cathay General Bancorp by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,713,650 shares of the bank’s stock worth $73,615,000 after buying an additional 20,840 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Cathay General Bancorp by 821.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 381,764 shares of the bank’s stock worth $18,176,000 after buying an additional 340,329 shares during the last quarter. Stieven Capital Advisors L.P. boosted its stake in Cathay General Bancorp by 39.3% in the third quarter. Stieven Capital Advisors L.P. now owns 256,404 shares of the bank’s stock valued at $11,013,000 after buying an additional 72,300 shares in the last quarter. Finally, Foundry Partners LLC bought a new position in Cathay General Bancorp in the third quarter valued at about $7,493,000. 75.01% of the stock is owned by institutional investors and hedge funds.

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.