Cathay General Bancorp (NASDAQ:CATY) Receives Consensus Rating of “Hold” from Analysts

Shares of Cathay General Bancorp (NASDAQ:CATY) have earned a consensus rating of “Hold” from the five analysts that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has given a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $39.00.

A number of analysts recently weighed in on the stock. StockNews.com lowered shares of Cathay General Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, June 11th. Keefe, Bruyette & Woods lowered their price objective on shares of Cathay General Bancorp from $46.00 to $41.00 and set a “market perform” rating for the company in a research note on Tuesday, April 23rd. Wedbush reaffirmed an “outperform” rating and issued a $44.00 price objective on shares of Cathay General Bancorp in a research note on Tuesday, April 23rd. Finally, Truist Financial lowered their price objective on shares of Cathay General Bancorp from $40.00 to $38.00 and set a “hold” rating for the company in a research note on Thursday, April 25th.

Cathay General Bancorp Trading Down 0.8 %

NASDAQ CATY opened at $36.05 on Friday. The company’s 50-day moving average price is $36.18 and its 200-day moving average price is $39.02. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 0.14. The stock has a market cap of $2.62 billion, a PE ratio of 7.98 and a beta of 1.13. Cathay General Bancorp has a 12 month low of $31.00 and a 12 month high of $45.72.

Cathay General Bancorp (NASDAQ:CATY) last posted its quarterly earnings results on Monday, April 22nd. The bank reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.04). The company had revenue of $339.25 million during the quarter, compared to the consensus estimate of $188.85 million. Cathay General Bancorp had a return on equity of 13.02% and a net margin of 24.41%. During the same quarter in the previous year, the company posted $1.32 earnings per share. Equities research analysts forecast that Cathay General Bancorp will post 3.94 earnings per share for the current year.

Cathay General Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Thursday, May 30th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 3.77%. The ex-dividend date was Thursday, May 30th. Cathay General Bancorp’s payout ratio is 30.09%.

Institutional Trading of Cathay General Bancorp

Hedge funds have recently modified their holdings of the company. GAMMA Investing LLC purchased a new stake in shares of Cathay General Bancorp during the fourth quarter valued at about $51,000. Bessemer Group Inc. raised its position in shares of Cathay General Bancorp by 16.6% in the 1st quarter. Bessemer Group Inc. now owns 3,675 shares of the bank’s stock valued at $139,000 after purchasing an additional 523 shares during the last quarter. Headlands Technologies LLC raised its position in shares of Cathay General Bancorp by 12,039.0% in the 1st quarter. Headlands Technologies LLC now owns 4,977 shares of the bank’s stock valued at $188,000 after purchasing an additional 4,936 shares during the last quarter. TFO Wealth Partners LLC raised its position in shares of Cathay General Bancorp by 22,160.0% in the 4th quarter. TFO Wealth Partners LLC now owns 4,452 shares of the bank’s stock valued at $198,000 after purchasing an additional 4,432 shares during the last quarter. Finally, Sciencast Management LP purchased a new position in shares of Cathay General Bancorp in the 1st quarter valued at approximately $206,000. 75.01% of the stock is owned by hedge funds and other institutional investors.

Cathay General Bancorp Company Profile

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.