DA Davidson Has Negative Forecast for CATY FY2025 Earnings

Cathay General Bancorp (NASDAQ:CATY) – Analysts at DA Davidson dropped their FY2025 EPS estimates for Cathay General Bancorp in a report released on Thursday, December 19th. DA Davidson analyst G. Tenner now forecasts that the bank will post earnings of $4.33 per share for the year, down from their previous estimate of $4.35. The consensus estimate for Cathay General Bancorp’s current full-year earnings is $3.99 per share.

Cathay General Bancorp (NASDAQ:CATY) last issued its quarterly earnings results on Monday, October 21st. The bank reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). Cathay General Bancorp had a net margin of 20.57% and a return on equity of 11.30%. The business had revenue of $359.86 million for the quarter, compared to analysts’ expectations of $182.70 million. During the same period in the previous year, the business posted $1.13 earnings per share.

CATY has been the topic of several other research reports. Wedbush lifted their price objective on shares of Cathay General Bancorp from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Stephens raised shares of Cathay General Bancorp from an “equal weight” rating to an “overweight” rating in a report on Monday, December 9th. Keefe, Bruyette & Woods increased their price objective on Cathay General Bancorp from $45.00 to $56.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, Truist Financial boosted their target price on Cathay General Bancorp from $45.00 to $47.00 and gave the company a “hold” rating in a research note on Friday, September 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $47.75.

Cathay General Bancorp Trading Up 1.0 %

Shares of Cathay General Bancorp stock opened at $47.49 on Monday. The stock has a fifty day moving average price of $49.37 and a 200-day moving average price of $43.79. 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 has a market cap of $3.38 billion, a PE ratio of 11.96 and a beta of 1.12. Cathay General Bancorp has a 1 year low of $33.88 and a 1 year high of $55.29.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Louisiana State Employees Retirement System raised its holdings in shares of Cathay General Bancorp by 1.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 36,600 shares of the bank’s stock valued at $1,381,000 after acquiring an additional 600 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Cathay General Bancorp by 4.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,954 shares of the bank’s stock valued at $602,000 after purchasing an additional 739 shares during the last quarter. IFG Advisory LLC purchased a new position in Cathay General Bancorp in the 2nd quarter worth approximately $384,000. Arizona State Retirement System increased its holdings in shares of Cathay General Bancorp by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 19,327 shares of the bank’s stock worth $729,000 after buying an additional 360 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in shares of Cathay General Bancorp during the 2nd quarter valued at $40,000. Institutional investors own 75.01% of the company’s stock.

Insider Buying and Selling at Cathay General Bancorp

In other Cathay General Bancorp news, EVP Thomas M. Lo sold 900 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $47.00, for a total value of $42,300.00. Following the sale, the executive vice president now directly owns 3,359 shares in the company, valued at $157,873. This represents a 21.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Vice Chairman Peter Wu sold 7,289 shares of the firm’s 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 of the company’s stock, valued at approximately $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 valued at $2,500,047 in the last 90 days. 4.76% of the stock is currently owned by company insiders.

Cathay General Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Wednesday, November 27th were paid a $0.34 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $1.36 dividend on an annualized basis and a yield of 2.86%. Cathay General Bancorp’s dividend payout ratio is 34.26%.

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.