Cathay General Bancorp (CATY) to Release Quarterly Earnings on Wednesday

Cathay General Bancorp (NASDAQ:CATY) will likely be announcing its earnings results after the market closes on Wednesday, January 22nd. Analysts expect the company to announce earnings of $1.10 per share and revenue of $184,865.20 billion for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

Cathay General Bancorp (NASDAQ:CATY) last announced its earnings results on Monday, October 21st. The bank reported $0.94 earnings per share (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 firm had revenue of $359.86 million during the quarter, compared to analyst estimates of $182.70 million. During the same period in the prior year, the business posted $1.13 EPS. On average, analysts expect Cathay General Bancorp to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Cathay General Bancorp Trading Up 0.8 %

NASDAQ:CATY opened at $48.33 on Monday. The company has a market cap of $3.44 billion, a P/E ratio of 12.17 and a beta of 1.13. Cathay General Bancorp has a twelve month low of $33.88 and a twelve month high of $55.29. The business has a 50 day moving average price of $49.73 and a two-hundred day moving average price of $45.41. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.07.

Cathay General Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Wednesday, November 27th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend was Wednesday, November 27th. Cathay General Bancorp’s dividend payout ratio is presently 34.26%.

Insider Buying and Selling at Cathay General Bancorp

In related news, EVP Thomas M. Lo sold 900 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $47.00, for a total value of $42,300.00. Following the sale, the executive vice president now owns 3,359 shares in the company, valued at approximately $157,873. This represents a 21.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Peter Wu sold 7,289 shares of Cathay General Bancorp stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $47.05, for a total transaction of $342,947.45. Following the transaction, the insider now directly owns 347,963 shares of the company’s stock, valued at approximately $16,371,659.15. This trade represents a 2.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 48,189 shares of company stock worth $2,500,047 over the last quarter. 4.76% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on CATY shares. Stephens upgraded shares of Cathay General Bancorp from an “equal weight” rating to an “overweight” rating in a research note on Monday, December 9th. Wedbush raised their price objective on Cathay General Bancorp from $50.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Finally, Keefe, Bruyette & Woods upped their target price on Cathay General Bancorp from $45.00 to $56.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $47.75.

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.