DA Davidson Issues Pessimistic Estimate for CATY Earnings

Cathay General Bancorp (NASDAQ:CATY) – Stock analysts at DA Davidson reduced their FY2025 earnings per share (EPS) estimates for shares of Cathay General Bancorp in a research report issued on Wednesday, April 2nd. DA Davidson analyst G. Tenner now forecasts that the bank will post earnings of $4.38 per share for the year, down from their previous forecast of $4.40. The consensus estimate for Cathay General Bancorp’s current full-year earnings is $4.47 per share.

Several other equities analysts have also commented on the company. Keefe, Bruyette & Woods decreased their price target on Cathay General Bancorp from $56.00 to $55.00 and set a “market perform” rating on the stock in a research note on Thursday, January 23rd. Piper Sandler reduced their target price on Cathay General Bancorp from $45.00 to $43.00 and set an “underweight” rating for the company in a report on Monday, January 27th. Finally, Stephens decreased their price target on Cathay General Bancorp from $60.00 to $57.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $50.80.

Cathay General Bancorp Stock Performance

CATY opened at $38.10 on Friday. The firm’s fifty day simple moving average is $45.02 and its two-hundred day simple moving average is $46.67. Cathay General Bancorp has a 52-week low of $33.88 and a 52-week high of $55.29. The company has a market cap of $2.68 billion, a price-to-earnings ratio of 9.62 and a beta of 0.99. 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 (NASDAQ:CATY) last posted its quarterly earnings data on Wednesday, January 22nd. The bank reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.02. Cathay General Bancorp had a return on equity of 10.70% and a net margin of 20.57%.

Hedge Funds Weigh In On Cathay General Bancorp

A number of institutional investors have recently modified their holdings of CATY. Dimensional Fund Advisors LP grew its stake in Cathay General Bancorp by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,230,722 shares of the bank’s stock worth $201,426,000 after acquiring an additional 12,684 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Cathay General Bancorp by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,861,501 shares of the bank’s stock valued at $136,236,000 after purchasing an additional 102,724 shares during the period. Geode Capital Management LLC increased its stake in Cathay General Bancorp by 1.2% in the third quarter. Geode Capital Management LLC now owns 1,713,650 shares of the bank’s stock valued at $73,615,000 after purchasing an additional 20,840 shares during the last quarter. Invesco Ltd. lifted its position in Cathay General Bancorp by 6.0% during the fourth quarter. Invesco Ltd. now owns 1,519,442 shares of the bank’s stock worth $72,341,000 after buying an additional 85,963 shares during the period. Finally, American Century Companies Inc. boosted its stake in Cathay General Bancorp by 5.2% in the 4th quarter. American Century Companies Inc. now owns 1,471,066 shares of the bank’s stock worth $70,037,000 after buying an additional 72,532 shares during the last quarter. Institutional investors and hedge funds own 75.01% of the company’s stock.

Cathay General Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Thursday, February 27th were issued a dividend of $0.34 per share. The ex-dividend date was Thursday, February 27th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.57%. Cathay General Bancorp’s dividend payout ratio (DPR) is presently 34.34%.

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.