Cathay General Bancorp (CATY) Plans Quarterly Dividend of $0.24

Cathay General Bancorp (NASDAQ:CATY) declared a quarterly dividend on Thursday, November 16th, RTT News reports. Shareholders of record on Friday, December 1st will be paid a dividend of 0.24 per share by the bank on Monday, December 11th. This represents a $0.96 dividend on an annualized basis and a yield of 2.36%. This is an increase from Cathay General Bancorp’s previous quarterly dividend of $0.21.

Cathay General Bancorp (NASDAQ:CATY) opened at $40.67 on Friday. Cathay General Bancorp has a 52-week low of $34.00 and a 52-week high of $42.64. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market capitalization of $3,241.69, a PE ratio of 16.11, a price-to-earnings-growth ratio of 2.01 and a beta of 1.34.

Cathay General Bancorp (NASDAQ:CATY) last released its quarterly earnings results on Wednesday, October 25th. The bank reported $0.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.01. Cathay General Bancorp had a net margin of 33.87% and a return on equity of 10.60%. The firm had revenue of $146.20 million during the quarter, compared to analyst estimates of $135.27 million. During the same quarter in the prior year, the firm earned $0.58 EPS. The business’s revenue for the quarter was up 29.8% compared to the same quarter last year. equities analysts forecast that Cathay General Bancorp will post 2.49 earnings per share for the current year.

Several equities research analysts have recently commented on CATY shares. BMO Capital Markets upped their price target on shares of Cathay General Bancorp from $44.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, November 3rd. Zacks Investment Research raised shares of Cathay General Bancorp from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a report on Monday, October 30th. Piper Jaffray Companies reissued a “buy” rating and issued a $43.00 target price on shares of Cathay General Bancorp in a report on Friday, September 1st. SunTrust Banks, Inc. initiated coverage on shares of Cathay General Bancorp in a report on Friday, August 18th. They issued a “hold” rating and a $39.00 target price for the company. Finally, Royal Bank Of Canada increased their target price on shares of Cathay General Bancorp from $35.00 to $43.00 and gave the stock an “outperform” rating in a report on Thursday, July 20th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $42.14.

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Cathay General Bancorp Company Profile

Cathay General Bancorp is a bank holding company. The Company holds Cathay Bank, a California state-chartered commercial bank (the Bank); seven limited partnerships investing in affordable housing investments; GBC Venture Capital, Inc, and Asia Realty Corp. The Company also owns the common stock of five statutory business trusts created for issuing capital securities.

Dividend History for Cathay General Bancorp (NASDAQ:CATY)

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