Brokerages predict that Cathay General Bancorp (NASDAQ:CATY) will post sales of $140.07 million for the current quarter, according to Zacks. Three analysts have made estimates for Cathay General Bancorp’s earnings, with estimates ranging from $139.20 million to $141.00 million. Cathay General Bancorp posted sales of $117.86 million during the same quarter last year, which would indicate a positive year over year growth rate of 18.8%. The company is expected to report its next earnings report on Wednesday, January 24th.
On average, analysts expect that Cathay General Bancorp will report full year sales of $140.07 million for the current financial year, with estimates ranging from $524.00 million to $529.00 million. For the next financial year, analysts expect that the business will report sales of $586.13 million per share, with estimates ranging from $578.20 million to $596.00 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that cover Cathay General Bancorp.
Cathay General Bancorp (NASDAQ:CATY) last issued its quarterly earnings data on Wednesday, October 25th. The bank reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.01. The firm had revenue of $146.20 million for the quarter, compared to analyst estimates of $135.27 million. Cathay General Bancorp had a net margin of 33.87% and a return on equity of 10.60%. Cathay General Bancorp’s revenue was up 29.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.58 EPS.
Several analysts recently issued reports on CATY shares. BMO Capital Markets boosted their price objective on shares of Cathay General Bancorp from $44.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, November 3rd. Zacks Investment Research upgraded shares of Cathay General Bancorp from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a report on Wednesday, October 11th. Sandler O’Neill restated a “hold” rating and issued a $45.00 price objective on shares of Cathay General Bancorp in a report on Thursday. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $43.00 price objective on shares of Cathay General Bancorp in a report on Friday, October 6th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $43.50.
Shares of Cathay General Bancorp (CATY) traded up $0.08 on Monday, reaching $42.65. 252,552 shares of the company traded hands, compared to its average volume of 366,000. The stock has a market cap of $3,440.51, a price-to-earnings ratio of 17.34, a P/E/G ratio of 1.92 and a beta of 1.35. Cathay General Bancorp has a 12-month low of $34.00 and a 12-month high of $45.54. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.05 and a current ratio of 1.05.
The firm also recently declared a quarterly dividend, which was paid on Monday, December 11th. Shareholders of record on Friday, December 1st were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, November 30th. This is a positive change from Cathay General Bancorp’s previous quarterly dividend of $0.21. This represents a $0.96 dividend on an annualized basis and a yield of 2.25%. Cathay General Bancorp’s dividend payout ratio is 39.02%.
In other Cathay General Bancorp news, COO Irwin Wong sold 10,000 shares of the business’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $43.10, for a total transaction of $431,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Dunson K. Cheng sold 50,000 shares of the business’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $42.45, for a total transaction of $2,122,500.00. Following the sale, the insider now owns 119,591 shares in the company, valued at $5,076,637.95. The disclosure for this sale can be found here. Insiders have sold 66,059 shares of company stock worth $2,807,978 over the last quarter. Insiders own 5.76% of the company’s stock.
Large investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Cathay General Bancorp by 9.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,029 shares of the bank’s stock worth $115,000 after purchasing an additional 252 shares during the period. Flinton Capital Management LLC increased its stake in Cathay General Bancorp by 65.9% during the second quarter. Flinton Capital Management LLC now owns 3,584 shares of the bank’s stock worth $136,000 after purchasing an additional 1,424 shares during the period. Riverhead Capital Management LLC increased its stake in Cathay General Bancorp by 63.5% during the second quarter. Riverhead Capital Management LLC now owns 3,924 shares of the bank’s stock worth $149,000 after purchasing an additional 1,524 shares during the period. Allianz Asset Management GmbH purchased a new stake in Cathay General Bancorp during the third quarter worth about $206,000. Finally, Narus Financial Partners LLC purchased a new stake in Cathay General Bancorp during the third quarter worth about $207,000. Institutional investors own 67.47% of the company’s stock.
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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.
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