Cathay General Bancorp (NASDAQ:CATY) Posts Earnings Results, Beats Estimates By $0.03 EPS

Cathay General Bancorp (NASDAQ:CATY - Get Free Report) issued its earnings results on Monday. The bank reported $0.98 EPS for the quarter, beating the consensus estimate of $0.95 by $0.03, Zacks reports. Cathay General Bancorp had a net margin of 20.57% and a return on equity of 10.70%. The company had revenue of $187.84 million during the quarter, compared to analysts' expectations of $186.17 million. During the same period in the previous year, the company earned $1.05 EPS.

Cathay General Bancorp Trading Down 1.1 %

NASDAQ CATY traded down $0.46 on Friday, hitting $42.19. The company's stock had a trading volume of 244,646 shares, compared to its average volume of 353,081. The firm has a market cap of $2.95 billion, a PE ratio of 10.65 and a beta of 0.99. The company's 50-day moving average is $42.39 and its 200 day moving average is $46.27. 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 has a 1-year low of $34.42 and a 1-year high of $55.29.

Cathay General Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Thursday, February 27th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.36 annualized dividend and a yield of 3.22%. Cathay General Bancorp's dividend payout ratio is presently 34.34%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CATY shares. Piper Sandler decreased their price objective on shares of Cathay General Bancorp from $45.00 to $43.00 and set an "underweight" rating on the stock in a research note on Monday, January 27th. Stephens restated an "overweight" rating and set a $51.00 price objective on shares of Cathay General Bancorp in a research report on Tuesday. Finally, Keefe, Bruyette & Woods decreased their target price on Cathay General Bancorp from $56.00 to $55.00 and set a "market perform" rating on the stock in a research report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $49.60.

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.