DA Davidson Has Positive Estimate for CATY FY2025 Earnings

Cathay General Bancorp (NASDAQ:CATY - Free Report) - Equities research analysts at DA Davidson increased their FY2025 EPS estimates for shares of Cathay General Bancorp in a report issued on Thursday, May 1st. DA Davidson analyst G. Tenner now forecasts that the bank will post earnings of $4.48 per share for the year, up from their prior forecast of $4.38. The consensus estimate for Cathay General Bancorp's current full-year earnings is $4.47 per share. DA Davidson also issued estimates for Cathay General Bancorp's FY2026 earnings at $4.91 EPS.

Other equities analysts have also issued reports about the company. Keefe, Bruyette & Woods reduced 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 report 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 on the stock in a report on Monday, January 27th. Finally, Stephens reiterated an "overweight" rating and set a $51.00 target price on shares of Cathay General Bancorp in a report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $49.60.

Cathay General Bancorp Trading Down 0.5 %

Shares of CATY traded down $0.21 during mid-day trading on Monday, reaching $43.22. The company's stock had a trading volume of 29,873 shares, compared to its average volume of 352,828. The company's fifty day moving average price is $41.66 and its two-hundred day moving average price is $46.11. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.07. Cathay General Bancorp has a 52 week low of $34.75 and a 52 week high of $55.29. The stock has a market cap of $3.03 billion, a PE ratio of 10.91 and a beta of 0.91.

Cathay General Bancorp (NASDAQ:CATY - Get Free Report) last released its quarterly earnings results on Monday, April 21st. The bank reported $0.98 earnings per share for the quarter, beating analysts' consensus estimates of $0.95 by $0.03. The business had revenue of $187.84 million for the quarter, compared to the consensus estimate of $186.17 million. Cathay General Bancorp had a return on equity of 10.70% and a net margin of 20.57%. During the same quarter last year, the business posted $1.05 earnings per share.

Cathay General Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Thursday, February 27th were paid a dividend of $0.34 per share. The ex-dividend date was Thursday, February 27th. This represents a $1.36 annualized dividend and a yield of 3.15%. Cathay General Bancorp's dividend payout ratio is 34.34%.

Institutional Trading of Cathay General Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of the business. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in Cathay General Bancorp by 11.6% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 27,430 shares of the bank's stock worth $1,180,000 after buying an additional 2,855 shares during the last quarter. Vestcor Inc purchased a new position in shares of Cathay General Bancorp during the first quarter valued at approximately $214,000. Meeder Asset Management Inc. purchased a new position in shares of Cathay General Bancorp during the first quarter valued at approximately $46,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Cathay General Bancorp by 2.1% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,023 shares of the bank's stock valued at $905,000 after purchasing an additional 442 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in Cathay General Bancorp by 1.3% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 97,574 shares of the bank's stock worth $4,199,000 after purchasing an additional 1,226 shares during the last quarter. Institutional investors own 75.01% of the company's stock.

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.