Cathay General Bancorp (NASDAQ:CATY) has earned a consensus rating of "Hold" from the six research firms that are covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $45.00.
Several research analysts recently issued reports on the stock. Truist Securities upped their target price on shares of Cathay General Bancorp from $40.00 to $44.00 and gave the stock a "hold" rating in a research report on Monday. Truist increased their price objective on Cathay General Bancorp from $40.00 to $44.00 and gave the company a "hold" rating in a research report on Monday. Zacks Investment Research cut Cathay General Bancorp from a "buy" rating to a "hold" rating in a report on Monday, August 23rd. Finally, DA Davidson reaffirmed a "neutral" rating on shares of Cathay General Bancorp in a research note on Wednesday, July 28th.
A number of institutional investors have recently modified their holdings of CATY. First Horizon Advisors Inc. boosted its position in Cathay General Bancorp by 91.5% during the 1st quarter. First Horizon Advisors Inc. now owns 653 shares of the bank's stock valued at $26,000 after acquiring an additional 312 shares in the last quarter. Meeder Asset Management Inc. boosted its position in shares of Cathay General Bancorp by 114.7% during the first quarter. Meeder Asset Management Inc. now owns 659 shares of the bank's stock valued at $27,000 after purchasing an additional 352 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in Cathay General Bancorp in the first quarter worth $31,000. Dark Forest Capital Management LP purchased a new stake in Cathay General Bancorp in the second quarter worth $32,000. Finally, Quantbot Technologies LP bought a new position in Cathay General Bancorp in the first quarter worth $53,000. 65.30% of the stock is currently owned by institutional investors and hedge funds.
Shares of CATY traded down $0.45 during midday trading on Monday, hitting $39.86. 7,315 shares of the company traded hands, compared to its average volume of 338,141. Cathay General Bancorp has a one year low of $20.59 and a one year high of $45.19. The firm has a market cap of $3.12 billion, a price-to-earnings ratio of 11.43 and a beta of 1.50. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.05 and a current ratio of 1.05. The stock's 50-day moving average is $38.64.
Cathay General Bancorp (NASDAQ:CATY) last posted its quarterly earnings data on Sunday, July 25th. The bank reported $0.97 earnings per share (EPS) for the quarter, beating the Thomson Reuters' consensus estimate of $0.83 by $0.14. Cathay General Bancorp had a return on equity of 11.47% and a net margin of 39.05%. On average, equities research analysts predict that Cathay General Bancorp will post 3.69 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 9th. Shareholders of record on Monday, August 30th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend is Friday, August 27th. Cathay General Bancorp's dividend payout ratio (DPR) is currently 43.21%.
Cathay General Bancorp Company Profile
Cathay General Bancorp is a holding company, which engages in the provision of financial services. It offers commercial mortgage loans, commercial loans, small business administration loans, residential mortgage loans, real estate construction loans, home equity lines of credit, and installment loans to individuals for automobile, household, and other consumer expenditures.
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