Equities research analysts forecast that Cathay General Bancorp (NASDAQ:CATY) will announce earnings per share (EPS) of $0.94 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Cathay General Bancorp's earnings, with the lowest EPS estimate coming in at $0.91 and the highest estimate coming in at $0.96. Cathay General Bancorp posted earnings of $0.89 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 5.6%. The firm is expected to issue its next earnings results on Wednesday, January 26th.
On average, analysts expect that Cathay General Bancorp will report full-year earnings of $3.76 per share for the current year, with EPS estimates ranging from $3.74 to $3.78. For the next financial year, analysts anticipate that the company will post earnings of $3.77 per share, with EPS estimates ranging from $3.68 to $3.90. Zacks Investment Research's earnings per share calculations are an average based on a survey of research firms that that provide coverage for Cathay General Bancorp.
Cathay General Bancorp (NASDAQ:CATY) last announced its earnings results on Sunday, October 24th. The bank reported $0.93 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.02. Cathay General Bancorp had a return on equity of 12.00% and a net margin of 41.32%. The business had revenue of $164.70 million during the quarter, compared to analysts' expectations of $164.30 million. During the same quarter in the prior year, the firm earned $0.71 earnings per share. The business's revenue was up 2.6% compared to the same quarter last year.
Separately, Zacks Investment Research cut Cathay General Bancorp from a "buy" rating to a "hold" rating in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $46.00.
In other Cathay General Bancorp news, EVP Kim R. Bingham sold 3,000 shares of the firm's stock in a transaction on Friday, October 29th. The stock was sold at an average price of $42.68, for a total transaction of $128,040.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.23% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of the business. Jefferies Group LLC acquired a new stake in Cathay General Bancorp during the third quarter worth $240,000. UBS Asset Management Americas Inc. boosted its position in shares of Cathay General Bancorp by 3.5% during the third quarter. UBS Asset Management Americas Inc. now owns 81,280 shares of the bank's stock worth $3,364,000 after buying an additional 2,786 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Cathay General Bancorp by 3.1% during the third quarter. Bank of New York Mellon Corp now owns 1,224,472 shares of the bank's stock worth $50,681,000 after buying an additional 37,381 shares during the period. Schonfeld Strategic Advisors LLC boosted its position in shares of Cathay General Bancorp by 18.2% during the third quarter. Schonfeld Strategic Advisors LLC now owns 59,100 shares of the bank's stock worth $2,446,000 after buying an additional 9,100 shares during the period. Finally, Captrust Financial Advisors boosted its position in shares of Cathay General Bancorp by 3.0% during the third quarter. Captrust Financial Advisors now owns 23,427 shares of the bank's stock worth $970,000 after buying an additional 684 shares during the period. 68.71% of the stock is owned by institutional investors.
NASDAQ:CATY opened at $46.30 on Friday. Cathay General Bancorp has a one year low of $33.44 and a one year high of $46.46. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market cap of $3.58 billion, a PE ratio of 12.48 and a beta of 1.37. The stock has a 50 day moving average price of $43.71 and a 200 day moving average price of $41.02.
The firm also recently announced a quarterly dividend, which was paid on Thursday, December 9th. Shareholders of record on Monday, November 29th were paid a dividend of $0.44 per share. This is a boost from Cathay General Bancorp's previous quarterly dividend of $0.31. The ex-dividend date was Friday, November 26th. This represents a $1.76 annualized dividend and a yield of 3.80%. Cathay General Bancorp's dividend payout ratio (DPR) is 36.66%.
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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