Cathay General Bancorp (NASDAQ:CATY) to Issue Quarterly Dividend of $0.34

Cathay General Bancorp (NASDAQ:CATY - Get Free Report) announced a quarterly dividend on Thursday, May 16th, Zacks reports. Investors of record on Thursday, May 30th will be paid a dividend of 0.34 per share by the bank on Monday, June 10th. This represents a $1.36 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend is Thursday, May 30th.

Cathay General Bancorp has increased its dividend payment by an average of 3.1% per year over the last three years.

Cathay General Bancorp Stock Down 0.5 %

Shares of CATY traded down $0.18 during mid-day trading on Friday, hitting $37.91. 331,547 shares of the company's stock were exchanged, compared to its average volume of 315,530. The stock has a market cap of $2.76 billion, a price-to-earnings ratio of 8.39 and a beta of 1.12. The firm has a fifty day moving average of $36.76 and a two-hundred day moving average of $39.09. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 0.14. Cathay General Bancorp has a twelve month low of $28.95 and a twelve month high of $45.72.

Cathay General Bancorp (NASDAQ:CATY - Get Free Report) last posted its earnings results on Monday, April 22nd. The bank reported $0.98 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.04). The business had revenue of $339.25 million for the quarter, compared to analyst estimates of $188.85 million. Cathay General Bancorp had a return on equity of 13.02% and a net margin of 24.41%. During the same period in the previous year, the company earned $1.32 earnings per share. On average, sell-side analysts forecast that Cathay General Bancorp will post 3.94 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on CATY shares. Keefe, Bruyette & Woods cut their price objective on Cathay General Bancorp from $46.00 to $41.00 and set a "market perform" rating for the company in a research report on Tuesday, April 23rd. Truist Financial reduced their price objective on Cathay General Bancorp from $40.00 to $38.00 and set a "hold" rating for the company in a research report on Thursday, April 25th. Wedbush reaffirmed an "outperform" rating and set a $44.00 target price on shares of Cathay General Bancorp in a research report on Tuesday, April 23rd. Finally, StockNews.com downgraded shares of Cathay General Bancorp from a "hold" rating to a "sell" rating in a report on Saturday, April 6th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Cathay General Bancorp has a consensus rating of "Hold" and a consensus target price of $39.00.

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.