Cathay General Bancorp (CATY) Scheduled to Post Quarterly Earnings on Monday

Cathay General Bancorp (NASDAQ:CATY - Get Free Report) is scheduled to release its earnings data after the market closes on Monday, April 22nd. Analysts expect Cathay General Bancorp to post earnings of $1.02 per share for the quarter. Persons that are interested in registering for the company's earnings conference call can do so using this link.

Cathay General Bancorp (NASDAQ:CATY - Get Free Report) last released its earnings results on Wednesday, January 24th. The bank reported $1.25 EPS for the quarter, beating the consensus estimate of $1.10 by $0.15. The company had revenue of $205.24 million during the quarter, compared to analysts' expectations of $197.95 million. Cathay General Bancorp had a return on equity of 13.89% and a net margin of 27.02%. On average, analysts expect Cathay General Bancorp to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Cathay General Bancorp Stock Performance

Shares of CATY stock traded down $0.17 on Monday, hitting $35.07. 528,215 shares of the stock traded hands, compared to its average volume of 354,515. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market capitalization of $2.55 billion, a PE ratio of 7.22 and a beta of 1.12. Cathay General Bancorp has a 1-year low of $27.24 and a 1-year high of $45.72. The company's fifty day moving average is $38.41 and its 200 day moving average is $38.79.

Cathay General Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Wednesday, February 28th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 3.88%. The ex-dividend date was Tuesday, February 27th. Cathay General Bancorp's dividend payout ratio is currently 27.98%.

Insiders Place Their Bets

In other news, Vice Chairman Anthony M. Tang sold 7,000 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $43.45, for a total value of $304,150.00. Following the completion of the transaction, the insider now owns 204,500 shares of the company's stock, valued at $8,885,525. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 4.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CATY. PNC Financial Services Group Inc. grew its stake in shares of Cathay General Bancorp by 29.3% in the first quarter. PNC Financial Services Group Inc. now owns 12,156 shares of the bank's stock worth $543,000 after purchasing an additional 2,754 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Cathay General Bancorp by 8.4% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,762 shares of the bank's stock valued at $1,242,000 after buying an additional 2,159 shares in the last quarter. Great West Life Assurance Co. Can boosted its stake in Cathay General Bancorp by 8.8% during the first quarter. Great West Life Assurance Co. Can now owns 43,851 shares of the bank's stock valued at $2,014,000 after buying an additional 3,548 shares in the last quarter. Yousif Capital Management LLC boosted its stake in Cathay General Bancorp by 1.7% during the first quarter. Yousif Capital Management LLC now owns 40,851 shares of the bank's stock valued at $1,828,000 after buying an additional 666 shares in the last quarter. Finally, Aviva PLC bought a new position in Cathay General Bancorp during the first quarter valued at about $2,136,000. Institutional investors own 75.01% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CATY shares. Truist Financial dropped their price target on Cathay General Bancorp from $46.00 to $40.00 and set a "hold" rating on the stock in a research report on Monday, April 1st. StockNews.com lowered Cathay General Bancorp from a "hold" rating to a "sell" rating in a research report on Saturday, April 6th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $38.20.

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.