NASDAQ:CATYCathay General Bancorp Stock Price, Forecast & News

Cathay General Bancorp's stock was trading at $23.34 on March 11th, 2020 when COVID-19 (Coronavirus) reached pandemic status according to the World Health Organization (WHO). Since then, CATY stock has increased by 7.4% and is now trading at $25.06. View which stocks have been most impacted by Coronavirus.

4 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Cathay General Bancorp in the last year. There are currently 2 hold ratings and 2 buy ratings for the stock, resulting in a consensus recommendation of "Buy." View analyst ratings for Cathay General Bancorp.

Cathay General Bancorp is scheduled to release its next quarterly earnings announcement on Wednesday, July 15th 2020. View our earnings forecast for Cathay General Bancorp.

Cathay General Bancorp (NASDAQ:CATY) released its quarterly earnings results on Monday, April, 27th. The bank reported $0.59 EPS for the quarter, missing analysts' consensus estimates of $0.67 by $0.08. The bank had revenue of $146.10 million for the quarter, compared to the consensus estimate of $145.95 million. Cathay General Bancorp had a return on equity of 11.46% and a net margin of 32.18%. During the same period in the previous year, the company posted $0.83 earnings per share. View Cathay General Bancorp's earnings history.

Cathay General Bancorp declared a quarterly dividend on Thursday, May 21st. Stockholders of record on Tuesday, June 2nd will be given a dividend of $0.31 per share on Friday, June 12th. This represents a $1.24 dividend on an annualized basis and a yield of 4.95%. The ex-dividend date is Monday, June 1st. View Cathay General Bancorp's dividend history.

Cathay General Bancorp declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, May 7th 2019, which allows the company to buyback $50,000,000.00 in outstanding shares, according to EventVestor. This buyback authorization allows the company to repurchase up to 1.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company's leadership believes its shares are undervalued.

4 equities research analysts have issued 12 month price objectives for Cathay General Bancorp's shares. Their forecasts range from $27.00 to $44.00. On average, they anticipate Cathay General Bancorp's stock price to reach $34.50 in the next year. This suggests a possible upside of 37.7% from the stock's current price. View analysts' price targets for Cathay General Bancorp.

News stories about CATY stock have trended negative recently, InfoTrie Sentiment reports. The research group identifies positive and negative media coverage by monitoring more than six thousand news and blog sources in real time. The firm ranks coverage of public companies on a scale of -5 to 5, with scores nearest to five being the most favorable. Cathay General Bancorp earned a daily sentiment score of -2.1 on InfoTrie's scale. They also gave news headlines about the bank a news buzz of 0.0 out of 10, indicating that recent media coverage is extremely unlikely to have an effect on the company's share price in the near term. View the latest news about Cathay General Bancorp.

Cathay General Bancorp saw a decline in short interest in the month of June. As of June 15th, there was short interest totaling 1,700,000 shares, a decline of 7.6% from the May 31st total of 1,840,000 shares. Based on an average daily volume of 511,700 shares, the days-to-cover ratio is presently 3.3 days. Approximately 2.3% of the company's stock are sold short. View Cathay General Bancorp's Current Options Chain.

Some companies that are related to Cathay General Bancorp include Truist Financial (TFC), PNC Financial Services Group (PNC), First Republic Bank (FRC), Fifth Third Bancorp (FITB), M&T Bank (MTB), KeyCorp (KEY), SVB Financial Group (SIVB), Regions Financial (RF), Huntington Bancshares (HBAN), Commerce Bancshares (CBSH), Signature Bank (SBNY), Zions Bancorporation NA (ZION), Prosperity Bancshares (PB), East West Bancorp (EWBC) and Cullen/Frost Bankers (CFR). View all competitors.

Based on aggregate information from My MarketBeat watchlists, some companies that other Cathay General Bancorp investors own include Energy Transfer LP Unit (ET), Ford Motor (F), Pfizer (PFE), Verizon Communications (VZ), Broadcom (AVGO), Bank of America (BAC), CBL & Associates Properties (CBL), Enterprise Products Partners (EPD), Gilead Sciences (GILD) and AT&T (T).

Cathay General Bancorp trades on the NASDAQ under the ticker symbol "CATY."

Shares of CATY can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.

One share of CATY stock can currently be purchased for approximately $25.06.

Cathay General Bancorp has a market capitalization of $1.99 billion and generates $814.02 million in revenue each year. The bank earns $279.14 million in net income (profit) each year or $3.48 on an earnings per share basis. Cathay General Bancorp employs 1,219 workers across the globe.

The official website for Cathay General Bancorp is www.cathaybank.com.

Cathay General Bancorp's mailing address is 777 N BROADWAY, LOS ANGELES CA, 90012. The bank can be reached via phone at 213-625-4700 or via email at [email protected]