NASDAQ:CATYCathay General Bancorp Stock Price, Forecast & News

$28.36

+1.72 (+6.46 %)

(As of 06/3/2020 12:46 PM ET)

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Today's Range

$27.55

Now: $28.36▼

$28.53

50-Day Range

$21.97

MA: $25.04▼

$28.90

52-Week Range

$17.58

Now: $28.36▼

$38.91

Volume13,399 shs

Average Volume420,073 shs

Market Capitalization$2.26 billion

P/E Ratio8.75

Dividend Yield4.62%

Beta1.47

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. It also provides loan products, such as commercial mortgage loans, commercial loans, small business administration loans, residential mortgage loans, real estate construction loans, and home equity lines of credit, as well as installment loans to individuals for automobile, household, and other consumer expenditures. In addition, the company offers letter of credit, wire transfer, forward currency spot and forward contract, traveler's check, safe deposit, night deposit, social security payment deposit, collection, bank-by-mail, drive-up and walk-up window, automatic teller machine, Internet banking, trade financing, and other customary bank services, as well as securities and insurance products. As of December 31, 2018, it operated 26 branches in Southern California; 14 branches in Northern California; 11 branches in New York; 3 branches in Illinois area; 4 branches in Washington; 2 branches in Texas; and 1 each branch in Maryland, Massachusetts, Nevada, New Jersey, and Hong Kong, as well as 1 representative office in Taipei and Shanghai. The company was founded in 1962 and is headquartered in Los Angeles, California.

Beat the Market (BTM) Rank^™

3.3 Analyst's Opinion

Consensus Rating
Cathay General Bancorp has received a consensus rating of Buy. The company's average rating score is 2.67, and is based on 2 buy ratings, 1 hold rating, and no sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $36.67, Cathay General Bancorp has a potential upside of 29.3% from its current price of $28.36.
Amount of Analyst Coverage
Cathay General Bancorp has only been the subject of 1 research reports in the past 90 days.

2.4 Community Rank

Outperform Votes
Cathay General Bancorp has received 316 “outperform” votes. (Add your “outperform” vote.)
Underperform Votes
Cathay General Bancorp has received 351 “underperform” votes. (Add your “underperform” vote.)
Community Sentiment
Cathay General Bancorp has received 52.62% “underperform” votes from our community.

MarketBeat's community ratings are surveys of what our community members think about Cathay General Bancorp and other stocks. Vote “Outperform” if you believe CATY will outperform the S&P 500 over the long term. Vote “Underperform” if you believe CATY will underperform the S&P 500 over the long term. You may vote once every thirty days.

4.2 Dividend Strength

Dividend Leadership
Cathay General Bancorp is a leading dividend payer. It pays a dividend yield of 4.62%, putting its dividend yield in the top 25% of dividend-paying stocks.
Dividend Growth
Cathay General Bancorp has been increasing its dividend for 7 years.
Dividend Coverage
The dividend payout ratio of Cathay General Bancorp is 35.63 %. This payout ratio is at a healthy, sustainable level, below 75%.
Dividend Sustainability
Based on earnings estimates, Cathay General Bancorp will have a dividend payout ratio of 48.63 % next year. This indicates that Cathay General Bancorp will be able to sustain or increase its dividend.

1.0 Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Cathay General Bancorp insiders have not sold or bought any company stock.
Percentage Held by Insiders
Only 4.73% of the stock of Cathay General Bancorp is held by insiders.
Percentage Held by Institutions
69.91% of the stock of Cathay General Bancorp is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

2.5 Earnings and Valuation

Earnings Growth
Earnings for Cathay General Bancorp are expected to grow by 7.14% in the coming year, from $2.38 to $2.55 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Cathay General Bancorp is 8.75, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 16.05.
Price to Earnings Ratio vs. Sector
The P/E ratio of Cathay General Bancorp is 8.75, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 19.55.
Price to Book Value per Share Ratio
Cathay General Bancorp has a P/B Ratio of 0.99. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

Overall Beat the Market Rank^™

2.68 out of 5 stars

Industry, Sector and Symbol

Stock Exchange NASDAQ

Industry State commercial banks

Sub-IndustryRegional Banks

SectorFinance

Current SymbolNASDAQ:CATY

Previous Symbol

CUSIP14915010

CIK861842

Webwww.cathaybank.com

Phone213-625-4700

Debt

Debt-to-Equity Ratio0.28

Current Ratio1.06

Quick Ratio1.06

Price-To-Earnings

Trailing P/E Ratio8.75

Forward P/E Ratio11.92

P/E GrowthN/A

Sales & Book Value

Annual Sales$814.02 million

Price / Sales2.77

Cash Flow$4.48 per share

Price / Cash Flow6.33

Book Value$28.78 per share

Price / Book0.99

Profitability

EPS (Most Recent Fiscal Year)$3.48

Net Income$279.14 million

Net Margins32.18%

Return on Equity11.46%

Return on Assets1.44%

Miscellaneous

Employees1,219

Outstanding Shares79,560,000

Market Cap$2.26 billion

Next Earnings Date7/15/2020 (Estimated)

OptionableOptionable

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Cathay General Bancorp (NASDAQ:CATY) Frequently Asked Questions

How has Cathay General Bancorp's stock been impacted by COVID-19 (Coronavirus)?

Cathay General Bancorp's stock was trading at $23.34 on March 11th, 2020 when Coronavirus reached pandemic status according to the World Health Organization. Since then, CATY shares have increased by 21.5% and is now trading at $28.36. View which stocks have been most impacted by Coronavirus.

Do Wall Street analysts recommend investors buy shares of Cathay General Bancorp?

3 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Cathay General Bancorp in the last year. There are currently 1 hold rating and 2 buy ratings for the stock, resulting in a consensus recommendation of "Buy." View analyst ratings for Cathay General Bancorp.

When is Cathay General Bancorp's next earnings date?

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.

How were Cathay General Bancorp's earnings last quarter?

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

How often does Cathay General Bancorp pay dividends? What is the dividend yield for Cathay General Bancorp?

Cathay General Bancorp declared a quarterly dividend on Thursday, May 21st. Investors 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 4.37%. The ex-dividend date is Monday, June 1st. View Cathay General Bancorp's dividend history.

How will Cathay General Bancorp's stock buyback program work?

Cathay General Bancorp declared that its board has authorized a stock buyback plan on Tuesday, May 7th 2019, which authorizes the company to buyback $50,000,000.00 in outstanding shares, according to EventVestor. This buyback authorization authorizes the company to purchase up to 1.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's leadership believes its stock is undervalued.

What price target have analysts set for CATY?

3 equities research analysts have issued 1-year 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 share price to reach $36.67 in the next twelve months. This suggests a possible upside of 29.3% from the stock's current price. View analysts' price targets for Cathay General Bancorp.

Has Cathay General Bancorp been receiving favorable news coverage?

News coverage about CATY stock has been trending somewhat positive on Wednesday, according to InfoTrie Sentiment Analysis. The research group scores the sentiment of news coverage by reviewing more than six thousand news and blog sources. 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 1.7 on InfoTrie's scale. They also assigned media headlines about the bank a news buzz of 6.0 out of 10, meaning that recent news coverage is somewhat likely to have an effect on the stock's share price in the immediate future. View the latest news aboutCathay General Bancorp.

Who are some of Cathay General Bancorp's key competitors?

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

What other stocks do shareholders of Cathay General Bancorp own?

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).

Who are Cathay General Bancorp's key executives?

Cathay General Bancorp's management team includes the following people:

Mr. Dunson K. Cheng, Exec. Chairman (Age 74)
Mr. Pin Tai, CEO, Pres & Director (Age 65)
Mr. Heng W. Chen, Exec. VP, Treasurer & CFO (Age 66)
Mr. Irwin Wong, Sr. Exec. VP & Chief Admin. Officer of Cathay Bank (Age 70)
Mr. Kim R. Bingham, Exec. VP & Chief Risk Officer of Cathay Bank (Age 62)

What is Cathay General Bancorp's stock symbol?

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

Who are Cathay General Bancorp's major shareholders?

Cathay General Bancorp's stock is owned by a number of retail and institutional investors. Top institutional investors include BlackRock Inc. (13.01%), Principal Financial Group Inc. (4.24%), State Street Corp (3.62%), Nuveen Asset Management LLC (2.22%), Massachusetts Financial Services Co. MA (1.82%) and Victory Capital Management Inc. (1.70%). Company insiders that own Cathay General Bancorp stock include Anthony M Tang, Dunson K Cheng, Irwin Wong, Jane H Jelenko, Kelly L Chan, Kim R Bingham and Lisa L Kim. View institutional ownership trends for Cathay General Bancorp.

Which institutional investors are selling Cathay General Bancorp stock?

CATY stock was sold by a variety of institutional investors in the last quarter, including Nuveen Asset Management LLC, BlackRock Inc., Morgan Stanley, UBS Group AG, Invesco Ltd., Bank of New York Mellon Corp, Chicago Equity Partners LLC, and GW&K Investment Management LLC. Company insiders that have sold Cathay General Bancorp company stock in the last year include Anthony M Tang, Dunson K Cheng, Jane H Jelenko, Kim R Bingham, and Lisa L Kim. View insider buying and selling activity for Cathay General Bancorp.

Which institutional investors are buying Cathay General Bancorp stock?

CATY stock was acquired by a variety of institutional investors in the last quarter, including Boston Trust Walden Corp, Boston Trust Walden Corp, Massachusetts Financial Services Co. MA, APG Asset Management N.V., APG Asset Management N.V., APG Asset Management N.V., Parametric Portfolio Associates LLC, and Geode Capital Management LLC. View insider buying and selling activity for Cathay General Bancorp.

How do I buy shares of Cathay General Bancorp?

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.

What is Cathay General Bancorp's stock price today?

One share of CATY stock can currently be purchased for approximately $28.36.

How big of a company is Cathay General Bancorp?

Cathay General Bancorp has a market capitalization of $2.26 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.

What is Cathay General Bancorp's official website?

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

How can I contact Cathay General Bancorp?

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]

This page was last updated on 6/3/2020 by MarketBeat.com Staff