The brokerages expect Cathay General Bancorp Inc (NASDAQ:CATY) to report sales of $171.87 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates of Cathay General Bancorp’s earnings, with estimates ranging from $168.00 million to $177.60 million. Cathay General Bancorp posted sales of $151.82 million in the same quarter last year, suggesting a positive year-over-year growth rate of 13.2%. The company is expected to release its next quarterly results on Monday, April 25.
According to Zacks, analysts expect Cathay General Bancorp to report annual revenue of $727.57 million for the current fiscal year, with estimates ranging from $720.80 to $737.90 million. . For next year, analysts expect the company to post sales of $799.17 million, with estimates ranging from $780.50 million to $819.00 million. Zacks Investment Research sales averages are an average average based on a survey of research companies that provide coverage for Cathay General Bancorp.
Cathay General Bancorp Inc (NASDAQ:CATY) last released quarterly earnings data on Thursday, January 27. The bank reported earnings per share of $0.99 for the quarter, beating the consensus estimate of $0.92 by $0.07. Cathay General Bancorp had a return on equity of 12.15% and a net margin of 41.37%. The company posted revenue of $175.26 million for the quarter, versus analyst estimates of $166.02 million. During the same period a year earlier, the company posted EPS of $0.89. The company’s revenue increased by 15.9% compared to the same quarter last year.
Separately, Zacks Investment Research upgraded Cathay General Bancorp from a “hold” rating to a “buy” rating and set a price target of $52.00 on the stock in a Tuesday, January 11 research note.
CATY stock opened at $48.07 on Friday. Cathay General Bancorp has a 1-year low of $35.51 and a 1-year high of $48.88. The company has a market capitalization of $3.71 billion, a P/E ratio of 12.65 and a beta of 1.30. The company’s 50-day moving average is $45.03 and its 200-day moving average is $42.65. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt ratio of 0.07.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 7. Shareholders of record on Friday, February 25 will receive a dividend of $0.34. This represents an annualized dividend of $1.36 and a dividend yield of 2.83%. The ex-dividend date is Thursday, February 24. Cathay General Bancorp’s payout ratio is currently 35.79%.
Several institutional investors and hedge funds have recently changed their positions in the company. Goldman Sachs Group Inc. increased its stake in Cathay General Bancorp by 27.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 456,018 shares of the bank worth $19,605,000 after buying an additional 98,124 shares last quarter. Deutsche Bank AG increased its stake in Cathay General Bancorp by 3.3% during the fourth quarter. Deutsche Bank AG now owns 50,599 shares in the bank worth $2,175,000 after buying an additional 1,600 shares last quarter. California State Teachers Retirement System increased its stake in Cathay General Bancorp shares by 0.3% in the fourth quarter. California State Teachers Retirement System now owns 103,031 shares of the bank valued at $4,429,000 after purchasing 355 additional shares during the period. Parametric Portfolio Associates LLC increased its stake in shares of Cathay General Bancorp by 10.9% in the fourth quarter. Parametric Portfolio Associates LLC now owns 371,063 shares of the bank valued at $15,952,000 after purchasing an additional 36,549 shares during the period. Finally, Kensington Investment Counsel LLC acquired a new position in shares of Cathay General Bancorp in Q4 worth $1,436,000. 68.62% of the shares are currently held by institutional investors and hedge funds.
Cathay General Bancorp Company Profile
Cathay General Bancorp is a holding company that provides financial services. It offers commercial mortgages, commercial loans, small business administration loans, residential mortgages, home construction loans, home equity lines of credit and personal installment loans for the automobile, household and other consumer expenses.
For more information on Zacks Investment Research’s research offerings, visit Zacks.com
This instant news alert was powered by MarketBeat’s storytelling science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Should you invest $1,000 in Cathay General Bancorp right now?
Before you consider Cathay General Bancorp, you’ll want to hear this.
MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market ripples…and Cathay General Bancorp was not on the list.
While Cathay General Bancorp currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the 5 actions here