$0.85 EPS Expected for Cathay General Bancorp (CATY) This Quarter
Equities research analysts predict that Cathay General Bancorp (NASDAQ:CATY) will post earnings of $0.85 per share for the current quarter, Zacks reports. Four analysts have issued estimates for Cathay General Bancorp’s earnings. The lowest EPS estimate is $0.83 and the highest is $0.88. Cathay General Bancorp reported earnings of $0.64 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 32.8%. The business is scheduled to issue its next earnings report on Wednesday, October 24th.
According to Zacks, analysts expect that Cathay General Bancorp will report full-year earnings of $3.30 per share for the current financial year, with EPS estimates ranging from $3.23 to $3.38. For the next year, analysts forecast that the firm will post earnings of $3.49 per share, with EPS estimates ranging from $3.37 to $3.60. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Cathay General Bancorp.
Cathay General Bancorp (NASDAQ:CATY) last released its quarterly earnings results on Wednesday, July 18th. The bank reported $0.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.01. The company had revenue of $147.80 million for the quarter, compared to analyst estimates of $147.85 million. Cathay General Bancorp had a net margin of 31.65% and a return on equity of 11.98%. During the same quarter last year, the business earned $0.64 earnings per share.
In other news, EVP Lisa L. Kim sold 750 shares of the firm’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $42.06, for a total value of $31,545.00. Following the transaction, the executive vice president now directly owns 805 shares of the company’s stock, valued at $33,858.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Irwin Wong sold 6,409 shares of the firm’s stock in a transaction dated Wednesday, June 6th. The stock was sold at an average price of $43.00, for a total transaction of $275,587.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,958 shares of company stock worth $1,318,590. Insiders own 4.90% of the company’s stock.
A number of hedge funds have recently modified their holdings of CATY. LSV Asset Management raised its stake in Cathay General Bancorp by 198.0% during the second quarter. LSV Asset Management now owns 1,132,346 shares of the bank’s stock worth $45,848,000 after purchasing an additional 752,346 shares during the period. BlackRock Inc. raised its stake in Cathay General Bancorp by 5.8% during the second quarter. BlackRock Inc. now owns 9,807,758 shares of the bank’s stock worth $397,115,000 after purchasing an additional 538,766 shares during the period. Millennium Management LLC raised its stake in Cathay General Bancorp by 2,507.7% during the first quarter. Millennium Management LLC now owns 555,303 shares of the bank’s stock worth $22,201,000 after purchasing an additional 534,008 shares during the period. Victory Capital Management Inc. purchased a new position in Cathay General Bancorp during the second quarter worth about $8,121,000. Finally, Nuveen Asset Management LLC raised its stake in Cathay General Bancorp by 16.4% during the first quarter. Nuveen Asset Management LLC now owns 989,067 shares of the bank’s stock worth $39,543,000 after purchasing an additional 139,620 shares during the period. 68.24% of the stock is currently owned by institutional investors.
Shares of NASDAQ CATY traded up $0.15 during trading on Friday, hitting $42.32. The company had a trading volume of 6,241 shares, compared to its average volume of 380,237. Cathay General Bancorp has a fifty-two week low of $34.00 and a fifty-two week high of $45.59. The firm has a market cap of $3.41 billion, a price-to-earnings ratio of 17.21, a price-to-earnings-growth ratio of 1.59 and a beta of 1.32. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.33.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Tuesday, September 4th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.27%. Cathay General Bancorp’s dividend payout ratio is currently 39.02%.
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.
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