FY2025 EPS Estimates for Cathay General Bancorp (NASDAQ:CATY) Increased by Analyst

Cathay General Bancorp (NASDAQ:CATY) – Equities research analysts at DA Davidson increased their FY2025 earnings per share estimates for shares of Cathay General Bancorp in a research note issued on Tuesday, April 23rd. DA Davidson analyst G. Tenner now forecasts that the bank will post earnings of $4.49 per share for the year, up from their previous forecast of $4.46. The consensus estimate for Cathay General Bancorp’s current full-year earnings is $3.92 per share.

Other equities research analysts also recently issued reports about the company. StockNews.com downgraded Cathay General Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, April 6th. Wedbush reiterated an “outperform” rating and issued a $44.00 price target on shares of Cathay General Bancorp in a report on Tuesday. Truist Financial lowered their price target on Cathay General Bancorp from $40.00 to $38.00 and set a “hold” rating for the company in a report on Thursday. Finally, Keefe, Bruyette & Woods lowered their price target on Cathay General Bancorp from $46.00 to $41.00 and set a “market perform” rating for the company in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $39.00.

Cathay General Bancorp Price Performance

Shares of NASDAQ CATY opened at $34.96 on Thursday. Cathay General Bancorp has a twelve month low of $27.24 and a twelve month high of $45.72. The company has a current ratio of 1.04, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of 7.73 and a beta of 1.12. The business has a 50 day simple moving average of $37.71 and a 200-day simple moving average of $38.79.

Cathay General Bancorp (NASDAQ:CATY) last posted its quarterly earnings data on Monday, April 22nd. The bank reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.04). Cathay General Bancorp had a return on equity of 13.02% and a net margin of 24.41%. The business had revenue of $339.25 million for the quarter, compared to analysts’ expectations of $188.85 million. During the same quarter in the prior year, the firm earned $1.32 earnings per share.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Prime Capital Investment Advisors LLC boosted its position in Cathay General Bancorp by 4.1% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 6,302 shares of the bank’s stock worth $281,000 after acquiring an additional 247 shares during the period. Arizona State Retirement System boosted its position in Cathay General Bancorp by 1.6% during the 3rd quarter. Arizona State Retirement System now owns 19,620 shares of the bank’s stock worth $682,000 after acquiring an additional 304 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Cathay General Bancorp by 16.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,559 shares of the bank’s stock worth $124,000 after acquiring an additional 491 shares during the period. Oregon Public Employees Retirement Fund boosted its position in Cathay General Bancorp by 2.6% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 21,478 shares of the bank’s stock worth $747,000 after acquiring an additional 550 shares during the period. Finally, Pathstone Family Office LLC boosted its position in Cathay General Bancorp by 4.2% during the 3rd quarter. Pathstone Family Office LLC now owns 17,103 shares of the bank’s stock worth $594,000 after acquiring an additional 692 shares during the period. Institutional investors and hedge funds own 75.01% of the company’s stock.

Insider Activity at Cathay General Bancorp

In related news, Vice Chairman Anthony M. Tang sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $43.45, for a total transaction of $304,150.00. Following the completion of the transaction, the insider now owns 204,500 shares in the company, valued at approximately $8,885,525. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.76% of the company’s stock.

Cathay General Bancorp Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $1.36 dividend on an annualized basis and a yield of 3.89%. Cathay General Bancorp’s dividend payout ratio is currently 30.09%.

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.