Cathay General Bancorp (NASDAQ:CATY) Receives $50.80 Consensus Price Target from Analysts

Shares of Cathay General Bancorp (NASDAQ:CATY) have been given an average recommendation of “Hold” by the five ratings firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $50.80.

Several equities analysts have recently issued reports on the company. Stephens decreased their price objective on Cathay General Bancorp from $60.00 to $57.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Piper Sandler cut their price target on Cathay General Bancorp from $45.00 to $43.00 and set an “underweight” rating for the company in a research note on Monday, January 27th. Finally, Keefe, Bruyette & Woods cut their price target on Cathay General Bancorp from $56.00 to $55.00 and set a “market perform” rating for the company in a research note on Thursday, January 23rd.

Institutional Investors Weigh In On Cathay General Bancorp

Several large investors have recently bought and sold shares of CATY. CIBC Asset Management Inc purchased a new stake in Cathay General Bancorp during the 3rd quarter worth approximately $201,000. Royce & Associates LP increased its stake in Cathay General Bancorp by 25.4% during the 3rd quarter. Royce & Associates LP now owns 49,420 shares of the bank’s stock worth $2,123,000 after buying an additional 10,022 shares in the last quarter. Natixis Advisors LLC purchased a new stake in Cathay General Bancorp during the 3rd quarter worth approximately $512,000. LMR Partners LLP purchased a new stake in Cathay General Bancorp during the 3rd quarter worth approximately $318,000. Finally, Intech Investment Management LLC purchased a new stake in Cathay General Bancorp during the 3rd quarter worth approximately $524,000. 75.01% of the stock is currently owned by hedge funds and other institutional investors.

Cathay General Bancorp Stock Up 0.3 %

Cathay General Bancorp stock opened at $43.28 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of 10.93 and a beta of 1.09. Cathay General Bancorp has a 1-year low of $33.88 and a 1-year high of $55.29. The business has a fifty day moving average price of $46.11 and a 200-day moving average price of $46.67.

Cathay General Bancorp (NASDAQ:CATY) last issued its quarterly earnings results on Wednesday, January 22nd. The bank reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.02. Cathay General Bancorp had a return on equity of 10.70% and a net margin of 20.57%. Equities research analysts forecast that Cathay General Bancorp will post 4.47 EPS for the current fiscal year.

Cathay General Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Thursday, February 27th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.36 annualized dividend and a yield of 3.14%. Cathay General Bancorp’s dividend payout ratio (DPR) is currently 34.34%.

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.