Wall Street brokerages predict that Cathay General Bancorp (NASDAQ:CATY) will post $0.85 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Cathay General Bancorp’s earnings, with the lowest EPS estimate coming in at $0.83 and the highest estimate coming in at $0.86. 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 company is expected to announce its next earnings results on Wednesday, October 24th.

According to Zacks, analysts expect that Cathay General Bancorp will report full year earnings of $3.29 per share for the current financial year, with EPS estimates ranging from $3.23 to $3.38. For the next year, analysts expect that the company will report earnings of $3.51 per share, with EPS estimates ranging from $3.37 to $3.67. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Cathay General Bancorp.

Cathay General Bancorp (NASDAQ:CATY) last released its earnings results on Wednesday, July 18th. The bank reported $0.90 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.01. Cathay General Bancorp had a return on equity of 11.98% and a net margin of 31.65%. The firm had revenue of $147.80 million for the quarter, compared to the consensus estimate of $147.85 million. During the same period in the prior year, the business posted $0.64 earnings per share.

A number of equities analysts have recently commented on CATY shares. Zacks Investment Research upgraded Cathay General Bancorp from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a report on Friday, July 20th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $47.00 price objective on shares of Cathay General Bancorp in a report on Friday, July 20th. Finally, BidaskClub upgraded Cathay General Bancorp from a “strong sell” rating to a “sell” rating in a report on Saturday, July 21st. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. Cathay General Bancorp presently has a consensus rating of “Hold” and an average target price of $47.31.

In other news, Vice Chairman Anthony M. Tang sold 11,510 shares of the firm’s stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $42.50, for a total value of $489,175.00. Following the transaction, the insider now directly owns 283,272 shares in the company, valued at approximately $12,039,060. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Vice Chairman Anthony M. Tang sold 9,781 shares of the firm’s stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $42.50, for a total value of $415,692.50. Following the completion of the transaction, the insider now owns 268,225 shares in the company, valued at $11,399,562.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,330 shares of company stock worth $1,883,695. Company insiders own 4.90% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. United Services Automobile Association grew its stake in shares of Cathay General Bancorp by 86.4% in the second quarter. United Services Automobile Association now owns 117,124 shares of the bank’s stock valued at $4,742,000 after buying an additional 54,278 shares in the last quarter. Northern Trust Corp grew its stake in shares of Cathay General Bancorp by 0.6% in the second quarter. Northern Trust Corp now owns 2,417,651 shares of the bank’s stock valued at $97,890,000 after buying an additional 14,005 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in shares of Cathay General Bancorp in the second quarter valued at about $219,000. Bank of Nova Scotia acquired a new stake in shares of Cathay General Bancorp in the second quarter valued at about $2,105,000. Finally, California Public Employees Retirement System grew its stake in shares of Cathay General Bancorp by 12.4% in the second quarter. California Public Employees Retirement System now owns 223,335 shares of the bank’s stock valued at $9,043,000 after buying an additional 24,598 shares in the last quarter. Institutional investors and hedge funds own 70.50% of the company’s stock.

NASDAQ CATY traded down $0.32 during trading hours on Thursday, hitting $41.43. 833,400 shares of the company’s stock were exchanged, compared to its average volume of 372,849. The company has a market capitalization of $3.45 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 1.61 and a beta of 1.28. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.33. Cathay General Bancorp has a 12-month low of $38.46 and a 12-month high of $45.59.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Tuesday, September 4th were issued a $0.24 dividend. The ex-dividend date was Friday, August 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.32%. Cathay General Bancorp’s dividend payout ratio (DPR) is 39.02%.

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.

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Earnings History and Estimates for Cathay General Bancorp (NASDAQ:CATY)

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