Brokerages Set Cathay General Bancorp (NASDAQ:CATY) PT at $39.00

Shares of Cathay General Bancorp (NASDAQ:CATYGet Free Report) have been assigned a consensus rating of “Hold” from the five research firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $39.00.

Several research analysts recently weighed in on the company. Keefe, Bruyette & Woods reduced their price target on Cathay General Bancorp from $46.00 to $41.00 and set a “market perform” rating for the company in a research report on Tuesday, April 23rd. Wedbush reiterated an “outperform” rating and set a $44.00 price target on shares of Cathay General Bancorp in a research report on Tuesday, April 23rd. StockNews.com cut Cathay General Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, Truist Financial cut their price objective on Cathay General Bancorp from $40.00 to $38.00 and set a “hold” rating for the company in a research report on Thursday, April 25th.

Check Out Our Latest Report on Cathay General Bancorp

Cathay General Bancorp Price Performance

Shares of NASDAQ CATY opened at $36.84 on Tuesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.03 and a current ratio of 1.04. The company has a market cap of $2.68 billion, a PE ratio of 8.15 and a beta of 1.12. The business has a 50-day simple moving average of $36.40 and a two-hundred day simple moving average of $39.15. Cathay General Bancorp has a fifty-two week low of $28.95 and a fifty-two week high of $45.72.

Cathay General Bancorp (NASDAQ:CATYGet Free Report) last released its earnings results on Monday, April 22nd. The bank reported $0.98 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $339.25 million for the quarter, compared to analyst estimates of $188.85 million. During the same period last year, the firm earned $1.32 EPS. As a group, equities analysts expect that Cathay General Bancorp will post 3.94 EPS for the current fiscal year.

Cathay General Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Thursday, May 30th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 3.69%. The ex-dividend date is Thursday, May 30th. Cathay General Bancorp’s dividend payout ratio (DPR) is presently 30.09%.

Hedge Funds Weigh In On Cathay General Bancorp

Large investors have recently modified their holdings of the business. GAMMA Investing LLC purchased a new stake in shares of Cathay General Bancorp in the 4th quarter valued at $51,000. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of Cathay General Bancorp in the 3rd quarter valued at $109,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Cathay General Bancorp by 16.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,559 shares of the bank’s stock valued at $124,000 after buying an additional 491 shares during the period. Bessemer Group Inc. raised its holdings in shares of Cathay General Bancorp by 16.6% in the 1st quarter. Bessemer Group Inc. now owns 3,675 shares of the bank’s stock valued at $139,000 after buying an additional 523 shares during the period. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Cathay General Bancorp by 545.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 4,260 shares of the bank’s stock valued at $148,000 after buying an additional 3,600 shares during the period. Institutional investors and hedge funds own 75.01% of the company’s stock.

About Cathay General Bancorp

(Get Free Report

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.

Further Reading

Analyst Recommendations for Cathay General Bancorp (NASDAQ:CATY)

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