Cathay General Bancorp (NASDAQ:CATY) had its price objective hoisted by BMO Capital Markets from $44.00 to $45.00 in a report issued on Friday. BMO Capital Markets currently has an outperform rating on the bank’s stock.

Several other equities research analysts also recently issued reports on CATY. Keefe, Bruyette & Woods restated a hold rating and set a $37.00 price objective on shares of Cathay General Bancorp in a research report on Tuesday, July 25th. BidaskClub downgraded shares of Cathay General Bancorp from a hold rating to a sell rating in a research report on Sunday, July 16th. Royal Bank Of Canada raised their price objective on shares of Cathay General Bancorp from $43.00 to $45.00 and gave the stock an outperform rating in a research report on Thursday, October 26th. Zacks Investment Research downgraded shares of Cathay General Bancorp from a buy rating to a hold rating in a research report on Wednesday. Finally, Piper Jaffray Companies restated a buy rating and set a $43.00 price objective on shares of Cathay General Bancorp in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $42.14.

Cathay General Bancorp (NASDAQ CATY) traded down $0.47 during trading on Friday, reaching $41.77. The company had a trading volume of 259,637 shares, compared to its average volume of 346,908. Cathay General Bancorp has a fifty-two week low of $28.87 and a fifty-two week high of $42.64. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.05 and a quick ratio of 1.04. The company has a market capitalization of $3,375.73, a PE ratio of 16.78, a P/E/G ratio of 2.10 and a beta of 1.34.

Cathay General Bancorp (NASDAQ:CATY) last posted its quarterly earnings results on Wednesday, October 25th. The bank reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. Cathay General Bancorp had a return on equity of 10.60% and a net margin of 33.87%. The business had revenue of $146.20 million during the quarter, compared to analysts’ expectations of $135.27 million. During the same quarter last year, the company posted $0.58 earnings per share. Cathay General Bancorp’s quarterly revenue was up 29.8% on a year-over-year basis. sell-side analysts anticipate that Cathay General Bancorp will post 2.49 earnings per share for the current year.

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A number of hedge funds have recently modified their holdings of CATY. BlackRock Inc. raised its position in shares of Cathay General Bancorp by 7.0% in the second quarter. BlackRock Inc. now owns 8,511,095 shares of the bank’s stock valued at $322,995,000 after buying an additional 554,856 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Cathay General Bancorp by 2.7% in the first quarter. Vanguard Group Inc. now owns 6,978,981 shares of the bank’s stock valued at $262,968,000 after buying an additional 182,443 shares in the last quarter. State Street Corp raised its position in shares of Cathay General Bancorp by 6.3% in the second quarter. State Street Corp now owns 3,810,885 shares of the bank’s stock valued at $144,623,000 after buying an additional 227,348 shares in the last quarter. Northern Trust Corp raised its position in shares of Cathay General Bancorp by 11.9% in the second quarter. Northern Trust Corp now owns 2,450,360 shares of the bank’s stock valued at $92,992,000 after buying an additional 261,148 shares in the last quarter. Finally, Prudential Financial Inc. raised its position in shares of Cathay General Bancorp by 4.6% in the third quarter. Prudential Financial Inc. now owns 1,240,295 shares of the bank’s stock valued at $49,860,000 after buying an additional 54,780 shares in the last quarter. Hedge funds and other institutional investors own 68.05% of the company’s stock.

About Cathay General Bancorp

Cathay General Bancorp is a bank holding company. The Company holds Cathay Bank, a California state-chartered commercial bank (the Bank); seven limited partnerships investing in affordable housing investments; GBC Venture Capital, Inc, and Asia Realty Corp. The Company also owns the common stock of five statutory business trusts created for issuing capital securities.

Analyst Recommendations for Cathay General Bancorp (NASDAQ:CATY)

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