BMO Capital Markets reaffirmed their buy rating on shares of Cathay General Bancorp (NASDAQ:CATY) in a research note released on Thursday. BMO Capital Markets currently has a $44.00 price objective on the bank’s stock.

A number of other research firms have also weighed in on CATY. BidaskClub raised shares of Cathay General Bancorp from a sell rating to a hold rating in a report on Tuesday, June 13th. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $37.00 target price on shares of Cathay General Bancorp in a report on Tuesday, July 25th. Zacks Investment Research raised shares of Cathay General Bancorp from a hold rating to a strong-buy rating and set a $44.00 target price on the stock in a report on Friday, July 21st. Piper Jaffray Companies reaffirmed a buy rating and set a $42.00 target price on shares of Cathay General Bancorp in a report on Wednesday, July 12th. Finally, Royal Bank Of Canada upped their target price on shares of Cathay General Bancorp from $35.00 to $43.00 and gave the stock an outperform rating in a report on Thursday, July 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $40.86.

Cathay General Bancorp (CATY) traded up 0.17% during mid-day trading on Thursday, hitting $40.68. 234,434 shares of the company traded hands. The firm has a market capitalization of $3.29 billion, a P/E ratio of 16.74 and a beta of 1.31. The firm has a 50 day moving average of $36.91 and a 200 day moving average of $37.33. Cathay General Bancorp has a one year low of $28.84 and a one year high of $41.11.

Cathay General Bancorp (NASDAQ:CATY) last posted its earnings results on Wednesday, July 19th. The bank reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.03. The business had revenue of $123.50 million for the quarter, compared to analyst estimates of $129.10 million. Cathay General Bancorp had a net margin of 35.30% and a return on equity of 10.54%. During the same quarter in the prior year, the firm posted $0.44 EPS. Equities research analysts expect that Cathay General Bancorp will post $2.45 earnings per share for the current fiscal year.

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The business also recently declared a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Friday, September 1st were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date was Wednesday, August 30th. Cathay General Bancorp’s payout ratio is 34.57%.

Several large investors have recently modified their holdings of CATY. BlackRock Inc. increased its holdings in shares of Cathay General Bancorp by 17,138.1% in the 1st quarter. BlackRock Inc. now owns 7,956,239 shares of the bank’s stock worth $299,791,000 after buying an additional 7,910,084 shares during the last quarter. Balyasny Asset Management LLC increased its holdings in shares of Cathay General Bancorp by 4,688.9% in the 2nd quarter. Balyasny Asset Management LLC now owns 732,706 shares of the bank’s stock worth $27,806,000 after buying an additional 717,406 shares during the last quarter. Koch Industries Inc. increased its holdings in shares of Cathay General Bancorp by 6,239.0% in the 2nd quarter. Koch Industries Inc. now owns 412,986 shares of the bank’s stock worth $402,000 after buying an additional 406,471 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Cathay General Bancorp by 11.9% in the 2nd quarter. Northern Trust Corp now owns 2,450,360 shares of the bank’s stock worth $92,992,000 after buying an additional 261,148 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of Cathay General Bancorp by 7.4% in the 1st quarter. State Street Corp now owns 3,583,537 shares of the bank’s stock worth $135,026,000 after buying an additional 247,885 shares during the last quarter. 67.78% of the stock is currently owned by hedge funds and other institutional investors.

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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