Cathay General Bancorp (NASDAQ:CATY) Issues Earnings Results
Cathay General Bancorp (NASDAQ:CATY) announced its quarterly earnings data on Wednesday. The bank reported $0.84 EPS for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.01, Briefing.com reports. Cathay General Bancorp had a return on equity of 12.68% and a net margin of 34.23%. During the same period in the previous year, the firm earned $0.80 earnings per share.
Shares of Cathay General Bancorp stock opened at $37.20 on Thursday. Cathay General Bancorp has a 52 week low of $31.89 and a 52 week high of $40.06. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a 50 day moving average price of $37.82 and a two-hundred day moving average price of $35.95. The stock has a market capitalization of $2.95 billion, a PE ratio of 10.81 and a beta of 1.29.
A number of equities research analysts have commented on CATY shares. Wedbush reduced their price objective on Cathay General Bancorp from $40.00 to $39.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. ValuEngine raised Cathay General Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, January 4th. Zacks Investment Research raised Cathay General Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, December 24th. Finally, BidaskClub cut Cathay General Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. Cathay General Bancorp currently has a consensus rating of “Hold” and a consensus target price of $41.50.
About Cathay General Bancorp
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.
Featured Story: Why is the price-sales ratio important?
Receive News & Ratings for Cathay General Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cathay General Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.