Cathay General Bancorp (NASDAQ:CATY) – Stock analysts at DA Davidson issued their Q3 2020 EPS estimates for Cathay General Bancorp in a research report issued on Wednesday, July 29th. DA Davidson analyst G. Tenner forecasts that the bank will post earnings per share of $0.61 for the quarter. DA Davidson also issued estimates for Cathay General Bancorp’s FY2020 earnings at $2.53 EPS.

Several other equities analysts have also commented on the company. SunTrust Banks increased their target price on Cathay General Bancorp from $24.00 to $27.00 and gave the company a “hold” rating in a report on Tuesday, May 19th. Piper Sandler initiated coverage on shares of Cathay General Bancorp in a research note on Wednesday, June 3rd. They issued a “hold” rating and a $28.00 price objective for the company. Zacks Investment Research downgraded shares of Cathay General Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, July 8th. Finally, BidaskClub downgraded shares of Cathay General Bancorp from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 7th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Cathay General Bancorp presently has an average rating of “Hold” and a consensus price target of $30.75.

NASDAQ:CATY opened at $24.18 on Friday. The firm has a market capitalization of $1.92 billion, a PE ratio of 8.01 and a beta of 1.50. The business’s fifty day moving average price is $25.48 and its 200 day moving average price is $27.93. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.05 and a quick ratio of 1.06. Cathay General Bancorp has a 12 month low of $17.58 and a 12 month high of $38.91.

Cathay General Bancorp (NASDAQ:CATY) last posted its earnings results on Monday, July 27th. The bank reported $0.68 EPS for the quarter, beating the consensus estimate of $0.57 by $0.11. The firm had revenue of $150.08 million for the quarter, compared to analyst estimates of $144.33 million. Cathay General Bancorp had a return on equity of 10.50% and a net margin of 30.55%. During the same quarter in the prior year, the company posted $0.90 earnings per share.

Institutional investors and hedge funds have recently made changes to their positions in the company. Advisor Group Inc. boosted its stake in shares of Cathay General Bancorp by 66.6% during the fourth quarter. Advisor Group Inc. now owns 1,509 shares of the bank’s stock worth $58,000 after buying an additional 603 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Cathay General Bancorp by 41.7% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,377 shares of the bank’s stock worth $146,000 after buying an additional 1,877 shares during the period. First Republic Investment Management Inc. acquired a new stake in shares of Cathay General Bancorp during the fourth quarter worth about $299,000. IndexIQ Advisors LLC acquired a new stake in shares of Cathay General Bancorp during the first quarter worth about $189,000. Finally, Jane Street Group LLC acquired a new stake in shares of Cathay General Bancorp during the fourth quarter worth about $350,000. Institutional investors and hedge funds own 69.85% of the company’s stock.

In other Cathay General Bancorp news, EVP Kim R. Bingham sold 4,986 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $30.52, for a total value of $152,172.72. Following the completion of the transaction, the executive vice president now owns 29,805 shares in the company, valued at $909,648.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.73% of the company’s stock.

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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