Wall Street analysts expect Cathay General Bancorp (NASDAQ:CATY) to post earnings per share of $0.94 for the current fiscal quarter, Zacks Investment Research reports. Three analysts provided earnings estimates for Cathay General Bancorp, with the lowest EPS estimate of $0.91 and the highest estimate of $0.97. Cathay General Bancorp posted earnings of $0.92 per share in the same quarter last year, suggesting a positive year-over-year growth rate of 2.2%. The company is due to announce its next earnings report on Monday, April 25.

According to Zacks, analysts expect Cathay General Bancorp to report annual earnings of $4.01 per share for the current year, with EPS estimates ranging from $3.89 to $4.10. For the next fiscal year, analysts expect the company to report earnings of $4.56 per share, with EPS estimates ranging from $4.27 to $5.00. Zacks Investment Research’s EPS calculations are an average average based on a survey of sell-side research analysts who provide coverage for Cathay General Bancorp.

Cathay General Bancorp Inc (NASDAQ:CATY) last released its quarterly results on Thursday, January 27. The bank reported earnings per share (EPS) of $0.99 for the quarter, beating the Zacks consensus estimate of $0.92 by $0.07. Cathay General Bancorp posted a net margin of 41.37% and a return on equity of 12.15%. The company posted revenue of $175.26 million for the quarter, versus analyst estimates of $166.02 million. In the same quarter a year earlier, the company earned $0.89 per share. The company’s revenue increased by 15.9% compared to the same quarter last year.

Separately, Zacks Investment Research moved shares of Cathay General Bancorp from a “hold” rating to a “buy” rating and set a price target of $52.00 on the stock in a Tuesday, January 11 research report.

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Shares of CATY rose $0.47 during Friday trading hours, hitting $48.08. 10,231 shares of the stock are trading in the hands, compared to its average volume of 389,198. The company has a fifty-day moving average price of $44.94 and a 200-day moving average price of 42 $.57. Cathay General Bancorp has a 1-year low of $35.51 and a 1-year high of $48.88. The company has a market capitalization of $3.71 billion, a PE ratio of 12.63 and a beta of 1.30. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt ratio of 0.07.

The company also recently announced a quarterly dividend, which will be paid on Monday, March 7. Shareholders of record on Friday, February 25 will receive a dividend of $0.34. This represents an annualized dividend of $1.36 and a yield of 2.83%. The ex-dividend date is Thursday, February 24. Cathay General Bancorp’s dividend payout ratio is 35.79%.

A number of hedge funds have recently bought and sold CATY shares. Covestor Ltd purchased a new stake in shares of Cathay General Bancorp during Q4 for $29,000. Lazard Asset Management LLC purchased a new equity stake in Cathay General Bancorp during Q4 for $29,000. O Shaughnessy Asset Management LLC increased its holdings of Cathay General Bancorp shares by 145.6% during Q3. O Shaughnessy Asset Management LLC now owns 759 shares of the bank worth $31,000 after purchasing an additional 450 shares during the period. Dark Forest Capital Management LP purchased a new stake in shares of Cathay General Bancorp during Q2 for $32,000. Finally, Point72 Hong Kong Ltd bought a new equity stake in Cathay General Bancorp during the 4th quarter for a value of $39,000. 68.62% of the shares are held by institutional investors.

About Cathay General Bancorp

Cathay General Bancorp is a holding company that provides financial services. It offers commercial mortgages, commercial loans, small business administration loans, residential mortgages, home construction loans, home equity lines of credit and personal installment loans for the automobile, household and other consumer expenses.

See also

Get a free copy of Zacks’ research report on Cathay General Bancorp (CATY)

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Earnings history and estimates for Cathay General Bancorp (NASDAQ:CATY)

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