Cathay General Bancorp (CATY) Posts Quarterly Earnings Results, Meets Expectations
Cathay General Bancorp (NASDAQ:CATY) posted its quarterly earnings results on Thursday. The company reported $0.40 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.40, AR Network reports. During the same quarter in the prior year, the company posted $0.31 earnings per share.
Shares of Cathay General Bancorp (NASDAQ:CATY) traded down 3.28% on Thursday, hitting $25.09. The stock had a trading volume of 598,411 shares. Cathay General Bancorp has a 1-year low of $17.87 and a 1-year high of $27.94. The stock has a 50-day moving average of $26.10 and a 200-day moving average of $24.48. The company has a market cap of $1.984 billion and a P/E ratio of 19.50.
Several analysts have recently commented on the stock. Analysts at Raymond James upgraded shares of Cathay General Bancorp from a “market perform” rating to an “outperform” rating in a research note to investors on Tuesday, November 26th. Analysts at BMO Capital Markets reiterated a “hold” rating on shares of Cathay General Bancorp in a research note to investors on Sunday, October 27th. They now have a $24.00 price target on the stock. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $25.88.
Cathay General Bancorp is a holding company of Cathay Bank, a California state-chartered commercial bank (NASDAQ:CATY), six limited partnerships investing in affordable housing investments in which the Bank is the sole limited partner, and GBC Venture Capital, Inc The Bank owns 100% of the common stock of five statutory business trusts created for the purpose of issuing capital securities.
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