Cathay General Bancorp Announces Quarterly Dividend of $0.05 (CATY)
Cathay General Bancorp (NASDAQ:CATY) announced a quarterly dividend on Friday, February 21st, Analyst RN reports. Investors of record on Monday, March 3rd will be paid a dividend of 0.05 per share on Thursday, March 13th. This represents a $0.20 annualized dividend and a dividend yield of 0.84%.
A number of analysts have recently weighed in on CATY shares. Analysts at Keefe, Bruyette & Woods upgraded shares of Cathay General Bancorp from a “market perform” rating to an “outperform” rating in a research note on Tuesday, February 4th. On a related note, analysts at BMO Capital Markets upgraded shares of Cathay General Bancorp from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 30th. They now have a $27.00 price target on the stock. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $27.67.
Cathay General Bancorp (NASDAQ:CATY) traded up 2.06% during mid-day trading on Friday, hitting $24.25. 165,172 shares of the company’s stock traded hands. Cathay General Bancorp has a 1-year low of $17.87 and a 1-year high of $27.94. The stock’s 50-day moving average is $24.68 and its 200-day moving average is $24.53. The company has a market cap of $1.930 billion and a P/E ratio of 16.62.
Cathay General Bancorp (NASDAQ:CATY) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $0.40 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.40. During the same quarter last year, the company posted $0.31 earnings per share. On average, analysts predict that Cathay General Bancorp will post $1.65 earnings per share for the current fiscal year.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.