Cathay General Bancorp Price Target Raised to $29.00 at BMO Capital Markets (CATY)
Investment analysts at BMO Capital Markets lifted their price target on shares of Cathay General Bancorp (NASDAQ:CATY) to $29.00 in a note issued to investors on Wednesday. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ target price points to a potential upside of 13.33% from the company’s current price.
Shares of Cathay General Bancorp (NASDAQ:CATY) opened at 25.75 on Wednesday. Cathay General Bancorp has a 52-week low of $21.44 and a 52-week high of $27.94. The stock’s 50-day moving average is $25.57 and its 200-day moving average is $24.89. The company has a market cap of $2.050 billion and a price-to-earnings ratio of 16.84.
Cathay General Bancorp (NASDAQ:CATY) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.03. During the same quarter in the previous year, the company posted $0.35 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.
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