Cathay General Bancorp Given New $27.50 Price Target at Keefe, Bruyette & Woods (CATY)
Keefe, Bruyette & Woods raised their price objective on shares of Cathay General Bancorp (NASDAQ:CATY) from $26.00 to $27.50 in a research note issued on Tuesday. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 6.51% from the company’s current price.
Shares of Cathay General Bancorp (NASDAQ:CATY) traded up 0.73% on Tuesday, hitting $26.07. The stock had a trading volume of 56,308 shares. Cathay General Bancorp has a 52 week low of $21.44 and a 52 week high of $27.94. The stock has a 50-day moving average of $25.7 and a 200-day moving average of $24.87. The company has a market cap of $2.077 billion and a price-to-earnings ratio of 16.07.
Cathay General Bancorp (NASDAQ:CATY) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $0.44 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.41 by $0.03. During the same quarter in the prior year, the company posted $0.35 earnings per share. Analysts expect that Cathay General Bancorp will post $1.71 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at RBC Capital raised their price target on shares of Cathay General Bancorp from $28.00 to $29.00 in a research note on Wednesday, July 23rd. They now have an “outperform” rating on the stock. Analysts at BMO Capital Markets raised their price target on shares of Cathay General Bancorp to $29.00 in a research note on Wednesday, July 23rd. They now have an “outperform” rating on the stock. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Cathay General Bancorp currently has an average rating of “Buy” and an average price target of $28.20.
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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