Cathay General Bancorp Plans Quarterly Dividend of $0.07 (CATY)
Cathay General Bancorp (NASDAQ:CATY) announced a quarterly dividend on Friday, August 22nd, AnalystRatings.Net reports. Shareholders of record on Tuesday, September 2nd will be paid a dividend of 0.07 per share on Friday, September 12th. This represents a $0.28 annualized dividend and a dividend yield of 1.08%.
A number of analysts have recently weighed in on CATY shares. Analysts at Keefe, Bruyette & Woods raised their price target on shares of Cathay General Bancorp from $26.00 to $27.50 in a research note on Tuesday, July 29th. On a related note, 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. Finally, 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 investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Cathay General Bancorp presently has a consensus rating of “Buy” and a consensus price target of $28.20.
Shares of Cathay General Bancorp (NASDAQ:CATY) traded up 0.65% during mid-day trading on Friday, hitting $26.1699. The stock had a trading volume of 121,074 shares. 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 $24.93. The company has a market cap of $2.085 billion and a price-to-earnings ratio of 16.15.
Cathay General Bancorp (NASDAQ:CATY) last announced its 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.
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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