Cathay General Bancorp (CATY) Scheduled to Post Quarterly Earnings on Wednesday
Cathay General Bancorp (NASDAQ:CATY) will be releasing its earnings data after the market closes on Wednesday, October 19th. Analysts expect Cathay General Bancorp to post earnings of $0.59 per share for the quarter.
Cathay General Bancorp (NASDAQ:CATY) last released its quarterly earnings results on Wednesday, July 20th. The company reported $0.44 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.44. Cathay General Bancorp had a net margin of 31.20% and a return on equity of 9.23%. During the same quarter last year, the firm earned $0.56 EPS. On average, analysts expect Cathay General Bancorp to post $2.24 EPS for the current fiscal year and $2.28 EPS for the next fiscal year.
Shares of Cathay General Bancorp (NASDAQ:CATY) opened at 30.37 on Tuesday. The company’s 50-day moving average is $30.90 and its 200 day moving average is $30.04. Cathay General Bancorp has a 52-week low of $25.62 and a 52-week high of $34.69. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of 15.34 and a beta of 1.28.
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In other Cathay General Bancorp news, Vice Chairman Peter Wu sold 30,000 shares of the company’s stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $31.30, for a total transaction of $939,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 6.36% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Pacad Investment Ltd. purchased a new position in shares of Cathay General Bancorp during the second quarter worth approximately $234,000. Cipher Capital LP boosted its position in Cathay General Bancorp by 41.8% in the second quarter. Cipher Capital LP now owns 35,019 shares of the company’s stock worth $988,000 after buying an additional 10,327 shares during the period. Sei Investments Co. boosted its position in Cathay General Bancorp by 16.3% in the second quarter. Sei Investments Co. now owns 19,062 shares of the company’s stock worth $537,000 after buying an additional 2,675 shares during the period. Comerica Bank boosted its position in Cathay General Bancorp by 1.5% in the second quarter. Comerica Bank now owns 50,293 shares of the company’s stock worth $1,550,000 after buying an additional 767 shares during the period. Finally, Alliancebernstein L.P. boosted its position in Cathay General Bancorp by 7.4% in the second quarter. Alliancebernstein L.P. now owns 156,529 shares of the company’s stock worth $4,414,000 after buying an additional 10,760 shares during the period. Institutional investors own 66.26% of the company’s stock.
CATY has been the subject of several research reports. Zacks Investment Research upgraded shares of Cathay General Bancorp from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a research report on Monday, September 12th. BMO Capital Markets reiterated an “outperform” rating and issued a $32.00 price target (down previously from $33.00) on shares of Cathay General Bancorp in a research report on Wednesday, July 6th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Cathay General Bancorp from $31.00 to $32.00 and gave the company a “market perform” rating in a research report on Monday, July 11th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Cathay General Bancorp presently has a consensus rating of “Hold” and a consensus target price of $33.00.
Cathay General Bancorp Company Profile
Cathay General Bancorp is a bank holding company. The Company holds Cathay Bank, a California state-chartered commercial bank (the Bank); approximately seven limited partnerships investing in affordable housing investments, in which the Bank is the sole limited partner; GBC Venture Capital, Inc, and Asia Realty Corp.
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