Cathay General Bancorp (NASDAQ:CATY) Set to Announce Quarterly Earnings on Wednesday
Cathay General Bancorp (NASDAQ:CATY) will be releasing its earnings data after the market closes on Wednesday, July 19th. Analysts expect Cathay General Bancorp to post earnings of $0.62 per share for the quarter.
Cathay General Bancorp (NASDAQ:CATY) last released its earnings results on Wednesday, April 19th. The bank reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. Cathay General Bancorp had a net margin of 32.94% and a return on equity of 9.83%. The firm had revenue of $118.83 million during the quarter, compared to analyst estimates of $119.30 million. During the same quarter in the previous year, the business earned $0.57 EPS. On average, analysts expect Cathay General Bancorp to post $2.39 EPS for the current fiscal year and $2.62 EPS for the next fiscal year.
Shares of Cathay General Bancorp (NASDAQ:CATY) opened at 37.26 on Monday. The firm’s 50-day moving average is $37.35 and its 200-day moving average is $37.79. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of 16.71 and a beta of 1.28. Cathay General Bancorp has a 12-month low of $28.84 and a 12-month high of $40.83.
Several equities analysts have recently issued reports on the stock. BidaskClub downgraded shares of Cathay General Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Zacks Investment Research downgraded shares of Cathay General Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. Keefe, Bruyette & Woods set a $37.00 price target on shares of Cathay General Bancorp and gave the company a “hold” rating in a research note on Monday, May 22nd. Wedbush reaffirmed a “neutral” rating and set a $39.00 price target on shares of Cathay General Bancorp in a research note on Tuesday, June 27th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $42.00 price target on shares of Cathay General Bancorp in a research note on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $39.50.
In other news, Vice Chairman Anthony M. Tang sold 50,000 shares of the stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $38.01, for a total transaction of $1,900,500.00. Following the completion of the sale, the insider now directly owns 301,400 shares in the company, valued at $11,456,214. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 5.76% of the company’s stock.
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); seven limited partnerships investing in affordable housing investments; GBC Venture Capital, Inc, and Asia Realty Corp. The Company also owns the common stock of five statutory business trusts created for issuing capital securities.
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