Cathay General Bancorp (NASDAQ:CATY) – Equities researchers at DA Davidson raised their Q4 2017 earnings per share (EPS) estimates for Cathay General Bancorp in a research note issued to investors on Thursday. DA Davidson analyst G. Tenner now forecasts that the bank will earn $0.63 per share for the quarter, up from their previous forecast of $0.61. DA Davidson also issued estimates for Cathay General Bancorp’s FY2018 earnings at $2.66 EPS.

Cathay General Bancorp (NASDAQ:CATY) last posted its earnings results on Wednesday, July 19th. The bank reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.03. The firm had revenue of $123.50 million during the quarter, compared to analysts’ expectations of $129.10 million. Cathay General Bancorp had a net margin of 35.30% and a return on equity of 10.65%. During the same quarter in the prior year, the business earned $0.44 earnings per share.

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Several other research analysts have also commented on CATY. Royal Bank Of Canada boosted their price objective on Cathay General Bancorp from $35.00 to $43.00 and gave the stock an “outperform” rating in a report on Thursday. BidaskClub lowered Cathay General Bancorp from a “hold” rating to a “sell” rating in a report on Sunday, July 16th. Piper Jaffray Companies reissued a “buy” rating and set a $42.00 price objective on shares of Cathay General Bancorp in a report on Wednesday, July 12th. Zacks Investment Research raised Cathay General Bancorp from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a report on Friday, April 21st. Finally, Wedbush reissued a “neutral” rating and set a $39.00 price objective on shares of Cathay General Bancorp in a report on Tuesday, June 27th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Cathay General Bancorp has an average rating of “Hold” and an average target price of $40.20.

Cathay General Bancorp (CATY) traded down 0.31% on Friday, hitting $38.26. 273,413 shares of the stock were exchanged. The company has a 50-day moving average price of $37.66 and a 200-day moving average price of $37.77. The firm has a market cap of $3.05 billion, a PE ratio of 17.16 and a beta of 1.28. Cathay General Bancorp has a 52-week low of $28.84 and a 52-week high of $40.83.

Hedge funds have recently added to or reduced their stakes in the company. Karp Capital Management Corp purchased a new stake in Cathay General Bancorp during the first quarter worth $526,000. Retirement Systems of Alabama increased its stake in Cathay General Bancorp by 0.9% in the first quarter. Retirement Systems of Alabama now owns 96,623 shares of the bank’s stock worth $3,641,000 after buying an additional 862 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in Cathay General Bancorp by 3.3% in the first quarter. Louisiana State Employees Retirement System now owns 18,900 shares of the bank’s stock worth $712,000 after buying an additional 600 shares during the last quarter. Allianz Asset Management AG purchased a new stake in Cathay General Bancorp during the fourth quarter worth $231,000. Finally, ClariVest Asset Management LLC increased its stake in Cathay General Bancorp by 160.6% in the first quarter. ClariVest Asset Management LLC now owns 159,500 shares of the bank’s stock worth $6,010,000 after buying an additional 98,300 shares during the last quarter. Institutional investors own 68.11% of the company’s stock.

In related news, Vice Chairman Anthony M. Tang sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $38.01, for a total value of $1,900,500.00. Following the completion of the sale, the insider now owns 301,400 shares in the company, valued at approximately $11,456,214. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.76% of the company’s stock.

About Cathay General Bancorp

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.

Earnings History and Estimates for Cathay General Bancorp (NASDAQ:CATY)

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