Cathay General Bancorp (NASDAQ:CATY) – Equities researchers at Wedbush boosted their Q1 2018 EPS estimates for shares of Cathay General Bancorp in a research report issued on Thursday. Wedbush analyst D. Chiaverini now anticipates that the bank will earn $0.65 per share for the quarter, up from their prior forecast of $0.62. Wedbush currently has a “Neutral” rating and a $39.00 target price on the stock. Wedbush also issued estimates for Cathay General Bancorp’s Q2 2018 earnings at $0.67 EPS, Q3 2018 earnings at $0.68 EPS and Q4 2018 earnings at $0.70 EPS.

Cathay General Bancorp (NASDAQ:CATY) last released its quarterly earnings data on Wednesday, July 19th. The bank reported $0.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.03. The company had revenue of $123.50 million during the quarter, compared to the consensus estimate of $129.10 million. Cathay General Bancorp had a net margin of 35.30% and a return on equity of 10.54%. During the same period last year, the firm earned $0.44 EPS.

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CATY has been the subject of several other reports. BidaskClub lowered shares of Cathay General Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. Zacks Investment Research lowered shares of Cathay General Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. Keefe, Bruyette & Woods set a $37.00 target price on shares of Cathay General Bancorp and gave the company a “hold” rating in a research report on Monday, May 22nd. Royal Bank Of Canada boosted their target price on shares of Cathay General Bancorp from $35.00 to $43.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Piper Jaffray Companies restated a “buy” rating and set a $42.00 target price on shares of Cathay General Bancorp in a research report on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $41.00.

Cathay General Bancorp (NASDAQ:CATY) opened at 38.20 on Monday. The company has a 50-day moving average of $37.66 and a 200 day moving average of $37.77. The company has a market capitalization of $3.05 billion, a P/E ratio of 15.72 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 institutional investors have recently bought and sold shares of the company. Oakbrook Investments LLC purchased a new position in Cathay General Bancorp during the second quarter worth $211,000. LS Investment Advisors LLC raised its position in Cathay General Bancorp by 19.0% in the second quarter. LS Investment Advisors LLC now owns 5,935 shares of the bank’s stock worth $225,000 after buying an additional 946 shares during the last quarter. Oxford Asset Management purchased a new position in Cathay General Bancorp during the first quarter worth $224,000. Russell Investments Group Ltd. purchased a new position in Cathay General Bancorp during the fourth quarter worth $230,000. Finally, Allianz Asset Management AG purchased a new position in Cathay General Bancorp during the fourth quarter worth $231,000. Institutional investors and hedge funds own 68.08% of the company’s stock.

In other Cathay General Bancorp news, Vice Chairman Anthony M. Tang sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $38.01, for a total value of $1,900,500.00. Following the completion of the transaction, the insider now directly owns 301,400 shares in the company, valued at $11,456,214. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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.

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

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