Cathay General Bancorp (NASDAQ:CATY) – Analysts at DA Davidson lifted their FY2017 earnings estimates for shares of Cathay General Bancorp in a research report issued to clients and investors on Thursday. DA Davidson analyst G. Tenner now anticipates that the bank will post earnings of $2.51 per share for the year, up from their previous estimate of $2.43. DA Davidson also issued estimates for Cathay General Bancorp’s Q4 2017 earnings at $0.65 EPS, Q2 2018 earnings at $0.64 EPS, Q3 2018 earnings at $0.65 EPS, Q4 2018 earnings at $0.66 EPS and FY2018 earnings at $2.67 EPS.

Several other equities research analysts also recently commented on the stock. Royal Bank Of Canada boosted their target price on shares of Cathay General Bancorp from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday. Zacks Investment Research downgraded shares of Cathay General Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, October 12th. Piper Jaffray Companies reissued a “buy” rating and set a $43.00 target price on shares of Cathay General Bancorp in a research report on Friday, October 6th. BMO Capital Markets reissued a “buy” rating and set a $44.00 target price on shares of Cathay General Bancorp in a research report on Thursday, October 5th. Finally, SunTrust Banks, Inc. began coverage on shares of Cathay General Bancorp in a research report on Friday, August 18th. They set a “hold” rating and a $39.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $41.86.

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Cathay General Bancorp (NASDAQ CATY) opened at 42.32 on Monday. The company has a market cap of $3.42 billion, a PE ratio of 17.42 and a beta of 1.30. The stock has a 50 day moving average price of $39.40 and a 200 day moving average price of $37.77. Cathay General Bancorp has a one year low of $28.84 and a one year high of $42.64.

Cathay General Bancorp (NASDAQ:CATY) last announced its quarterly earnings data on Wednesday, October 25th. The bank reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.01. The company had revenue of $146.20 million during the quarter, compared to analysts’ expectations of $135.27 million. Cathay General Bancorp had a return on equity of 10.60% and a net margin of 33.87%. Cathay General Bancorp’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.58 EPS.

A number of hedge funds have recently modified their holdings of CATY. UBS Asset Management Americas Inc. grew its position in Cathay General Bancorp by 47.1% in the 1st quarter. UBS Asset Management Americas Inc. now owns 46,465 shares of the bank’s stock worth $1,751,000 after purchasing an additional 14,868 shares in the last quarter. Teachers Advisors LLC grew its position in Cathay General Bancorp by 2.4% in the 1st quarter. Teachers Advisors LLC now owns 690,355 shares of the bank’s stock worth $26,013,000 after purchasing an additional 16,056 shares in the last quarter. Legal & General Group Plc grew its position in Cathay General Bancorp by 24.9% in the 1st quarter. Legal & General Group Plc now owns 47,410 shares of the bank’s stock worth $1,787,000 after purchasing an additional 9,459 shares in the last quarter. Vanguard Group Inc. grew its position in Cathay General Bancorp by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 6,978,981 shares of the bank’s stock worth $262,968,000 after purchasing an additional 182,443 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Cathay General Bancorp by 20.6% in the 1st quarter. Geode Capital Management LLC now owns 813,211 shares of the bank’s stock worth $30,641,000 after purchasing an additional 138,632 shares in the last quarter. 68.05% of the stock is owned by institutional investors and hedge funds.

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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