Cathay General Bancorp (NASDAQ:CATY) had its price target upped by equities researchers at BMO Capital Markets from $44.00 to $45.00 in a research note issued to investors on Friday. The firm currently has an “outperform” rating on the bank’s stock. BMO Capital Markets’ price target points to a potential upside of 7.73% from the company’s current price.

A number of other brokerages have also recently weighed in on CATY. Zacks Investment Research cut Cathay General Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday. Royal Bank Of Canada lifted their target price on Cathay General Bancorp from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, October 26th. Piper Jaffray Companies reiterated a “buy” rating and issued a $43.00 target price on shares of Cathay General Bancorp in a report on Friday, October 6th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $37.00 target price on shares of Cathay General Bancorp in a report on Tuesday, July 25th. Finally, BidaskClub cut Cathay General Bancorp from a “hold” rating to a “sell” rating in a report on Sunday, July 16th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $42.14.

Cathay General Bancorp (NASDAQ:CATY) traded down $0.47 during mid-day trading on Friday, hitting $41.77. The stock had a trading volume of 305,410 shares, compared to its average volume of 346,908. Cathay General Bancorp has a 1-year low of $28.87 and a 1-year high of $42.64. The company has a quick ratio of 1.04, a current ratio of 1.05 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $3,375.73, a PE ratio of 16.78, a price-to-earnings-growth ratio of 2.10 and a beta of 1.34.

Cathay General Bancorp (NASDAQ:CATY) last posted its quarterly earnings data on Wednesday, October 25th. The bank reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.01. Cathay General Bancorp had a return on equity of 10.60% and a net margin of 33.87%. The business had revenue of $146.20 million for the quarter, compared to analysts’ expectations of $135.27 million. During the same quarter last year, the firm earned $0.58 earnings per share. The business’s revenue was up 29.8% on a year-over-year basis. sell-side analysts forecast that Cathay General Bancorp will post 2.49 EPS for the current year.

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A number of large investors have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA raised its position in Cathay General Bancorp by 8.4% in the third quarter. BNP Paribas Arbitrage SA now owns 40,851 shares of the bank’s stock valued at $1,642,000 after purchasing an additional 3,152 shares during the period. Prudential Financial Inc. raised its position in Cathay General Bancorp by 4.6% in the third quarter. Prudential Financial Inc. now owns 1,240,295 shares of the bank’s stock valued at $49,860,000 after purchasing an additional 54,780 shares during the period. IndexIQ Advisors LLC raised its position in Cathay General Bancorp by 83.3% in the third quarter. IndexIQ Advisors LLC now owns 23,004 shares of the bank’s stock valued at $925,000 after purchasing an additional 10,457 shares during the period. Stevens Capital Management LP raised its position in Cathay General Bancorp by 152.7% in the third quarter. Stevens Capital Management LP now owns 43,914 shares of the bank’s stock valued at $1,765,000 after purchasing an additional 26,535 shares during the period. Finally, Chicago Equity Partners LLC raised its position in Cathay General Bancorp by 6.6% in the third quarter. Chicago Equity Partners LLC now owns 93,690 shares of the bank’s stock valued at $3,766,000 after purchasing an additional 5,815 shares during the period. 68.05% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Cathay General Bancorp (NASDAQ:CATY)

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