Zacks: Brokerages Anticipate Cathay General Bancorp (CATY) to Announce $0.63 Earnings Per Share
Wall Street analysts expect that Cathay General Bancorp (NASDAQ:CATY) will announce earnings per share (EPS) of $0.63 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Cathay General Bancorp’s earnings, with the lowest EPS estimate coming in at $0.61 and the highest estimate coming in at $0.65. Cathay General Bancorp posted earnings per share of $0.60 during the same quarter last year, which would indicate a positive year-over-year growth rate of 5%. The business is scheduled to report its next quarterly earnings report on Wednesday, January 24th.
On average, analysts expect that Cathay General Bancorp will report full-year earnings of $2.49 per share for the current year, with EPS estimates ranging from $2.47 to $2.51. For the next financial year, analysts forecast that the company will post earnings of $2.71 per share, with EPS estimates ranging from $2.67 to $2.79. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that follow Cathay General Bancorp.
Cathay General Bancorp (NASDAQ:CATY) last posted its quarterly earnings data on Wednesday, October 25th. The bank reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. The business had revenue of $146.20 million for the quarter, compared to analyst estimates of $135.27 million. Cathay General Bancorp had a return on equity of 10.60% and a net margin of 33.87%. The firm’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.58 earnings per share.
A number of equities analysts have recently commented on CATY shares. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $37.00 price objective on shares of Cathay General Bancorp in a research note on Tuesday, July 25th. BMO Capital Markets lifted their price objective on Cathay General Bancorp from $44.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, November 3rd. Zacks Investment Research upgraded Cathay General Bancorp from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a research note on Wednesday, October 11th. Piper Jaffray Companies reiterated a “buy” rating and issued a $43.00 price objective on shares of Cathay General Bancorp in a research note on Friday, October 6th. Finally, Royal Bank Of Canada lifted their price objective on Cathay General Bancorp from $35.00 to $43.00 and gave the stock an “outperform” rating in a research note on Thursday, July 20th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $42.14.
Cathay General Bancorp (NASDAQ:CATY) traded up $0.69 during trading on Tuesday, hitting $40.00. The stock had a trading volume of 373,200 shares, compared to its average volume of 390,661. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $3,177.03, a price-to-earnings ratio of 15.79, a PEG ratio of 1.97 and a beta of 1.34. Cathay General Bancorp has a twelve month low of $34.00 and a twelve month high of $42.64.
TRADEMARK VIOLATION WARNING: This article was originally published by American Banking News and is the sole property of of American Banking News. If you are reading this article on another website, it was stolen and republished in violation of United States & international copyright law. The legal version of this article can be read at https://www.americanbankingnews.com/2017/11/14/zacks-brokerages-anticipate-cathay-general-bancorp-caty-to-announce-0-63-earnings-per-share.html.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Alps Advisors Inc. increased its stake in Cathay General Bancorp by 0.3% during the second quarter. Alps Advisors Inc. now owns 12,271 shares of the bank’s stock valued at $466,000 after acquiring an additional 31 shares during the period. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its stake in Cathay General Bancorp by 0.4% during the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 14,626 shares of the bank’s stock valued at $555,000 after acquiring an additional 52 shares during the period. Los Angeles Capital Management & Equity Research Inc. increased its stake in Cathay General Bancorp by 0.5% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 19,343 shares of the bank’s stock valued at $734,000 after acquiring an additional 100 shares during the period. Teacher Retirement System of Texas increased its stake in Cathay General Bancorp by 1.7% during the second quarter. Teacher Retirement System of Texas now owns 6,069 shares of the bank’s stock valued at $230,000 after acquiring an additional 101 shares during the period. Finally, Pinebridge Investments L.P. increased its stake in Cathay General Bancorp by 0.6% during the second quarter. Pinebridge Investments L.P. now owns 40,055 shares of the bank’s stock valued at $1,521,000 after acquiring an additional 244 shares during the period. Hedge funds and other institutional investors own 67.94% 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cathay General Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cathay General Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.