Cathay General Bancorp (CATY) Declares Quarterly Dividend of $0.24
Cathay General Bancorp (NASDAQ:CATY) announced a quarterly dividend on Thursday, November 16th, RTT News reports. Shareholders of record on Friday, December 1st will be paid a dividend of 0.24 per share by the bank on Monday, December 11th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.36%. This is an increase from Cathay General Bancorp’s previous quarterly dividend of $0.21.
Cathay General Bancorp (NASDAQ:CATY) traded up $0.56 during midday trading on Thursday, hitting $40.67. 461,734 shares of the stock traded hands, compared to its average volume of 389,381. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.37. Cathay General Bancorp has a twelve month low of $34.00 and a twelve month high of $42.64. The stock has a market capitalization of $3,238.46, a price-to-earnings ratio of 16.09, a price-to-earnings-growth ratio of 2.01 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 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.01. Cathay General Bancorp had a net margin of 33.87% and a return on equity of 10.60%. The business had revenue of $146.20 million during the quarter, compared to analyst estimates of $135.27 million. During the same quarter last year, the firm posted $0.58 earnings per share. The business’s revenue for the quarter was up 29.8% compared to the same quarter last year. analysts forecast that Cathay General Bancorp will post 2.49 EPS for the current fiscal year.
A number of brokerages recently issued reports on CATY. Royal Bank Of Canada lifted their price target on shares of Cathay General Bancorp from $35.00 to $43.00 and gave the stock an “outperform” rating in a research note on Thursday, July 20th. Zacks Investment Research upgraded shares of Cathay General Bancorp from a “hold” rating to a “strong-buy” rating and set a $44.00 price target for the company in a research note on Friday, July 21st. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $37.00 price target on shares of Cathay General Bancorp in a research note on Tuesday, July 25th. BidaskClub downgraded shares of Cathay General Bancorp from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. Finally, SunTrust Banks, Inc. began coverage on shares of Cathay General Bancorp in a research note on Friday, August 18th. They issued a “hold” rating and a $39.00 price target for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $42.14.
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.
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