Analysts Anticipate Cathay General Bancorp (CATY) to Announce $0.63 Earnings Per Share
Analysts expect Cathay General Bancorp (NASDAQ:CATY) to report earnings per share of $0.63 for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Cathay General Bancorp’s earnings. The highest EPS estimate is $0.65 and the lowest is $0.61. Cathay General Bancorp reported earnings of $0.60 per share in the same quarter last year, which would indicate a positive year over year growth rate of 5%. The business is expected to announce its next earnings results on Wednesday, January 24th.
According to Zacks, analysts expect that Cathay General Bancorp will report full year earnings of $2.49 per share for the current financial year, with EPS estimates ranging from $2.47 to $2.51. For the next financial year, analysts forecast that the firm will report earnings of $2.71 per share, with EPS estimates ranging from $2.67 to $2.79. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for Cathay General Bancorp.
Cathay General Bancorp (NASDAQ:CATY) last posted its earnings results on Wednesday, October 25th. The bank reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.01. The firm 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%. The firm’s revenue was up 29.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.58 earnings per share.
Cathay General Bancorp (NASDAQ:CATY) traded up $0.15 during mid-day trading on Friday, reaching $43.54. The company had a trading volume of 564,101 shares, compared to its average volume of 416,274. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.05 and a current ratio of 1.05. Cathay General Bancorp has a 12-month low of $34.00 and a 12-month high of $45.54. The stock has a market capitalization of $3,520.00, a PE ratio of 17.43, a price-to-earnings-growth ratio of 2.18 and a beta of 1.34.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, December 1st will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Thursday, November 30th. This is a boost from Cathay General Bancorp’s previous quarterly dividend of $0.21. Cathay General Bancorp’s dividend payout ratio is 39.02%.
In other news, COO Irwin Wong sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $43.10, for a total transaction of $431,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.76% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in Cathay General Bancorp by 7.0% during the second quarter. BlackRock Inc. now owns 8,511,095 shares of the bank’s stock worth $322,995,000 after acquiring an additional 554,856 shares during the period. State Street Corp grew its holdings in Cathay General Bancorp by 6.3% in the second quarter. State Street Corp now owns 3,810,885 shares of the bank’s stock valued at $144,623,000 after purchasing an additional 227,348 shares during the last quarter. Northern Trust Corp grew its holdings in Cathay General Bancorp by 11.9% in the second quarter. Northern Trust Corp now owns 2,450,360 shares of the bank’s stock valued at $92,992,000 after purchasing an additional 261,148 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Cathay General Bancorp by 0.5% in the third quarter. Bank of New York Mellon Corp now owns 1,469,247 shares of the bank’s stock valued at $59,065,000 after purchasing an additional 7,251 shares during the last quarter. Finally, Prudential Financial Inc. grew its holdings 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 last quarter. 67.60% of the stock is currently owned by hedge funds and other institutional investors.
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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.
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