Cathay General Bancorp (CATY) Scheduled to Post Quarterly Earnings on Tuesday

Cathay General Bancorp (NASDAQ:CATY) is scheduled to issue its quarterly earnings data after the market closes on Tuesday, January 30th. Analysts expect the company to announce earnings of $0.63 per share for the quarter.

Cathay General Bancorp (NASDAQ:CATY) last announced its earnings results on Wednesday, October 25th. The bank reported $0.61 earnings per share (EPS) for the quarter, topping the Zacks’ 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 company had revenue of $146.20 million for the quarter, compared to analyst estimates of $135.27 million. During the same period in the prior year, the business earned $0.58 earnings per share. Cathay General Bancorp’s quarterly revenue was up 29.8% on a year-over-year basis. On average, analysts expect Cathay General Bancorp to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Cathay General Bancorp (NASDAQ CATY) opened at $45.12 on Tuesday. Cathay General Bancorp has a 12-month low of $34.00 and a 12-month high of $45.54. The stock has a market cap of $3,618.31, a P/E ratio of 18.34, a PEG ratio of 1.96 and a beta of 1.35. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.05 and a current ratio of 1.05.

In other Cathay General Bancorp news, insider Dunson K. Cheng sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $42.45, for a total value of $2,122,500.00. Following the completion of the sale, the insider now owns 119,591 shares of the company’s stock, valued at $5,076,637.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Irwin Wong sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $43.10, for a total transaction of $431,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,059 shares of company stock valued at $2,807,978. 5.76% of the stock is currently owned by insiders.

CATY has been the topic of a number of research reports. Zacks Investment Research upgraded shares of Cathay General Bancorp from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a research report on Wednesday, October 11th. Piper Jaffray Companies reiterated 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 reiterated a “buy” rating and set a $44.00 target price on shares of Cathay General Bancorp in a research report on Thursday, October 5th. BidaskClub raised shares of Cathay General Bancorp from a “hold” rating to a “buy” rating in a research note on Tuesday, January 16th. Finally, Sandler O’Neill reissued a “hold” rating and set a $45.00 price target on shares of Cathay General Bancorp in a research note on Thursday, January 4th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $44.50.

TRADEMARK VIOLATION NOTICE: This article was posted by American Banking News and is the property of of American Banking News. If you are reading this article on another site, it was illegally copied and republished in violation of U.S. and international copyright & trademark laws. The original version of this article can be viewed at https://www.americanbankingnews.com/2018/01/23/cathay-general-bancorp-caty-scheduled-to-post-quarterly-earnings-on-tuesday.html.

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 for Cathay General Bancorp (NASDAQ:CATY)

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.

Leave a Reply