Cathay General Bancorp (CATY) Scheduled to Post Quarterly Earnings on Wednesday
Cathay General Bancorp (NASDAQ:CATY) will be posting its quarterly earnings results after the market closes on Wednesday, October 19th. Analysts expect Cathay General Bancorp to post earnings of $0.59 per share for the quarter.
Cathay General Bancorp (NASDAQ:CATY) last announced its quarterly earnings results on Wednesday, July 20th. The company reported $0.44 EPS for the quarter, hitting the consensus estimate of $0.44. Cathay General Bancorp had a net margin of 31.20% and a return on equity of 9.23%. During the same period in the previous year, the company posted $0.56 EPS. On average, analysts expect Cathay General Bancorp to post $2.24 EPS for the current fiscal year and $2.28 EPS for the next fiscal year.
Shares of Cathay General Bancorp (NASDAQ:CATY) opened at 30.37 on Tuesday. The stock has a market cap of $2.40 billion, a PE ratio of 15.34 and a beta of 1.28. The firm has a 50-day moving average of $30.90 and a 200 day moving average of $30.04. Cathay General Bancorp has a 52 week low of $25.62 and a 52 week high of $34.69.
A number of research analysts have issued reports on the stock. Zacks Investment Research raised shares of Cathay General Bancorp from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a report on Monday, September 12th. Keefe, Bruyette & Woods increased their price objective on shares of Cathay General Bancorp from $31.00 to $32.00 and gave the stock a “market perform” rating in a research note on Monday, July 11th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $32.00 price objective (down previously from $33.00) on shares of Cathay General Bancorp in a research note on Wednesday, July 6th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Cathay General Bancorp presently has a consensus rating of “Hold” and a consensus target price of $33.00.
In related news, Vice Chairman Peter Wu sold 30,000 shares of the firm’s stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $31.30, for a total transaction of $939,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 6.36% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. US Bancorp DE raised its stake in Cathay General Bancorp by 13.1% in the second quarter. US Bancorp DE now owns 4,074 shares of the company’s stock valued at $115,000 after buying an additional 473 shares in the last quarter. BlackRock Japan Co. Ltd raised its stake in Cathay General Bancorp by 23.0% in the second quarter. BlackRock Japan Co. Ltd now owns 4,388 shares of the company’s stock valued at $124,000 after buying an additional 820 shares in the last quarter. Capital Guardian Trust Co. raised its stake in Cathay General Bancorp by 43.9% in the second quarter. Capital Guardian Trust Co. now owns 5,837 shares of the company’s stock valued at $165,000 after buying an additional 1,782 shares in the last quarter. Pacad Investment Ltd. purchased a new stake in Cathay General Bancorp during the second quarter valued at approximately $234,000. Finally, Engineers Gate Manager LP purchased a new stake in Cathay General Bancorp during the second quarter valued at approximately $253,000. Institutional investors own 66.26% 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); approximately seven limited partnerships investing in affordable housing investments, in which the Bank is the sole limited partner; GBC Venture Capital, Inc, and Asia Realty Corp.
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