Cathay General Bancorp (NASDAQ:CATY) has been given an average rating of “Hold” by the eight brokerages that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $41.33.

CATY has been the subject of several research reports. Piper Jaffray Companies restated a “buy” rating and issued a $42.00 price objective on shares of Cathay General Bancorp in a research report on Wednesday, July 12th. BidaskClub cut shares of Cathay General Bancorp from a “hold” rating to a “sell” rating in a research report on Sunday, July 16th. Royal Bank Of Canada raised their price objective on shares of Cathay General Bancorp from $35.00 to $43.00 and gave the company an “outperform” rating in a research report on Thursday, July 20th. Zacks Investment Research raised shares of Cathay General Bancorp from a “hold” rating to a “strong-buy” rating and set a $44.00 target price on the stock in a research note on Friday, July 21st. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $37.00 target price on shares of Cathay General Bancorp in a research note on Tuesday, July 25th.

A number of institutional investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Cathay General Bancorp by 9.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,029 shares of the bank’s stock valued at $115,000 after buying an additional 252 shares in the last quarter. Flinton Capital Management LLC lifted its stake in Cathay General Bancorp by 65.9% in the second quarter. Flinton Capital Management LLC now owns 3,584 shares of the bank’s stock valued at $136,000 after buying an additional 1,424 shares in the last quarter. Riverhead Capital Management LLC lifted its stake in Cathay General Bancorp by 63.5% in the second quarter. Riverhead Capital Management LLC now owns 3,924 shares of the bank’s stock valued at $149,000 after buying an additional 1,524 shares in the last quarter. Oakbrook Investments LLC bought a new position in Cathay General Bancorp in the second quarter valued at approximately $211,000. Finally, Shelton Capital Management bought a new position in Cathay General Bancorp in the second quarter valued at approximately $215,000. 68.03% of the stock is currently owned by institutional investors and hedge funds.

Shares of Cathay General Bancorp (NASDAQ CATY) traded down $0.11 during midday trading on Wednesday, reaching $41.66. The company’s stock had a trading volume of 61,272 shares, compared to its average volume of 350,457. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.04 and a current ratio of 1.05. The firm has a market capitalization of $3,375.71, a P/E ratio of 16.77, a price-to-earnings-growth ratio of 2.10 and a beta of 1.34. Cathay General Bancorp has a 12-month low of $28.87 and a 12-month high of $42.64.

Cathay General Bancorp (NASDAQ:CATY) last posted its quarterly earnings data on Wednesday, October 25th. The bank reported $0.61 earnings per share for the quarter, beating 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 net margin of 33.87% and a return on equity of 10.60%. The company’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.58 EPS. equities research analysts forecast that Cathay General Bancorp will post 2.49 EPS for the current year.

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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.

Analyst Recommendations for Cathay General Bancorp (NASDAQ:CATY)

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