Stock Analysts Set Cathay General Bancorp Earnings Expectations for Fiscal Year 2021 (NASDAQ: CATY)
Cathay General Bancorp (NASDAQ: CATY) – Wedbush raised its earnings per share (EPS) estimate for fiscal 2021 for Cathay General Bancorp in a report released on Monday, January 3. Wedbush analyst D. Chiaverini now expects the bank to post earnings of $ 3.78 per share for the year, up from its previous estimate of $ 3.74. Cathay General Bancorp (NASDAQ: CATY) last released its results on Sunday, October 24. The bank reported earnings per share (EPS) of $ 0.93 for the quarter, beating Thomson Reuters’ consensus estimate of $ 0.91 of $ 0.02. The company posted revenue of $ 164.70 million in the quarter, compared to analysts’ expectations of $ 164.30 million. Cathay General Bancorp recorded a return on equity of 12.00% and a net margin of 41.32%. The company’s quarterly revenue increased 2.6% year-over-year. During the same period of the previous year, the company made EPS of $ 0.71.
Separately, Zacks Investment Research upgraded Cathay General Bancorp from a “hold” rating to a “buy” rating and set a price target of $ 49.00 for the stock in a research report released Tuesday. Four analysts rated the stock with a conservation rating and one gave the stock a buy rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $ 46.00.
NASDAQ CATY opened at $ 44.55 on Wednesday. The company’s fifty-day simple moving average is $ 43.46. Cathay General Bancorp has a twelve month low of $ 31.51 and a twelve month high of $ 46.42. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt ratio of 0.07. The stock has a market cap of $ 3.44 billion, a PE ratio of 12.01 and a beta of 1.37.
Large investors have recently changed their positions in the company. Jefferies Group LLC purchased a new stake in Cathay General Bancorp shares in the third quarter valued at approximately $ 240,000. UBS Asset Management Americas Inc. strengthened its position in Cathay General Bancorp shares by 3.5% in the third quarter. UBS Asset Management Americas Inc. now owns 81,280 shares of the bank valued at $ 3,364,000 after purchasing an additional 2,786 shares during the period. Bank of New York Mellon Corp increased its position in Cathay General Bancorp shares by 3.1% in the third quarter. Bank of New York Mellon Corp now owns 1,224,472 shares of the bank valued at $ 50,681,000 after purchasing an additional 37,381 shares during the period. Schonfeld Strategic Advisors LLC increased its position in Cathay General Bancorp shares by 18.2% in the third quarter. Schonfeld Strategic Advisors LLC now owns 59,100 shares of the bank valued at $ 2,446,000 after purchasing an additional 9,100 shares during the period. Finally, Captrust Financial Advisors strengthened its position in Cathay General Bancorp shares by 3.0% in the third quarter. Captrust Financial Advisors now owns 23,427 shares of the bank valued at $ 970,000 after purchasing an additional 684 shares during the period. 68.71% of the shares are held by institutional investors and hedge funds.
Meanwhile, executive vice president Kim R. Bingham sold 3,000 company shares in a trade on Friday, October 29. The stock was sold for an average price of $ 42.68, for a total value of $ 128,040.00. The transaction was disclosed in a legal file with the Securities & Exchange Commission, which is available on the SEC website. Insiders hold 4.23% of the company’s shares.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 9. Investors of record on Monday, November 29, received a dividend of $ 0.44 per share. The ex-dividend date of this dividend was Friday, November 26. This is an increase from Cathay General Bancorp’s previous quarterly dividend of $ 0.31. This represents an annualized dividend of $ 1.76 and a return of 3.95%. Cathay General Bancorp’s payout ratio is currently 36.66%.
Cathay General Bancorp Company Profile
Cathay General Bancorp is a holding company which provides financial services. It offers commercial mortgages, business loans, small business administration loans, residential mortgages, real estate construction loans, home equity lines of credit and personal installment loans for expenses. automobiles, household and other consumer expenses.
Read more: Trading Options – What is a bottleneck?
This instant news alert was powered by storytelling technology and financial data from MarketBeat to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team before publication. Please send any questions or comments about this story to [email protected]
Should you invest $ 1,000 in Cathay General Bancorp now?
Before you consider Cathay General Bancorp, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly asking their clients to buy now before the broader market takes hold of … and Cathay General Bancorp was not on the list.
While Cathay General Bancorp currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better bets.
See the 5 actions here