Cathay General Bancorp (NASDAQ:CATY) Issues Earnings Results

Cathay General Bancorp (NASDAQ:CATY) issued its quarterly earnings results on Monday. The bank reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01), Briefing.com reports. Cathay General Bancorp had a net margin of 22.08% and a return on equity of 11.96%. The business had revenue of $359.86 million during the quarter, compared to analysts’ expectations of $182.70 million. During the same period in the prior year, the company posted $1.13 EPS.

Cathay General Bancorp Trading Up 1.8 %

Cathay General Bancorp stock opened at $45.39 on Wednesday. Cathay General Bancorp has a 1 year low of $32.08 and a 1 year high of $46.70. The firm’s 50-day moving average is $43.13 and its 200-day moving average is $39.67. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market cap of $3.30 billion, a P/E ratio of 10.04 and a beta of 1.11.

Cathay General Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Thursday, August 29th were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.00%. Cathay General Bancorp’s dividend payout ratio (DPR) is 30.09%.

Analyst Ratings Changes

CATY has been the subject of several research analyst reports. Piper Sandler increased their target price on Cathay General Bancorp from $32.00 to $36.00 and gave the company an “underweight” rating in a research note on Tuesday, July 23rd. Wedbush increased their price objective on shares of Cathay General Bancorp from $44.00 to $50.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Truist Financial boosted their target price on shares of Cathay General Bancorp from $45.00 to $47.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. Finally, StockNews.com raised shares of Cathay General Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $43.50.

Insider Buying and Selling

In other news, Vice Chairman Peter Wu sold 20,000 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $45.19, for a total transaction of $903,800.00. Following the sale, the insider now directly owns 355,252 shares in the company, valued at approximately $16,053,837.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman Dunson K. Cheng sold 12,401 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $44.79, for a total transaction of $555,440.79. Following the completion of the transaction, the chairman now directly owns 149,566 shares in the company, valued at approximately $6,699,061.14. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Vice Chairman Peter Wu sold 20,000 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $45.19, for a total value of $903,800.00. Following the completion of the transaction, the insider now directly owns 355,252 shares of the company’s stock, valued at $16,053,837.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,401 shares of company stock worth $1,728,581 over the last quarter. 4.76% of the stock is owned by company insiders.

Cathay General Bancorp Company Profile

Cathay General Bancorp operates as the holding company for Cathay Bank that offers various commercial banking products and services to individuals, professionals, and small to medium-sized businesses in the United States. The company offers various deposit products, including passbook accounts, checking accounts, money market deposit accounts, certificates of deposit, individual retirement accounts, and public funds deposits.