Cathay General Bancorp (NASDAQ:CATY) – Equities research analysts at DA Davidson raised their FY2018 earnings estimates for shares of Cathay General Bancorp in a report issued on Thursday, October 18th. DA Davidson analyst G. Tenner now expects that the bank will post earnings per share of $3.32 for the year, up from their prior estimate of $3.23. DA Davidson also issued estimates for Cathay General Bancorp’s Q1 2019 earnings at $0.81 EPS, Q2 2019 earnings at $0.87 EPS, Q3 2019 earnings at $0.87 EPS, Q4 2019 earnings at $0.88 EPS and FY2019 earnings at $3.42 EPS.
Cathay General Bancorp (NASDAQ:CATY) last released its quarterly earnings results on Wednesday, October 17th. The bank reported $0.85 earnings per share for the quarter, meeting the consensus estimate of $0.85. The business had revenue of $152.92 million during the quarter, compared to analysts’ expectations of $153.90 million. Cathay General Bancorp had a return on equity of 12.80% and a net margin of 33.74%. During the same quarter last year, the business posted $0.61 EPS.
Several other equities analysts have also recently weighed in on the company. BidaskClub cut Cathay General Bancorp from a “sell” rating to a “strong sell” rating in a report on Thursday, September 20th. Keefe, Bruyette & Woods restated a “hold” rating and set a $47.00 price target on shares of Cathay General Bancorp in a report on Friday, July 20th. ValuEngine upgraded Cathay General Bancorp from a “sell” rating to a “hold” rating in a report on Monday, October 8th. Finally, Zacks Investment Research upgraded Cathay General Bancorp from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a report on Friday, July 20th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. Cathay General Bancorp currently has a consensus rating of “Hold” and a consensus price target of $47.31.
NASDAQ CATY opened at $38.81 on Friday. The company has a market cap of $3.24 billion, a price-to-earnings ratio of 15.95, a PEG ratio of 1.52 and a beta of 1.27. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.04 and a quick ratio of 1.04. Cathay General Bancorp has a 1-year low of $38.03 and a 1-year high of $45.59.
Several institutional investors have recently made changes to their positions in the company. Alpha Windward LLC boosted its holdings in shares of Cathay General Bancorp by 1,699.2% in the 3rd quarter. Alpha Windward LLC now owns 13,278 shares of the bank’s stock worth $550,000 after purchasing an additional 12,540 shares during the period. First Hawaiian Bank purchased a new position in shares of Cathay General Bancorp in the 3rd quarter worth approximately $356,000. Bank of Montreal Can boosted its holdings in shares of Cathay General Bancorp by 32.1% in the 3rd quarter. Bank of Montreal Can now owns 124,651 shares of the bank’s stock worth $5,165,000 after purchasing an additional 30,279 shares during the period. Aurora Investment Counsel purchased a new position in shares of Cathay General Bancorp in the 3rd quarter worth approximately $1,803,000. Finally, United Services Automobile Association boosted its holdings in shares of Cathay General Bancorp by 86.4% in the 2nd quarter. United Services Automobile Association now owns 117,124 shares of the bank’s stock worth $4,742,000 after purchasing an additional 54,278 shares during the period. Hedge funds and other institutional investors own 70.52% of the company’s stock.
In other news, EVP Lisa L. Kim sold 750 shares of Cathay General Bancorp stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $42.06, for a total value of $31,545.00. Following the completion of the transaction, the executive vice president now owns 805 shares in the company, valued at approximately $33,858.30. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Vice Chairman Anthony M. Tang sold 10,000 shares of Cathay General Bancorp stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $42.50, for a total value of $425,000.00. Following the completion of the transaction, the insider now owns 268,225 shares of the company’s stock, valued at approximately $11,399,562.50. The disclosure for this sale can be found here. Insiders have sold a total of 44,330 shares of company stock valued at $1,883,695 in the last 90 days. 4.90% of the stock is currently 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.
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