Brokerages predict that Cathay General Bancorp (NASDAQ:CATY) will post $0.88 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Cathay General Bancorp’s earnings. The lowest EPS estimate is $0.86 and the highest is $0.90. Cathay General Bancorp posted earnings of $0.85 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 3.5%. The company is scheduled to issue its next quarterly earnings report after the market closes on Wednesday, October 16th.
According to Zacks, analysts expect that Cathay General Bancorp will report full-year earnings of $3.48 per share for the current fiscal year, with EPS estimates ranging from $3.42 to $3.52. For the next fiscal year, analysts forecast that the company will post earnings of $3.42 per share, with EPS estimates ranging from $3.37 to $3.50. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that follow Cathay General Bancorp.
Cathay General Bancorp (NASDAQ:CATY) last posted its quarterly earnings results on Wednesday, July 17th. The bank reported $0.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.04. Cathay General Bancorp had a return on equity of 12.73% and a net margin of 34.86%. The company had revenue of $156.17 million for the quarter, compared to analysts’ expectations of $154.13 million. During the same period last year, the firm earned $0.90 earnings per share.
A number of research firms have weighed in on CATY. Zacks Investment Research upgraded Cathay General Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, October 10th. ValuEngine upgraded Cathay General Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. BidaskClub upgraded Cathay General Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, September 12th. Finally, Piper Jaffray Companies set a $44.00 price target on Cathay General Bancorp and gave the company a “buy” rating in a research note on Monday, July 8th.
In other news, EVP Kim R. Bingham sold 3,400 shares of Cathay General Bancorp stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $36.21, for a total transaction of $123,114.00. Following the sale, the executive vice president now owns 25,269 shares in the company, valued at $914,990.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lisa L. Kim sold 3,745 shares of Cathay General Bancorp stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $34.70, for a total value of $129,951.50. Following the sale, the executive vice president now owns 3,288 shares in the company, valued at approximately $114,093.60. The disclosure for this sale can be found here. 4.73% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Oregon Public Employees Retirement Fund increased its position in shares of Cathay General Bancorp by 1.4% during the second quarter. Oregon Public Employees Retirement Fund now owns 31,145 shares of the bank’s stock worth $1,118,000 after purchasing an additional 437 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Cathay General Bancorp by 0.9% during the second quarter. Arizona State Retirement System now owns 55,425 shares of the bank’s stock worth $1,990,000 after buying an additional 510 shares during the last quarter. Parallel Advisors LLC purchased a new position in shares of Cathay General Bancorp during the second quarter worth about $37,000. Zebra Capital Management LLC grew its holdings in shares of Cathay General Bancorp by 16.4% during the second quarter. Zebra Capital Management LLC now owns 8,310 shares of the bank’s stock worth $298,000 after buying an additional 1,168 shares during the last quarter. Finally, Hillcrest Asset Management LLC grew its holdings in shares of Cathay General Bancorp by 0.6% during the second quarter. Hillcrest Asset Management LLC now owns 312,590 shares of the bank’s stock worth $11,225,000 after buying an additional 1,890 shares during the last quarter. Institutional investors and hedge funds own 71.17% of the company’s stock.
Cathay General Bancorp stock traded up $0.47 during midday trading on Thursday, reaching $34.95. The company’s stock had a trading volume of 8,104 shares, compared to its average volume of 295,485. Cathay General Bancorp has a fifty-two week low of $31.89 and a fifty-two week high of $40.70. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.34. The company has a market cap of $2.76 billion, a P/E ratio of 10.47, a P/E/G ratio of 1.24 and a beta of 1.28. The business has a 50-day simple moving average of $34.23 and a 200-day simple moving average of $35.11.
About Cathay General Bancorp
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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