DA Davidson Comments on Cathay General Bancorp’s FY2025 Earnings (NASDAQ:CATY)

Cathay General Bancorp (NASDAQ:CATY) – Analysts at DA Davidson boosted their FY2025 earnings per share estimates for shares of Cathay General Bancorp in a research note issued to investors on Tuesday, April 23rd. DA Davidson analyst G. Tenner now forecasts that the bank will post earnings per share of $4.49 for the year, up from their prior estimate of $4.46. The consensus estimate for Cathay General Bancorp’s current full-year earnings is $3.92 per share.

CATY has been the subject of several other research reports. Truist Financial lowered their price target on Cathay General Bancorp from $46.00 to $40.00 and set a “hold” rating for the company in a report on Monday, April 1st. Wedbush restated an “outperform” rating and issued a $44.00 price target on shares of Cathay General Bancorp in a report on Tuesday. Keefe, Bruyette & Woods lowered their price target on Cathay General Bancorp from $46.00 to $41.00 and set a “market perform” rating for the company in a report on Tuesday. Finally, StockNews.com cut Cathay General Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, April 6th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $39.40.

Cathay General Bancorp Stock Up 1.8 %

CATY opened at $35.53 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.04 and a quick ratio of 1.05. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of 7.86 and a beta of 1.12. The business has a 50-day moving average of $37.83 and a two-hundred day moving average of $38.81. Cathay General Bancorp has a 12 month low of $27.24 and a 12 month high of $45.72.

Cathay General Bancorp (NASDAQ:CATY) last posted its quarterly earnings data on Monday, April 22nd. The bank reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.04). The company had revenue of $339.25 million for the quarter, compared to analysts’ expectations of $188.85 million. Cathay General Bancorp had a return on equity of 13.02% and a net margin of 24.41%. During the same quarter in the prior year, the business posted $1.32 EPS.

Hedge Funds Weigh In On Cathay General Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank purchased a new position in Cathay General Bancorp in the 4th quarter worth approximately $34,563,000. Vanguard Group Inc. boosted its holdings in Cathay General Bancorp by 10.3% in the 3rd quarter. Vanguard Group Inc. now owns 8,058,670 shares of the bank’s stock worth $280,119,000 after acquiring an additional 749,370 shares during the period. Assenagon Asset Management S.A. purchased a new position in Cathay General Bancorp in the 3rd quarter worth approximately $25,138,000. Jupiter Asset Management Ltd. boosted its holdings in Cathay General Bancorp by 280.1% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 334,678 shares of the bank’s stock worth $11,633,000 after acquiring an additional 246,622 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new position in Cathay General Bancorp in the 3rd quarter worth approximately $6,013,000. 75.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Vice Chairman Anthony M. Tang sold 7,000 shares of Cathay General Bancorp stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $43.45, for a total value of $304,150.00. Following the transaction, the insider now directly owns 204,500 shares of the company’s stock, valued at approximately $8,885,525. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.76% of the company’s stock.

Cathay General Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Wednesday, February 28th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 3.83%. The ex-dividend date was Tuesday, February 27th. Cathay General Bancorp’s dividend payout ratio is currently 30.09%.

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.