Cathay General Bancorp Plans Quarterly Dividend of $0.38 (NASDAQ:CATY)

Cathay General Bancorp (NASDAQ:CATY) declared a quarterly dividend on Friday, May 15th. Investors of record on Thursday, May 28th will be paid a dividend of 0.38 per share by the bank on Tuesday, June 9th. This represents a c) dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Thursday, May 28th.

Cathay General Bancorp has raised its dividend payment by an average of 0.0%per year over the last three years. Cathay General Bancorp has a dividend payout ratio of 30.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Cathay General Bancorp to earn $5.73 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 26.5%.

Cathay General Bancorp Price Performance

Shares of Cathay General Bancorp stock opened at $57.27 on Tuesday. The stock has a 50 day moving average of $53.15 and a 200 day moving average of $51.12. Cathay General Bancorp has a 12 month low of $41.83 and a 12 month high of $58.00. The firm has a market cap of $3.84 billion, a PE ratio of 11.81 and a beta of 0.87. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.04.

Cathay General Bancorp (NASDAQ:CATY) last announced its quarterly earnings results on Wednesday, April 22nd. The bank reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.10. Cathay General Bancorp had a return on equity of 11.37% and a net margin of 23.79%.The company had revenue of $213.20 million during the quarter, compared to analyst estimates of $211.27 million. During the same period in the prior year, the company earned $0.98 earnings per share. The firm’s revenue was up 14.4% on a year-over-year basis. On average, research analysts expect that Cathay General Bancorp will post 5.4 EPS for the current fiscal year.

Cathay General Bancorp Company Profile

Cathay General Bancorp is a bank holding company headquartered in Los Angeles, California, trading on NASDAQ under the symbol CATY. Its principal subsidiary, Cathay Bank, provides a full suite of financial services to commercial, institutional and retail clients. As a community-focused institution, the company emphasizes relationship banking and tailored solutions for businesses and individuals.

Founded in 1962 by a group of Chinese American entrepreneurs, Cathay has expanded from a single branch operation in downtown Los Angeles into one of the largest Asian-American banks in the United States.