FY2025 EPS Estimates for Cathay General Bancorp (NASDAQ:CATY) Boosted by DA Davidson

Cathay General Bancorp (NASDAQ:CATY) – DA Davidson lifted their FY2025 earnings per share (EPS) estimates for Cathay General Bancorp in a research report issued on Tuesday, April 23rd. DA Davidson analyst G. Tenner now expects that the bank will post earnings per share of $4.49 for the year, up from their prior forecast of $4.46. The consensus estimate for Cathay General Bancorp’s current full-year earnings is $3.94 per share.

CATY has been the subject of several other reports. Wedbush reissued an “outperform” rating and set a $44.00 price target on shares of Cathay General Bancorp in a report on Tuesday. Truist Financial dropped their price target on Cathay General Bancorp from $40.00 to $38.00 and set a “hold” rating for the company in a report on Thursday. Keefe, Bruyette & Woods dropped 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 research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Cathay General Bancorp currently has a consensus rating of “Hold” and a consensus price target of $39.00.

Cathay General Bancorp Stock Performance

NASDAQ:CATY opened at $35.04 on Thursday. The stock has a market cap of $2.55 billion, a P/E ratio of 7.75 and a beta of 1.12. The stock has a 50 day simple moving average of $37.61 and a 200 day simple moving average of $38.79. The company has a current ratio of 1.04, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. Cathay General Bancorp has a 1-year low of $27.24 and a 1-year high of $45.72.

Cathay General Bancorp (NASDAQ:CATY) last released its quarterly earnings results on Monday, April 22nd. The bank reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.04). The firm had revenue of $339.25 million for the quarter, compared to analyst estimates 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 period in the previous year, the business posted $1.32 earnings per share.

Hedge Funds Weigh In On Cathay General Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Cathay General Bancorp by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 8,254,816 shares of the bank’s stock valued at $367,917,000 after purchasing an additional 196,146 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Cathay General Bancorp by 4.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,850,356 shares of the bank’s stock worth $171,613,000 after acquiring an additional 150,331 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Cathay General Bancorp by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,053,405 shares of the bank’s stock worth $91,520,000 after acquiring an additional 25,421 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Cathay General Bancorp by 4.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,654,350 shares of the bank’s stock worth $57,505,000 after acquiring an additional 75,749 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in Cathay General Bancorp by 8.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,540,402 shares of the bank’s stock worth $53,543,000 after acquiring an additional 124,851 shares during the last quarter. Institutional investors own 75.01% of the company’s stock.

Insider Activity

In other news, Vice Chairman Anthony M. Tang sold 7,000 shares of Cathay General Bancorp stock in a transaction on 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 owns 204,500 shares in the company, valued at approximately $8,885,525. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 4.76% of the company’s stock.

Cathay General Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Wednesday, February 28th were paid a $0.34 dividend. The ex-dividend date was Tuesday, February 27th. This represents a $1.36 annualized dividend and a dividend yield of 3.88%. Cathay General Bancorp’s payout ratio is 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.