Cathay General Bancorp (NASDAQ:CATY) to Issue Quarterly Dividend of $0.34

Cathay General Bancorp (NASDAQ:CATY) declared a quarterly dividend on Friday, February 14th,RTT News reports. Shareholders of record on Thursday, February 27th will be paid a dividend of 0.34 per share by the bank on Monday, March 10th. This represents a $1.36 dividend on an annualized basis and a yield of 2.92%.

Cathay General Bancorp has increased its dividend by an average of 2.3% annually over the last three years. Cathay General Bancorp has a dividend payout ratio of 29.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Cathay General Bancorp to earn $4.48 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 30.4%.

Cathay General Bancorp Stock Down 0.0 %

Shares of Cathay General Bancorp stock opened at $46.58 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.03 and a current ratio of 1.03. Cathay General Bancorp has a 52-week low of $33.88 and a 52-week high of $55.29. The stock has a market capitalization of $3.32 billion, a price-to-earnings ratio of 11.76 and a beta of 1.12. The company’s 50 day moving average price is $47.86 and its 200-day moving average price is $46.23.

Cathay General Bancorp (NASDAQ:CATY) last issued its earnings results on Wednesday, January 22nd. The bank reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.02. Cathay General Bancorp had a net margin of 20.57% and a return on equity of 10.70%. Equities research analysts forecast that Cathay General Bancorp will post 4.29 EPS for the current year.

Analyst Ratings Changes

CATY has been the topic of several recent analyst reports. Keefe, Bruyette & Woods cut their target price on shares of Cathay General Bancorp from $56.00 to $55.00 and set a “market perform” rating on the stock in a report on Thursday, January 23rd. Stephens reduced their price objective on shares of Cathay General Bancorp from $60.00 to $57.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Piper Sandler dropped their target price on shares of Cathay General Bancorp from $45.00 to $43.00 and set an “underweight” rating for the company in a research report on Monday, January 27th. Finally, Wedbush boosted their price target on shares of Cathay General Bancorp from $50.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Cathay General Bancorp presently has a consensus rating of “Hold” and a consensus price target of $50.80.

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.