Cathay General Bancorp (NASDAQ:CATY) Price Target Raised to $52.00 at DA Davidson

Cathay General Bancorp (NASDAQ:CATY) had its target price boosted by DA Davidson from $51.00 to $52.00 in a research report sent to investors on Thursday morning, Marketbeat.com reports. The firm currently has a neutral rating on the bank’s stock. DA Davidson also issued estimates for Cathay General Bancorp’s FY2025 earnings at $4.49 EPS and FY2026 earnings at $5.20 EPS.

A number of other analysts also recently issued reports on CATY. Keefe, Bruyette & Woods raised their price target on Cathay General Bancorp from $53.00 to $55.00 and gave the stock a “market perform” rating in a research report on Wednesday. Wall Street Zen upgraded Cathay General Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. Stephens downgraded Cathay General Bancorp from an “overweight” rating to an “equal weight” rating and set a $50.00 price target for the company. in a research report on Monday, August 4th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Cathay General Bancorp in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Cathay General Bancorp currently has a consensus rating of “Hold” and an average target price of $50.60.

Cathay General Bancorp Stock Down 0.1%

Shares of CATY opened at $46.14 on Thursday. The company has a market cap of $3.19 billion, a PE ratio of 10.66 and a beta of 0.94. The business has a fifty day moving average of $48.55 and a 200 day moving average of $45.65. Cathay General Bancorp has a 52-week low of $36.06 and a 52-week high of $55.29. The company has a quick ratio of 1.05, a current ratio of 1.04 and a debt-to-equity ratio of 0.11.

Cathay General Bancorp (NASDAQ:CATY) last issued its quarterly earnings results on Tuesday, October 21st. The bank reported $1.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.02). The company had revenue of $210.61 million during the quarter, compared to the consensus estimate of $202.71 million. Cathay General Bancorp had a return on equity of 10.60% and a net margin of 22.26%.During the same quarter in the prior year, the business earned $0.94 earnings per share. On average, sell-side analysts expect that Cathay General Bancorp will post 4.47 EPS for the current year.

Cathay General Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Thursday, August 28th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Thursday, August 28th. Cathay General Bancorp’s payout ratio is presently 32.85%.

Institutional Trading of Cathay General Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in CATY. Illinois Municipal Retirement Fund raised its holdings in shares of Cathay General Bancorp by 1.5% in the first quarter. Illinois Municipal Retirement Fund now owns 39,431 shares of the bank’s stock valued at $1,697,000 after acquiring an additional 572 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Cathay General Bancorp by 11.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 58,021 shares of the bank’s stock valued at $2,473,000 after acquiring an additional 5,785 shares in the last quarter. Teacher Retirement System of Texas bought a new position in Cathay General Bancorp in the first quarter worth about $426,000. Principal Financial Group Inc. raised its holdings in Cathay General Bancorp by 2.6% in the first quarter. Principal Financial Group Inc. now owns 354,457 shares of the bank’s stock worth $15,252,000 after purchasing an additional 8,860 shares in the last quarter. Finally, Moody Aldrich Partners LLC bought a new position in Cathay General Bancorp in the first quarter worth about $1,789,000. 75.01% of the stock is currently owned by institutional investors.

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.