Cathay General Bancorp (NASDAQ: CATY) – DA Davidson stock research analysts increased their 2021 earnings estimates for Cathay General Bancorp stocks in a report released on Tuesday, October 26. DA Davidson analyst G. Tenner now predicts the bank will post earnings of $ 3.74 per share for the year, up from its previous estimate of $ 3.67. DA Davidson currently has a “Neutral” rating on the stock. DA Davidson also released estimates for Cathay General Bancorp’s fourth quarter 2021 earnings at $ 0.91 per share.

Several other research companies have also weighed on CATY. Truist raised its price target for Cathay General Bancorp stock from $ 40.00 to $ 44.00 and assigned the stock a “hold” rating in a research note on Monday, August 30. Truist Securities raised its target price for Cathay General Bancorp shares from $ 40.00 to $ 44.00 and assigned the stock a “hold” rating in a report released on Monday, August 30. Ultimately, Zacks investment research upgraded Cathay General Bancorp shares from a “hold” rating to a “buy” rating and set a target price of $ 45 for the company in a report released on Wednesday, September 1. Four equity research analysts rated the stock with a conservation rating and one assigned a buy rating to the stock. Based on MarketBeat data, Cathay General Bancorp has an average “Hold” rating and an average target price of $ 45.

CATY shares opened at $ 42.65 on Wednesday. The company has a current ratio of 1.05, a quick ratio of 1.05, and a debt ratio of 0.07. Cathay General Bancorp has a one-year low at $ 22.39 and a one-year high at $ 45.19. The company’s fifty-day moving average price is $ 40.31 and its two hundred-day moving average price is $ 40.20. The company has a market cap of $ 3.33 billion, a P / E ratio of 12.22 and a beta of 1.51. Cathay General Bancorp (NASDAQ: CATY) last released its quarterly earnings data on Sunday, October 24. The bank reported EPS of $ 0.93 for the quarter, beating analyst consensus estimates of $ 0.91 by $ 0.02. Cathay General Bancorp had a net margin of 39.05% and a return on equity of 11.47%. The company posted revenue of $ 164.70 million for the quarter, compared to analysts’ estimates of $ 164.30 million. During the same period last year, the company posted earnings per share of $ 0.71. The company’s quarterly revenue increased 2.6% year-over-year.

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The company also recently announced a quarterly dividend, which was paid on Thursday, September 9. Investors of record on Monday, August 30, received a dividend of $ 0.31 per share. This represents an annualized dividend of $ 1.24 and a return of 2.91%. The ex-dividend date of this dividend was Friday, August 27. Cathay General Bancorp’s dividend payout ratio is currently 43.21%.

In related news, vice president Peter Wu sold 20,000 shares in a trade on Friday August 27. The shares were sold at an average price of $ 39.74, for a total trade of $ 794,800.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 4.23% of the shares are held by insiders.

Hedge funds have recently changed their positions in the company. Vanguard Group Inc. strengthened its position in Cathay General Bancorp by 2.5% in the second quarter. Vanguard Group Inc. now owns 7,396,002 shares of the bank valued at $ 291,107,000 after purchasing an additional 177,449 shares during the period. State Street Corp increased its position in Cathay General Bancorp by 6.9% in the second quarter. State Street Corp now owns 3,727,585 shares of the bank valued at $ 146,718,000 after purchasing an additional 241,094 shares in the last quarter. Principal Financial Group Inc. increased its position in Cathay General Bancorp by 2.3% in the second quarter. Principal Financial Group Inc. now owns 1,708,887 shares of the bank valued at $ 67,261,000 after purchasing an additional 38,696 shares in the last quarter. FMR LLC increased its stake in the shares of Cathay General Bancorp by 19.6% during the second quarter. FMR LLC now owns 1,549,096 shares of the bank valued at $ 60,972,000 after acquiring an additional 253,749 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in the shares of Cathay General Bancorp by 2.9% during the second quarter. Geode Capital Management LLC now owns 1,449,429 shares of the bank valued at $ 57,049,000 after acquiring an additional 40,407 shares in the last quarter. Institutional investors hold 68.73% of the shares of the company.

About Cathay General Bancorp

Cathay General Bancorp is a holding company which provides financial services. It offers commercial mortgages, commercial loans, small business administration loans, residential mortgages, real estate construction loans, home equity lines of credit and personal installment loans for expenses. automobiles, housework and other consumer expenses.

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Cathay General Bancorp Profit History and Estimates (NASDAQ: CATY)

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