Cathay General Bancorp (NASDAQ:CATY) had its price target raised by BMO Capital Markets from $44.00 to $45.00 in a research note issued to investors on Friday, November 3rd. The firm currently has an outperform rating on the bank’s stock.
Several other equities research analysts have also weighed in on CATY. Piper Jaffray Companies reissued a buy rating and set a $42.00 target price on shares of Cathay General Bancorp in a research report on Wednesday, July 12th. BidaskClub downgraded Cathay General Bancorp from a hold rating to a sell rating in a research note on Sunday, July 16th. Royal Bank Of Canada lifted their target price on Cathay General Bancorp from $35.00 to $43.00 and gave the company an outperform rating in a research note on Thursday, July 20th. Zacks Investment Research upgraded Cathay General Bancorp from a hold rating to a strong-buy rating and set a $44.00 price target on the stock in a research note on Friday, July 21st. Finally, Keefe, Bruyette & Woods reaffirmed a hold rating and set a $37.00 price objective on shares of Cathay General Bancorp in a report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. Cathay General Bancorp has a consensus rating of Hold and an average target price of $42.14.
Cathay General Bancorp (NASDAQ:CATY) opened at $40.11 on Friday. Cathay General Bancorp has a twelve month low of $34.00 and a twelve month high of $42.64. The firm has a market capitalization of $3,238.46, a price-to-earnings ratio of 16.09, a PEG ratio of 2.01 and a beta of 1.34. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.37.
Cathay General Bancorp (NASDAQ:CATY) last posted its quarterly earnings results on Wednesday, October 25th. The bank reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The company had revenue of $146.20 million for the quarter, compared to analyst estimates of $135.27 million. Cathay General Bancorp had a return on equity of 10.60% and a net margin of 33.87%. Cathay General Bancorp’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.58 EPS. research analysts predict that Cathay General Bancorp will post 2.49 earnings per share for the current year.
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Institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Cathay General Bancorp by 9.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,029 shares of the bank’s stock worth $115,000 after purchasing an additional 252 shares during the period. Flinton Capital Management LLC raised its position in shares of Cathay General Bancorp by 65.9% during the 2nd quarter. Flinton Capital Management LLC now owns 3,584 shares of the bank’s stock worth $136,000 after purchasing an additional 1,424 shares during the period. Riverhead Capital Management LLC raised its position in shares of Cathay General Bancorp by 63.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,924 shares of the bank’s stock worth $149,000 after purchasing an additional 1,524 shares during the period. Allianz Asset Management GmbH acquired a new stake in shares of Cathay General Bancorp during the 3rd quarter worth approximately $206,000. Finally, Narus Financial Partners LLC acquired a new stake in shares of Cathay General Bancorp during the 3rd quarter worth approximately $207,000. Institutional investors and hedge funds own 67.94% of the company’s stock.
Cathay General Bancorp Company Profile
Cathay General Bancorp is a bank holding company. The Company holds Cathay Bank, a California state-chartered commercial bank (the Bank); seven limited partnerships investing in affordable housing investments; GBC Venture Capital, Inc, and Asia Realty Corp. The Company also owns the common stock of five statutory business trusts created for issuing capital securities.
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