Cathay General Bancorp (CATY) Scheduled to Post Quarterly Earnings on Tuesday

Cathay General Bancorp (NASDAQ:CATY) is scheduled to post its quarterly earnings results after the market closes on Tuesday, January 30th. Analysts expect Cathay General Bancorp to post earnings of $0.63 per share for the quarter.

Cathay General Bancorp (NASDAQ:CATY) last released its quarterly earnings results on Wednesday, October 25th. The bank reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.01. The company had revenue of $146.20 million during the quarter, compared to analysts’ expectations of $135.27 million. Cathay General Bancorp had a net margin of 33.87% and a return on equity of 10.60%. The business’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.58 earnings per share. On average, analysts expect Cathay General Bancorp to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Cathay General Bancorp (NASDAQ CATY) opened at $45.12 on Tuesday. The firm has a market cap of $3,618.31, a P/E ratio of 18.34, a PEG ratio of 1.96 and a beta of 1.35. Cathay General Bancorp has a 1-year low of $34.00 and a 1-year high of $45.54. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.37.

In related news, COO Irwin Wong sold 6,059 shares of the stock in a transaction on Monday, November 20th. The shares were sold at an average price of $42.00, for a total transaction of $254,478.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dunson K. Cheng sold 50,000 shares of the stock in a transaction on Monday, December 11th. The stock was sold at an average price of $42.45, for a total transaction of $2,122,500.00. Following the transaction, the insider now owns 119,591 shares of the company’s stock, valued at approximately $5,076,637.95. The disclosure for this sale can be found here. Insiders have sold 66,059 shares of company stock valued at $2,807,978 in the last 90 days. 5.76% of the stock is currently owned by corporate insiders.

Several research analysts have recently weighed in on the stock. ValuEngine cut shares of Cathay General Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. BidaskClub cut shares of Cathay General Bancorp from a “buy” rating to a “hold” rating in a report on Friday, December 29th. Royal Bank of Canada upped their price target on shares of Cathay General Bancorp from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, October 26th. Sandler O’Neill reiterated a “hold” rating and issued a $45.00 price target on shares of Cathay General Bancorp in a report on Thursday, January 4th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $44.00 price target on shares of Cathay General Bancorp in a report on Friday, December 22nd. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Cathay General Bancorp has an average rating of “Hold” and an average price target of $44.50.

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About Cathay General Bancorp

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.

Earnings History for Cathay General Bancorp (NASDAQ:CATY)

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