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.
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.
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