Cathay General Bancorp (NASDAQ:CATY) Posts Quarterly Earnings Results, Misses Estimates By $0.04 EPS

Cathay General Bancorp (NASDAQ:CATY) posted its earnings results on Monday. The bank reported $0.98 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.04), Yahoo Finance reports. Cathay General Bancorp had a net margin of 24.41% and a return on equity of 13.16%. The firm had revenue of $339.25 million during the quarter, compared to analyst estimates of $188.85 million. During the same period in the previous year, the company posted $1.32 EPS.

Cathay General Bancorp Trading Down 4.7 %

Shares of CATY stock opened at $34.89 on Wednesday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.25. The stock has a market cap of $2.54 billion, a P/E ratio of 7.72 and a beta of 1.12. The stock has a 50 day simple moving average of $37.91 and a 200 day simple moving average of $38.84. Cathay General Bancorp has a 1 year low of $27.24 and a 1 year high of $45.72.

Cathay General Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Wednesday, February 28th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 3.90%. The ex-dividend date of this dividend was Tuesday, February 27th. Cathay General Bancorp’s dividend payout ratio (DPR) is currently 30.09%.

Insider Activity at Cathay General Bancorp

In other Cathay General Bancorp news, Vice Chairman Anthony M. Tang sold 7,000 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $43.45, for a total transaction of $304,150.00. Following the completion of the sale, the insider now directly owns 204,500 shares in the company, valued at $8,885,525. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.76% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CATY shares. Truist Financial decreased their target price on Cathay General Bancorp from $46.00 to $40.00 and set a “hold” rating on the stock in a research report on Monday, April 1st. Keefe, Bruyette & Woods decreased their target price on Cathay General Bancorp from $46.00 to $41.00 and set a “market perform” rating on the stock in a research report on Tuesday. Wedbush reaffirmed an “outperform” rating and issued a $44.00 target price on shares of Cathay General Bancorp in a research report on Tuesday. Finally, StockNews.com downgraded Cathay General Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, April 6th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $39.40.

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.