Cathay General Bancorp (NASDAQ:CATY – Get Free Report) announced its quarterly earnings results on Monday. The bank reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.04), Yahoo Finance reports. Cathay General Bancorp had a return on equity of 13.16% and a net margin of 24.41%. The business had revenue of $339.25 million during the quarter, compared to the consensus estimate of $188.85 million. During the same quarter last year, the company earned $1.32 earnings per share.
Cathay General Bancorp Stock Down 4.7 %
CATY stock opened at $34.89 on Wednesday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.25. The business has a 50 day moving average price of $37.91 and a two-hundred day moving average price of $38.84. The company has a market cap of $2.54 billion, a price-to-earnings ratio of 7.72 and a beta of 1.12. Cathay General Bancorp has a twelve month low of $27.24 and a twelve month high of $45.72.
Cathay General Bancorp Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Wednesday, February 28th were paid a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $1.36 dividend on an annualized basis and a yield of 3.90%. Cathay General Bancorp’s dividend payout ratio is 30.09%.
Wall Street Analyst Weigh In
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Insider Buying and Selling at Cathay General Bancorp
In other news, Vice Chairman Anthony M. Tang sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $43.45, for a total value of $304,150.00. Following the completion of the sale, the insider now directly owns 204,500 shares of the company’s stock, valued at $8,885,525. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 4.76% of the company’s stock.
About Cathay General Bancorp
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.
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