Cathay General Bancorp (NASDAQ:CATY) Price Target Raised to $52.00

Cathay General Bancorp (NASDAQ:CATY) had its price objective raised by DA Davidson from $51.00 to $52.00 in a report issued on Thursday morning, Marketbeat.com reports. They currently have a neutral rating on the bank’s stock. DA Davidson also issued estimates for Cathay General Bancorp’s FY2025 earnings at $4.49 EPS and FY2026 earnings at $5.20 EPS.

Several other equities analysts have also weighed in on CATY. Stephens lowered Cathay General Bancorp from an “overweight” rating to an “equal weight” rating and set a $50.00 target price on the stock. in a report on Monday, August 4th. Wall Street Zen upgraded Cathay General Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, October 11th. Keefe, Bruyette & Woods upped their price target on Cathay General Bancorp from $53.00 to $55.00 and gave the company a “market perform” rating in a report on Wednesday. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Cathay General Bancorp in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $50.60.

Cathay General Bancorp Stock Performance

CATY opened at $46.94 on Thursday. The business’s 50 day moving average is $48.54 and its 200-day moving average is $45.77. The stock has a market cap of $3.24 billion, a PE ratio of 10.84 and a beta of 0.94. The company has a current ratio of 1.04, a quick ratio of 1.05 and a debt-to-equity ratio of 0.11. Cathay General Bancorp has a twelve month low of $36.06 and a twelve month high of $55.29.

Cathay General Bancorp (NASDAQ:CATY) last announced its quarterly earnings data on Tuesday, October 21st. The bank reported $1.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.02). The business had revenue of $210.61 million during the quarter, compared to analyst estimates of $202.71 million. Cathay General Bancorp had a return on equity of 10.60% and a net margin of 22.26%.During the same period in the prior year, the firm earned $0.94 EPS. On average, analysts predict that Cathay General Bancorp will post 4.47 earnings per share for the current year.

Cathay General Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Thursday, August 28th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Thursday, August 28th. Cathay General Bancorp’s payout ratio is 31.41%.

Hedge Funds Weigh In On Cathay General Bancorp

Several institutional investors have recently modified their holdings of the stock. New York State Teachers Retirement System grew its stake in Cathay General Bancorp by 2.5% in the third quarter. New York State Teachers Retirement System now owns 122,591 shares of the bank’s stock valued at $5,886,000 after acquiring an additional 3,038 shares during the period. SG Americas Securities LLC increased its stake in shares of Cathay General Bancorp by 389.1% during the 3rd quarter. SG Americas Securities LLC now owns 58,995 shares of the bank’s stock worth $2,832,000 after purchasing an additional 46,932 shares during the last quarter. Salomon & Ludwin LLC acquired a new stake in Cathay General Bancorp in the 3rd quarter valued at about $43,000. Moody Aldrich Partners LLC lifted its stake in Cathay General Bancorp by 96.7% in the 3rd quarter. Moody Aldrich Partners LLC now owns 81,799 shares of the bank’s stock valued at $3,927,000 after purchasing an additional 40,214 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al grew its holdings in Cathay General Bancorp by 6.9% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 40,237 shares of the bank’s stock worth $1,932,000 after purchasing an additional 2,600 shares during the period. 75.01% of the stock is currently owned by institutional investors and hedge funds.

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.