Cathay General Bancorp (NASDAQ:CATY) Issues Quarterly Earnings Results

Cathay General Bancorp (NASDAQ:CATY) announced its quarterly earnings data on Monday. The bank reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.01), Briefing.com reports. Cathay General Bancorp had a return on equity of 11.96% and a net margin of 22.08%. During the same period in the previous year, the firm earned $1.13 earnings per share.

Cathay General Bancorp Stock Down 3.1 %

CATY opened at $44.59 on Tuesday. The company has a fifty day moving average of $42.95 and a two-hundred day moving average of $39.55. The stock has a market capitalization of $3.25 billion, a price-to-earnings ratio of 9.87 and a beta of 1.11. Cathay General Bancorp has a fifty-two week low of $32.08 and a fifty-two week high of $46.70. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.03 and a current ratio of 1.03.

Cathay General Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Thursday, August 29th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend was Thursday, August 29th. Cathay General Bancorp’s dividend payout ratio (DPR) is presently 30.09%.

Analysts Set New Price Targets

Several brokerages recently weighed in on CATY. Truist Financial increased their price target on shares of Cathay General Bancorp from $45.00 to $47.00 and gave the stock a “hold” rating in a report on Friday, September 20th. Piper Sandler raised their target price on shares of Cathay General Bancorp from $32.00 to $36.00 and gave the stock an “underweight” rating in a report on Tuesday, July 23rd. Wedbush boosted their target price on shares of Cathay General Bancorp from $44.00 to $50.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Finally, StockNews.com raised Cathay General Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $43.50.

Insider Transactions at Cathay General Bancorp

In other news, Chairman Dunson K. Cheng sold 12,401 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $44.79, for a total transaction of $555,440.79. Following the sale, the chairman now directly owns 149,566 shares in the company, valued at $6,699,061.14. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Chairman Dunson K. Cheng sold 12,401 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $44.79, for a total transaction of $555,440.79. Following the transaction, the chairman now owns 149,566 shares in the company, valued at $6,699,061.14. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Kim R. Bingham sold 6,000 shares of Cathay General Bancorp stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $44.89, for a total transaction of $269,340.00. Following the completion of the sale, the executive vice president now directly owns 45,530 shares in the company, valued at $2,043,841.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,401 shares of company stock valued at $1,728,581 in the last ninety days. 4.76% of the stock is currently owned by corporate insiders.

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.