Zacks: Brokerages Anticipate Cathay General Bancorp (CATY) to Announce $0.63 Earnings Per Share

Wall Street analysts expect that Cathay General Bancorp (NASDAQ:CATY) will announce earnings per share (EPS) of $0.63 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Cathay General Bancorp’s earnings, with the lowest EPS estimate coming in at $0.61 and the highest estimate coming in at $0.65. Cathay General Bancorp posted earnings per share of $0.60 during the same quarter last year, which would indicate a positive year-over-year growth rate of 5%. The business is scheduled to report its next quarterly earnings report on Wednesday, January 24th.

On average, analysts expect that Cathay General Bancorp will report full-year earnings of $2.49 per share for the current year, with EPS estimates ranging from $2.47 to $2.51. For the next financial year, analysts forecast that the company will post earnings of $2.71 per share, with EPS estimates ranging from $2.67 to $2.79. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that follow Cathay General Bancorp.

Cathay General Bancorp (NASDAQ:CATY) last posted its quarterly earnings data on Wednesday, October 25th. The bank reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. The business had revenue of $146.20 million for the quarter, compared to analyst estimates of $135.27 million. Cathay General Bancorp had a return on equity of 10.60% and a net margin of 33.87%. The firm’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.58 earnings per share.

A number of equities analysts have recently commented on CATY shares. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $37.00 price objective on shares of Cathay General Bancorp in a research note on Tuesday, July 25th. BMO Capital Markets lifted their price objective on Cathay General Bancorp from $44.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, November 3rd. Zacks Investment Research upgraded Cathay General Bancorp from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a research note on Wednesday, October 11th. Piper Jaffray Companies reiterated a “buy” rating and issued a $43.00 price objective on shares of Cathay General Bancorp in a research note on Friday, October 6th. Finally, Royal Bank Of Canada lifted their price objective on Cathay General Bancorp from $35.00 to $43.00 and gave the stock an “outperform” rating in a research note on Thursday, July 20th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $42.14.

Cathay General Bancorp (NASDAQ:CATY) traded up $0.69 during trading on Tuesday, hitting $40.00. The stock had a trading volume of 373,200 shares, compared to its average volume of 390,661. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $3,177.03, a price-to-earnings ratio of 15.79, a PEG ratio of 1.97 and a beta of 1.34. Cathay General Bancorp has a twelve month low of $34.00 and a twelve month high of $42.64.

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A number of institutional investors and hedge funds have recently modified their holdings of the stock. Alps Advisors Inc. increased its stake in Cathay General Bancorp by 0.3% during the second quarter. Alps Advisors Inc. now owns 12,271 shares of the bank’s stock valued at $466,000 after acquiring an additional 31 shares during the period. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its stake in Cathay General Bancorp by 0.4% during the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 14,626 shares of the bank’s stock valued at $555,000 after acquiring an additional 52 shares during the period. Los Angeles Capital Management & Equity Research Inc. increased its stake in Cathay General Bancorp by 0.5% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 19,343 shares of the bank’s stock valued at $734,000 after acquiring an additional 100 shares during the period. Teacher Retirement System of Texas increased its stake in Cathay General Bancorp by 1.7% during the second quarter. Teacher Retirement System of Texas now owns 6,069 shares of the bank’s stock valued at $230,000 after acquiring an additional 101 shares during the period. Finally, Pinebridge Investments L.P. increased its stake in Cathay General Bancorp by 0.6% during the second quarter. Pinebridge Investments L.P. now owns 40,055 shares of the bank’s stock valued at $1,521,000 after acquiring an additional 244 shares during the period. Hedge funds and other institutional investors own 67.94% of the company’s stock.

Cathay General Bancorp Company Profile

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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Earnings History and Estimates for Cathay General Bancorp (NASDAQ:CATY)

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