Cathay General Bancorp (NASDAQ:CATY) Forecasted to Post Q2 2021 Earnings of $0.81 Per Share

Cathay General Bancorp (NASDAQ:CATY) – Stock analysts at Truist Securiti issued their Q2 2021 EPS estimates for Cathay General Bancorp in a research report issued on Sunday, June 20th. Truist Securiti analyst M. Young anticipates that the bank will post earnings of $0.81 per share for the quarter. Truist Securiti also issued estimates for Cathay General Bancorp’s FY2021 earnings at $3.39 EPS.

CATY has been the subject of a number of other reports. Zacks Investment Research cut Cathay General Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, March 30th. Piper Sandler raised their price objective on Cathay General Bancorp from $37.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 16th.

NASDAQ:CATY opened at $40.06 on Wednesday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.09. Cathay General Bancorp has a 1-year low of $20.59 and a 1-year high of $45.19. The firm has a market capitalization of $3.19 billion, a price-to-earnings ratio of 12.52 and a beta of 1.52. The firm has a 50-day moving average of $41.28.

Cathay General Bancorp (NASDAQ:CATY) last announced its quarterly earnings data on Sunday, April 25th. The bank reported $0.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.15. The business had revenue of $151.82 million for the quarter, compared to analyst estimates of $151.58 million. Cathay General Bancorp had a net margin of 35.27% and a return on equity of 10.64%. During the same period in the prior year, the business posted $0.59 earnings per share.

The firm also recently disclosed a dividend, which will be paid on Tuesday, July 6th. Stockholders of record on Friday, May 28th will be issued a $0.31 dividend. The ex-dividend date is Thursday, May 27th. This represents a dividend yield of 2.98%. Cathay General Bancorp’s dividend payout ratio (DPR) is presently 43.21%.

Hedge funds have recently modified their holdings of the business. First Horizon Advisors Inc. increased its position in shares of Cathay General Bancorp by 91.5% during the 1st quarter. First Horizon Advisors Inc. now owns 653 shares of the bank’s stock worth $26,000 after purchasing an additional 312 shares during the last quarter. Meeder Asset Management Inc. raised its position in Cathay General Bancorp by 114.7% during the first quarter. Meeder Asset Management Inc. now owns 659 shares of the bank’s stock worth $27,000 after acquiring an additional 352 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in Cathay General Bancorp in the first quarter valued at $31,000. Arlington Partners LLC acquired a new position in shares of Cathay General Bancorp during the 1st quarter worth about $39,000. Finally, Toronto Dominion Bank bought a new stake in shares of Cathay General Bancorp in the 4th quarter valued at about $51,000. Hedge funds and other institutional investors own 69.46% of the company’s stock.

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.

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

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