Brokerages expect Cathay General Bancorp (NASDAQ:CATY) to report quarterly sales of $167.90 million

Equity research analysts expect Cathay General Bancorp (NASDAQ:CATY) to report sales of $167.90 million for the current fiscal quarter, Zacks reports. Three analysts have released earnings estimates for Cathay General Bancorp, with the lowest sales estimate of $166.20 million and the highest estimate of $170.50 million. Cathay General Bancorp posted sales of $151.82 million in the same quarter last year, suggesting a positive year-over-year growth rate of 10.6%. The company is expected to release its next quarterly earnings report on Monday, April 25.

According to Zacks, analysts expect Cathay General Bancorp to report full-year sales of $700.97 million for the current fiscal year, with estimates ranging from $690.20 million to $711.00 million. of dollars. For the next fiscal year, analysts expect the company to record sales of $761.77 million, with estimates ranging from $733.50 million to $802.00 million. Zacks Investment Research sales averages are an average average based on a survey of research analysts who track Cathay General Bancorp.

Cathay General Bancorp Inc (NASDAQ:CATY) last released quarterly earnings data on Thursday, January 27. The bank reported earnings per share of $0.99 for the quarter, beating the consensus estimate of $0.92 by $0.07. Cathay General Bancorp achieved a return on equity of 12.00% and a net margin of 41.32%. The company posted revenue of $175.26 million in the quarter, compared to $166.02 million expected by analysts. In the same period a year earlier, the company earned earnings per share of $0.89. Cathay General Bancorp’s revenue for the quarter increased 15.9% compared to the same quarter last year.

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Separately, Zacks Investment Research upgraded Cathay General Bancorp from a “hold” rating to a “buy” rating and set a target price of $52.00 on the stock in a report on Tuesday, January 11.

NASDAQ CATY shares opened at $44.59 on Monday. The company has a market capitalization of $3.44 billion, a price-earnings ratio of 12.02 and a beta of 1.37. Cathay General Bancorp has a 1 year minimum of $33.44 and a 1 year maximum of $46.96. The company has a debt ratio of 0.07, a quick ratio of 1.04 and a current ratio of 1.04. The company’s 50-day moving average price is $43.95.

The company also recently declared a quarterly dividend, which was paid on Thursday, December 9. Shareholders of record on Monday, November 29 received a dividend of $0.44 per share. This is a positive change from Cathay General Bancorp’s previous quarterly dividend of $0.31. This represents a dividend of $1.76 on an annualized basis and a dividend yield of 3.95%. The ex-dividend date was Friday, November 26. Cathay General Bancorp’s payout ratio is 36.66%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. O Shaughnessy Asset Management LLC increased its stake in shares of Cathay General Bancorp by 145.6% during the third quarter. O Shaughnessy Asset Management LLC now owns 759 shares of the bank valued at $31,000 after acquiring an additional 450 shares in the last quarter. Dark Forest Capital Management LP acquired a new stake in Cathay General Bancorp in the second quarter worth approximately $32,000. Fieldpoint Private Securities LLC increased its holdings in Cathay General Bancorp by 14.7% in the second quarter. Fieldpoint Private Securities LLC now owns 2,168 shares of the bank worth $86,000 after buying 278 additional shares in the last quarter. Covington Capital Management increased its position in Cathay General Bancorp by 18.7% in the second quarter. Covington Capital Management now owns 2,650 shares of the bank worth $104,000 after acquiring 418 additional shares during the period. Finally, Meeder Asset Management Inc. increased its position in Cathay General Bancorp by 780.8% in the third quarter. Meeder Asset Management Inc. now owns 3,585 shares of the bank worth $148,000 after acquiring 3,178 additional shares during the period. Institutional investors and hedge funds own 68.52% of the company’s shares.

About Cathay General Bancorp

Cathay General Bancorp is a holding company that provides financial services. It offers commercial mortgages, commercial loans, small business administration loans, residential mortgages, home construction loans, home equity lines of credit and personal installment loans for the automobile, household and other consumer expenses.

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Earnings history and estimates for Cathay General Bancorp (NASDAQ:CATY)

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