Wall Street analysts forecast that Cathay General Bancorp (NASDAQ:CATY) will announce earnings of $0.87 per share for the current quarter, Zacks reports. Four analysts have made estimates for Cathay General Bancorp’s earnings, with the lowest EPS estimate coming in at $0.84 and the highest estimate coming in at $0.89. Cathay General Bancorp posted earnings of $0.92 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 5.4%. The company is scheduled to announce its next quarterly earnings results on Wednesday, July 17th.
According to Zacks, analysts expect that Cathay General Bancorp will report full year earnings of $3.48 per share for the current year, with EPS estimates ranging from $3.41 to $3.52. For the next financial year, analysts forecast that the company will report earnings of $3.58 per share, with EPS estimates ranging from $3.56 to $3.60. Zacks’ EPS averages are an average based on a survey of research analysts that that provide coverage for Cathay General Bancorp.
Cathay General Bancorp (NASDAQ:CATY) last announced its quarterly earnings data on Wednesday, April 17th. The bank reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.03. The firm had revenue of $156.24 million for the quarter, compared to analyst estimates of $153.10 million. Cathay General Bancorp had a net margin of 36.43% and a return on equity of 13.08%. During the same period in the previous year, the company earned $0.78 earnings per share.
A number of large investors have recently bought and sold shares of the business. Oppenheimer Asset Management Inc. bought a new stake in shares of Cathay General Bancorp in the fourth quarter valued at $57,000. Advisors Asset Management Inc. bought a new stake in shares of Cathay General Bancorp in the fourth quarter valued at $184,000. State Board of Administration of Florida Retirement System raised its stake in shares of Cathay General Bancorp by 10.7% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 63,265 shares of the bank’s stock valued at $2,121,000 after purchasing an additional 6,121 shares during the period. Oregon Public Employees Retirement Fund raised its stake in shares of Cathay General Bancorp by 3,307.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,029,639 shares of the bank’s stock valued at $31,000 after purchasing an additional 999,424 shares during the period. Finally, Mackenzie Financial Corp bought a new stake in shares of Cathay General Bancorp during the 4th quarter valued at $3,697,000. 71.58% of the stock is currently owned by institutional investors.
Shares of CATY traded up $0.27 during trading hours on Tuesday, reaching $34.78. 661 shares of the company traded hands, compared to its average volume of 364,611. Cathay General Bancorp has a 12-month low of $31.94 and a 12-month high of $43.53. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market capitalization of $2.77 billion, a PE ratio of 10.43, a price-to-earnings-growth ratio of 1.24 and a beta of 1.26.
Cathay General Bancorp announced that its board has approved a stock repurchase plan on Tuesday, May 7th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the bank to repurchase up to 1.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Monday, June 3rd were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend was Friday, May 31st. Cathay General Bancorp’s payout ratio is 37.13%.
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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