Wall Street analysts expect that Cathay General Bancorp (NASDAQ:CATY) will report $141.83 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Cathay General Bancorp’s earnings, with the lowest sales estimate coming in at $140.50 million and the highest estimate coming in at $143.10 million. Cathay General Bancorp reported sales of $118.83 million during the same quarter last year, which indicates a positive year-over-year growth rate of 19.4%. The business is scheduled to issue its next quarterly earnings report on Wednesday, April 18th.
On average, analysts expect that Cathay General Bancorp will report full year sales of $141.83 million for the current fiscal year, with estimates ranging from $589.00 million to $603.20 million. For the next financial year, analysts forecast that the company will post sales of $645.80 million per share, with estimates ranging from $640.20 million to $653.30 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Cathay General Bancorp.
Cathay General Bancorp (NASDAQ:CATY) last issued its earnings results on Tuesday, January 30th. The bank reported $0.61 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.02). Cathay General Bancorp had a return on equity of 10.46% and a net margin of 28.74%. The company had revenue of $143.51 million during the quarter, compared to analyst estimates of $139.43 million. During the same period in the previous year, the company posted $0.60 earnings per share. The company’s quarterly revenue was up 21.8% on a year-over-year basis.
Shares of Cathay General Bancorp stock traded up $0.10 on Friday, hitting $42.35. The stock had a trading volume of 403,850 shares, compared to its average volume of 340,488. The firm has a market cap of $3,453.98, a PE ratio of 19.38, a PEG ratio of 1.69 and a beta of 1.38. Cathay General Bancorp has a fifty-two week low of $34.00 and a fifty-two week high of $45.59. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.04 and a current ratio of 1.04.
The firm also recently declared a quarterly dividend, which was paid on Monday, March 12th. Investors of record on Thursday, March 1st were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.96 dividend on an annualized basis and a yield of 2.27%. Cathay General Bancorp’s dividend payout ratio (DPR) is presently 44.04%.
In other Cathay General Bancorp news, Vice Chairman Peter Wu sold 33,045 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $44.36, for a total value of $1,465,876.20. Following the transaction, the insider now directly owns 12,976 shares in the company, valued at approximately $575,615.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kim R. Bingham sold 3,800 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $44.71, for a total value of $169,898.00. Following the completion of the transaction, the executive vice president now owns 21,803 shares in the company, valued at $974,812.13. The disclosure for this sale can be found here. Insiders sold a total of 56,845 shares of company stock worth $2,474,174 over the last quarter. Corporate insiders own 5.76% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in CATY. Citadel Advisors LLC bought a new position in Cathay General Bancorp in the 3rd quarter valued at $17,058,000. APG Asset Management N.V. boosted its position in Cathay General Bancorp by 219.7% in the 4th quarter. APG Asset Management N.V. now owns 392,900 shares of the bank’s stock valued at $13,798,000 after buying an additional 270,000 shares during the last quarter. Chicago Equity Partners LLC boosted its position in Cathay General Bancorp by 159.1% in the 4th quarter. Chicago Equity Partners LLC now owns 242,780 shares of the bank’s stock valued at $10,238,000 after buying an additional 149,090 shares during the last quarter. BlackRock Inc. boosted its position in Cathay General Bancorp by 1.3% in the 4th quarter. BlackRock Inc. now owns 8,862,311 shares of the bank’s stock valued at $373,722,000 after buying an additional 112,337 shares during the last quarter. Finally, TIAA CREF Investment Management LLC boosted its position in Cathay General Bancorp by 22.0% in the 4th quarter. TIAA CREF Investment Management LLC now owns 465,810 shares of the bank’s stock valued at $19,643,000 after buying an additional 84,086 shares during the last quarter. Hedge funds and other institutional investors own 67.91% 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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