Q4 2021 EPS estimates for Cathay General Bancorp increased by Wedbush (NASDAQ: CATY)
Cathay General Bancorp (NASDAQ: CATY) – Analysts at Wedbush increased their EPS estimates for the fourth quarter of 2021 for Cathay General Bancorp in a research report released to clients and investors on Monday, January 3. Wedbush analyst D. Chiaverini now predicts the bank will post earnings per share of $ 0.96 for the quarter, up from its previous forecast of $ 0.93. Wedbush also released estimates for Cathay General Bancorp Q3 2022 earnings at EPS $ 1.03, Q4 2022 earnings at EPS $ 1.06, FY2022 earnings at EPS $ 3.90, and FY2023 earnings at EPS 4. , $ 70 EPS. Cathay General Bancorp (NASDAQ: CATY) last reported its quarterly results on Sunday, October 24. The bank reported earnings per share of $ 0.93 for the quarter, beating Zacks’ consensus estimate of $ 0.91 by $ 0.02. Cathay General Bancorp had a net margin of 41.32% and a return on equity of 12.00%. The company posted revenue of $ 164.70 million in the quarter, compared to analysts’ estimates of $ 164.30 million. During the same period of the previous year, the company posted $ 0.71 in EPS. The company’s quarterly revenue increased 2.6% year-over-year.
Separately, Zacks investment research downgraded Cathay General Bancorp shares from a “buy” rating to a “conservation” rating in a Wednesday October 27th research note. Five equity research analysts rated the stock with a maintenance rating. Based on MarketBeat data, Cathay General Bancorp currently has an average rating of “Hold” and a consensus price target of $ 45.
NASDAQ CATY shares opened at $ 43.58 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt ratio of 0.07. Cathay General Bancorp has a 52 week low of $ 31.23 and a 52 week high of $ 46.42. The company has a fifty-day moving average price of $ 43.40. The stock has a market cap of $ 3.37 billion, a P / E ratio of 11.75 and a beta of 1.37.
The company also recently disclosed 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 an increase from Cathay General Bancorp’s previous quarterly dividend of $ 0.31. This represents a dividend of $ 1.76 on an annualized basis and a return of 4.04%. The ex-dividend date of this dividend was Friday, November 26. Cathay General Bancorp’s payout ratio is currently 36.66%.
In other news, EVP Kim R. Bingham sold 3,000 shares of the company in a transaction dated Friday, October 29. The shares were sold for an average price of $ 42.68, for a total value of $ 128,040.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. 4.23% of the shares are currently held by insiders.
Several hedge funds have recently increased or reduced their stakes in the company. Vanguard Group Inc. increased its holdings of Cathay General Bancorp shares by 2.5% in the second quarter. Vanguard Group Inc. now owns 7,396,002 shares of the bank valued at $ 291,107,000 after purchasing an additional 177,449 shares in the last quarter. State Street Corp increased its holdings of Cathay General Bancorp shares by 6.9% in the second quarter. State Street Corp now owns 3,727,585 shares of the bank valued at $ 146,718,000 after purchasing an additional 241,094 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings of shares of Cathay General Bancorp by 0.4% in the third quarter. Dimensional Fund Advisors LP now owns 2,902,943 shares of the bank valued at $ 120,155,000 after purchasing an additional 12,524 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Cathay General Bancorp by 3.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,098,896 shares of the bank valued at $ 86,873,000 after acquiring an additional 78,453 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in Cathay General Bancorp shares by 2.3% during the second quarter. Principal Financial Group Inc. now owns 1,708,887 shares of the bank valued at $ 67,261,000 after acquiring an additional 38,696 shares in the last quarter. Hedge funds and other institutional investors hold 68.71% of the company’s shares.
Cathay General Bancorp Company Profile
Cathay General Bancorp is a holding company which provides financial services. It offers commercial mortgages, commercial loans, small business administration loans, residential mortgages, real estate construction loans, home equity lines of credit and personal installment loans for expenses. automobiles, housework and other consumer expenses.
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