Cathay General Bancorp (NASDAQ:CATY – Get Free Report) announced its quarterly earnings data on Monday. The bank reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.01), Briefing.com reports. Cathay General Bancorp had a return on equity of 11.96% and a net margin of 22.08%. During the same period last year, the business posted $1.13 EPS.
Cathay General Bancorp Stock Performance
NASDAQ CATY opened at $44.59 on Tuesday. Cathay General Bancorp has a 1-year low of $32.08 and a 1-year high of $46.70. The company has a 50 day moving average of $42.95 and a 200-day moving average of $39.55. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.11. The firm has a market cap of $3.25 billion, a price-to-earnings ratio of 9.87 and a beta of 1.11.
Cathay General Bancorp Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Thursday, August 29th were paid a dividend of $0.34 per share. The ex-dividend date was Thursday, August 29th. This represents a $1.36 annualized dividend and a yield of 3.05%. Cathay General Bancorp’s dividend payout ratio is 30.09%.
Insider Transactions at Cathay General Bancorp
Wall Street Analyst Weigh In
Several research analysts recently commented on the company. Wedbush raised their target price on Cathay General Bancorp from $44.00 to $50.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. StockNews.com upgraded shares of Cathay General Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, July 19th. Truist Financial increased their price target on shares of Cathay General Bancorp from $45.00 to $47.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. Finally, Piper Sandler lifted their price objective on Cathay General Bancorp from $32.00 to $36.00 and gave the company an “underweight” rating in a report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Cathay General Bancorp currently has an average rating of “Hold” and an average price target of $43.50.
Check Out Our Latest Stock Report on Cathay General Bancorp
About Cathay General Bancorp
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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