Cathay General Bancorp (NASDAQ:CATY) Announces Earnings Results, Beats Expectations By $0.03 EPS

Cathay General Bancorp (NASDAQ:CATY) posted its earnings results on Monday. The bank reported $0.98 EPS for the quarter, beating the consensus estimate of $0.95 by $0.03, Zacks reports. Cathay General Bancorp had a return on equity of 10.70% and a net margin of 20.57%.

Cathay General Bancorp Stock Down 0.1 %

Shares of CATY stock traded down $0.03 on Monday, reaching $38.60. 528,063 shares of the company were exchanged, compared to its average volume of 352,964. Cathay General Bancorp has a one year low of $33.88 and a one year high of $55.29. The company has a market cap of $2.70 billion, a price-to-earnings ratio of 9.75 and a beta of 0.99. The company has a 50-day moving average of $42.90 and a 200-day moving average of $46.34. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.03 and a quick ratio of 1.03.

Cathay General Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Thursday, February 27th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.52%. The ex-dividend date was Thursday, February 27th. Cathay General Bancorp’s dividend payout ratio is presently 34.34%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CATY shares. Stephens reduced their target price on shares of Cathay General Bancorp from $60.00 to $57.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Keefe, Bruyette & Woods lowered their price objective on Cathay General Bancorp from $56.00 to $55.00 and set a “market perform” rating for the company in a research report on Thursday, January 23rd. Finally, Piper Sandler reduced their target price on Cathay General Bancorp from $45.00 to $43.00 and set an “underweight” rating on the stock in a report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Cathay General Bancorp presently has an average rating of “Hold” and an average price target of $50.80.

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.