Cathay General Bancorp (NASDAQ:CATY) has been assigned a consensus recommendation of “Hold” from the seven brokerages that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $40.83.
CATY has been the subject of several research analyst reports. Zacks Investment Research raised shares of Cathay General Bancorp from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research note on Thursday, June 1st. BidaskClub raised shares of Cathay General Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, July 3rd. Royal Bank Of Canada lifted their price target on shares of Cathay General Bancorp from $35.00 to $43.00 and gave the company an “outperform” rating in a research note on Thursday, July 20th. Wedbush reaffirmed a “neutral” rating and set a $39.00 price target on shares of Cathay General Bancorp in a research note on Tuesday, June 27th. Finally, Keefe, Bruyette & Woods set a $37.00 price objective on shares of Cathay General Bancorp and gave the stock a “hold” rating in a research note on Monday, May 22nd.
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Cathay General Bancorp (NASDAQ CATY) traded up 2.33% on Tuesday, reaching $36.48. The company’s stock had a trading volume of 334,973 shares. The company has a market capitalization of $2.95 billion, a PE ratio of 15.01 and a beta of 1.29. Cathay General Bancorp has a one year low of $28.84 and a one year high of $40.83. The firm has a 50-day moving average of $36.18 and a 200-day moving average of $37.39.
Cathay General Bancorp (NASDAQ:CATY) last posted its quarterly earnings results on Wednesday, July 19th. The bank reported $0.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.03. Cathay General Bancorp had a net margin of 35.30% and a return on equity of 10.54%. The firm had revenue of $123.50 million during the quarter, compared to the consensus estimate of $129.10 million. During the same quarter in the previous year, the firm posted $0.44 earnings per share. Analysts predict that Cathay General Bancorp will post $2.44 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Friday, September 1st were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend was Wednesday, August 30th. Cathay General Bancorp’s dividend payout ratio (DPR) is 34.57%.
Large investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Cathay General Bancorp by 9.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,029 shares of the bank’s stock worth $115,000 after buying an additional 252 shares in the last quarter. Flinton Capital Management LLC raised its stake in Cathay General Bancorp by 65.9% in the second quarter. Flinton Capital Management LLC now owns 3,584 shares of the bank’s stock worth $136,000 after buying an additional 1,424 shares in the last quarter. Riverhead Capital Management LLC raised its stake in Cathay General Bancorp by 63.5% in the second quarter. Riverhead Capital Management LLC now owns 3,924 shares of the bank’s stock worth $149,000 after buying an additional 1,524 shares in the last quarter. Oakbrook Investments LLC bought a new position in Cathay General Bancorp in the second quarter worth approximately $211,000. Finally, Shelton Capital Management bought a new position in Cathay General Bancorp in the second quarter worth approximately $215,000. 67.80% of the stock is owned by institutional investors.
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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