Cathay General Bancorp (CATY) Releases Earnings Results, Hits Estimates

Cathay General Bancorp (NASDAQ:CATY) posted its earnings results on Wednesday. The bank reported $0.78 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.78, Bloomberg Earnings reports. Cathay General Bancorp had a net margin of 28.74% and a return on equity of 10.46%. During the same period in the previous year, the company earned $0.61 earnings per share.

Shares of Cathay General Bancorp stock opened at $39.30 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market capitalization of $3,185.77, a P/E ratio of 15.69, a P/E/G ratio of 1.55 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.

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In related news, insider Dunson K. Cheng sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $41.92, for a total value of $838,400.00. Following the completion of the sale, the insider now owns 97,124 shares of the company’s stock, valued at $4,071,438.08. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Vice Chairman Peter Wu sold 33,045 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $44.36, for a total transaction of $1,465,876.20. Following the completion of the sale, the insider now directly owns 12,976 shares of the company’s stock, valued at approximately $575,615.36. The disclosure for this sale can be found here. In the last three months, insiders sold 56,845 shares of company stock valued at $2,474,174. 5.76% of the stock is currently owned by company insiders.

A number of research analysts have recently issued reports on CATY shares. ValuEngine upgraded shares of Cathay General Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. BidaskClub upgraded shares of Cathay General Bancorp from a “hold” rating to a “buy” rating in a research note on Tuesday, January 16th. Piper Jaffray reiterated a “buy” rating and issued a $51.00 target price on shares of Cathay General Bancorp in a research note on Tuesday, January 9th. Zacks Investment Research raised shares of Cathay General Bancorp from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a report on Friday, January 5th. Finally, Sandler O’Neill reissued a “hold” rating and issued a $45.00 price target on shares of Cathay General Bancorp in a report on Thursday, January 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $44.75.

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Cathay General Bancorp Company Profile

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.

Earnings History for Cathay General Bancorp (NASDAQ:CATY)

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