Equities research analysts forecast that Cathay General Bancorp (NASDAQ:CATY) will announce $138.05 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Cathay General Bancorp’s earnings, with the lowest sales estimate coming in at $137.10 million and the highest estimate coming in at $139.00 million. Cathay General Bancorp posted sales of $112.64 million during the same quarter last year, which indicates a positive year over year growth rate of 22.6%. The firm is expected to issue its next earnings results on Wednesday, October 18th.

On average, analysts expect that Cathay General Bancorp will report full year sales of $138.05 million for the current fiscal year, with estimates ranging from $518.30 million to $525.00 million. For the next fiscal year, analysts forecast that the firm will post sales of $590.40 million per share, with estimates ranging from $575.80 million to $605.00 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Cathay General Bancorp.

Cathay General Bancorp (NASDAQ:CATY) last issued its quarterly earnings data on Wednesday, July 19th. The bank reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.03. The firm had revenue of $123.50 million during the quarter, compared to analysts’ expectations of $129.10 million. Cathay General Bancorp had a net margin of 35.30% and a return on equity of 10.54%. During the same quarter in the previous year, the company earned $0.44 earnings per share.

Several analysts recently issued reports on CATY shares. Zacks Investment Research downgraded shares of Cathay General Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, April 24th. Keefe, Bruyette & Woods set a $37.00 price target on shares of Cathay General Bancorp and gave the company a “hold” rating in a research report on Monday, May 22nd. 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 report on Thursday, July 20th. BidaskClub raised shares of Cathay General Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, July 3rd. Finally, Wedbush reissued a “neutral” rating and issued a $39.00 price target on shares of Cathay General Bancorp in a research report on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $41.00.

In related news, Vice Chairman Anthony M. Tang sold 50,000 shares of Cathay General Bancorp stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $38.01, for a total value of $1,900,500.00. Following the completion of the sale, the insider now owns 301,400 shares of the company’s stock, valued at approximately $11,456,214. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 5.76% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. bought a new position in shares of Cathay General Bancorp during the fourth quarter valued at $230,000. Bank of Montreal Can boosted its position in shares of Cathay General Bancorp by 65.6% in the first quarter. Bank of Montreal Can now owns 84,468 shares of the bank’s stock valued at $3,183,000 after buying an additional 33,468 shares during the period. Louisiana State Employees Retirement System boosted its position in shares of Cathay General Bancorp by 3.3% in the first quarter. Louisiana State Employees Retirement System now owns 18,900 shares of the bank’s stock valued at $712,000 after buying an additional 600 shares during the period. Smith Graham & Co. Investment Advisors LP boosted its position in shares of Cathay General Bancorp by 8.9% in the first quarter. Smith Graham & Co. Investment Advisors LP now owns 124,540 shares of the bank’s stock valued at $4,693,000 after buying an additional 10,210 shares during the period. Finally, Boston Advisors LLC boosted its position in shares of Cathay General Bancorp by 12.2% in the first quarter. Boston Advisors LLC now owns 153,005 shares of the bank’s stock valued at $5,765,000 after buying an additional 16,660 shares during the period. Institutional investors and hedge funds own 67.31% of the company’s stock.

Cathay General Bancorp (CATY) opened at 35.31 on Friday. The firm has a market cap of $2.85 billion, a PE ratio of 14.53 and a beta of 1.27. Cathay General Bancorp has a 12-month low of $28.84 and a 12-month high of $40.83. The stock has a 50 day moving average of $37.51 and a 200 day moving average of $37.78.

ILLEGAL ACTIVITY NOTICE: “Cathay General Bancorp (CATY) Expected to Announce Quarterly Sales of $138.05 Million” was published by Daily Political and is owned by of Daily Political. If you are reading this story on another domain, it was copied illegally and republished in violation of United States & international trademark & copyright legislation. The legal version of this story can be accessed at https://www.dailypolitical.com/2017/08/13/cathay-general-bancorp-caty-expected-to-announce-quarterly-sales-of-138-05-million.html.

About Cathay General Bancorp

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.

Get a free copy of the Zacks research report on Cathay General Bancorp (CATY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Cathay General Bancorp (NASDAQ:CATY)

Receive News & Ratings for Cathay General Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cathay General Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.