Cathay General Bancorp (CATY) Set to Announce Earnings on Wednesday
Cathay General Bancorp (NASDAQ:CATY) is scheduled to be announcing its earnings results after the market closes on Wednesday, April 18th. Analysts expect the company to announce earnings of $0.71 per share for the quarter.
Cathay General Bancorp (NASDAQ:CATY) last posted its quarterly earnings results on Tuesday, January 30th. The bank reported $0.61 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.02). The firm had revenue of $143.51 million during the quarter, compared to the consensus estimate of $139.43 million. Cathay General Bancorp had a return on equity of 10.46% and a net margin of 28.74%. The business’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.60 earnings per share. On average, analysts expect Cathay General Bancorp to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.
CATY opened at $39.70 on Tuesday. The company has a market capitalization of $3,207.69, a price-to-earnings ratio of 16.14, a PEG ratio of 1.56 and a beta of 1.38. Cathay General Bancorp has a 1-year low of $34.00 and a 1-year high of $45.59. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.04 and a quick ratio of 1.04.
A number of equities analysts have weighed in on CATY shares. BidaskClub lowered shares of Cathay General Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, March 27th. Zacks Investment Research lowered shares of Cathay General Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, April 3rd. Sandler O’Neill reiterated a “hold” rating and issued a $45.00 price target on shares of Cathay General Bancorp in a research report on Thursday, January 4th. ValuEngine lowered shares of Cathay General Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Finally, Piper Jaffray reiterated a “buy” rating and issued a $51.00 price target on shares of Cathay General Bancorp in a research report on Tuesday, January 9th. 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 company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $44.75.
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.
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