Cathay General Bancorp (NASDAQ:CATY) – Analysts at Piper Jaffray Companies lowered their Q3 2018 earnings per share (EPS) estimates for shares of Cathay General Bancorp in a note issued to investors on Wednesday, September 12th. Piper Jaffray Companies analyst M. Clark now expects that the bank will post earnings of $0.85 per share for the quarter, down from their prior estimate of $0.88. Piper Jaffray Companies also issued estimates for Cathay General Bancorp’s FY2018 earnings at $3.28 EPS and Q3 2019 earnings at $0.88 EPS.

Cathay General Bancorp (NASDAQ:CATY) last issued its earnings results on Wednesday, July 18th. The bank reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.01. The business had revenue of $147.80 million for the quarter, compared to analyst estimates of $147.85 million. Cathay General Bancorp had a return on equity of 11.98% and a net margin of 31.65%. During the same period last year, the company posted $0.64 EPS.

Several other brokerages have also weighed in on CATY. Zacks Investment Research lowered Cathay General Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, July 6th. BidaskClub lowered Cathay General Bancorp from a “sell” rating to a “strong sell” rating in a research report on Friday, August 31st. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $47.00 target price on shares of Cathay General Bancorp in a research report on Friday, July 20th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $47.31.

Shares of CATY opened at $42.25 on Monday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market capitalization of $3.47 billion, a P/E ratio of 17.18, a PEG ratio of 1.62 and a beta of 1.28. Cathay General Bancorp has a twelve month low of $36.88 and a twelve month high of $45.59.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Tuesday, September 4th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.27%. The ex-dividend date was Friday, August 31st. Cathay General Bancorp’s dividend payout ratio (DPR) is presently 39.02%.

In other Cathay General Bancorp news, Vice Chairman Anthony M. Tang sold 11,510 shares of the firm’s stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $42.50, for a total value of $489,175.00. Following the transaction, the insider now directly owns 283,272 shares of the company’s stock, valued at $12,039,060. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lisa L. Kim sold 750 shares of the firm’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $42.06, for a total value of $31,545.00. Following the completion of the transaction, the executive vice president now directly owns 805 shares in the company, valued at $33,858.30. The disclosure for this sale can be found here. Insiders sold 44,330 shares of company stock worth $1,883,695 over the last three months. 4.90% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in CATY. IFP Advisors Inc raised its position in Cathay General Bancorp by 64.7% in the first quarter. IFP Advisors Inc now owns 4,548 shares of the bank’s stock valued at $182,000 after purchasing an additional 1,786 shares during the period. Nomura Holdings Inc. purchased a new position in Cathay General Bancorp in the second quarter valued at about $219,000. Laurion Capital Management LP purchased a new position in Cathay General Bancorp in the second quarter valued at about $241,000. Signition LP purchased a new position in Cathay General Bancorp in the second quarter valued at about $270,000. Finally, Sciencast Management LP purchased a new position in Cathay General Bancorp in the first quarter valued at about $299,000. 70.51% of the stock is currently owned by institutional investors.

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

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