Wall Street analysts predict that Cathay General Bancorp (NASDAQ:CATY) will post sales of $153.10 million for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Cathay General Bancorp’s earnings, with the lowest sales estimate coming in at $152.60 million and the highest estimate coming in at $154.10 million. Cathay General Bancorp posted sales of $140.65 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 8.9%. The firm is scheduled to issue its next earnings results after the market closes on Wednesday, April 17th.
On average, analysts expect that Cathay General Bancorp will report full year sales of $632.23 million for the current year, with estimates ranging from $626.10 million to $637.00 million. For the next year, analysts forecast that the company will report sales of $669.80 million, with estimates ranging from $663.40 million to $677.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Cathay General Bancorp.
Cathay General Bancorp (NASDAQ:CATY) last issued its earnings results on Wednesday, January 23rd. The bank reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. Cathay General Bancorp had a return on equity of 13.18% and a net margin of 37.84%. The business had revenue of $155.88 million during the quarter, compared to the consensus estimate of $155.75 million. During the same quarter last year, the company earned $0.61 EPS.
In other Cathay General Bancorp news, EVP Kim R. Bingham sold 900 shares of the firm’s stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $37.61, for a total value of $33,849.00. Following the sale, the executive vice president now owns 27,520 shares of the company’s stock, valued at approximately $1,035,027.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Kim R. Bingham sold 4,200 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $37.92, for a total value of $159,264.00. Following the completion of the sale, the executive vice president now directly owns 28,263 shares in the company, valued at approximately $1,071,732.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,100 shares of company stock worth $590,713. Insiders own 4.90% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the business. Martingale Asset Management L P lifted its stake in Cathay General Bancorp by 12.0% in the third quarter. Martingale Asset Management L P now owns 173,075 shares of the bank’s stock valued at $7,173,000 after buying an additional 18,500 shares during the period. United Services Automobile Association lifted its stake in Cathay General Bancorp by 9.8% in the third quarter. United Services Automobile Association now owns 128,624 shares of the bank’s stock valued at $5,330,000 after buying an additional 11,500 shares during the period. Hsbc Holdings PLC acquired a new position in Cathay General Bancorp in the third quarter valued at approximately $2,124,000. Allianz Asset Management GmbH lifted its stake in Cathay General Bancorp by 47.7% in the third quarter. Allianz Asset Management GmbH now owns 40,331 shares of the bank’s stock valued at $1,671,000 after buying an additional 13,017 shares during the period. Finally, Tower Research Capital LLC TRC acquired a new position in Cathay General Bancorp in the third quarter valued at approximately $276,000. 72.58% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ CATY traded up $0.22 during trading hours on Friday, hitting $36.44. The company had a trading volume of 514,437 shares, compared to its average volume of 501,292. Cathay General Bancorp has a 52 week low of $31.94 and a 52 week high of $44.05. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.35. The company has a market cap of $2.91 billion, a P/E ratio of 10.91, a P/E/G ratio of 1.27 and a beta of 1.25.
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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