Cathay General Bancorp (CATY) Receives Consensus Rating of “Hold” from Analysts

Cathay General Bancorp (NASDAQ:CATY) has earned a consensus rating of “Hold” from the ten ratings firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $45.13.

Several equities research analysts have commented on the stock. BidaskClub cut shares of Cathay General Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. ValuEngine raised shares of Cathay General Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. BMO Capital Markets boosted their price target on shares of Cathay General Bancorp to $51.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 31st. Keefe, Bruyette & Woods reissued a “hold” rating and set a $44.00 price target on shares of Cathay General Bancorp in a research report on Friday, December 22nd. Finally, Piper Jaffray reissued a “buy” rating and set a $51.00 price target on shares of Cathay General Bancorp in a research report on Tuesday, January 9th.

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In other news, Vice Chairman Peter Wu sold 33,045 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 12,976 shares in the company, valued at approximately $575,615.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kim R. Bingham sold 3,800 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $44.71, for a total transaction of $169,898.00. Following the transaction, the executive vice president now owns 21,803 shares in the company, valued at $974,812.13. The disclosure for this sale can be found here. Insiders have sold a total of 56,845 shares of company stock worth $2,474,174 over the last 90 days. 5.76% of the stock is owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in CATY. APG Asset Management N.V. increased its stake in shares of Cathay General Bancorp by 219.7% during the 4th quarter. APG Asset Management N.V. now owns 392,900 shares of the bank’s stock worth $13,798,000 after purchasing an additional 270,000 shares during the last quarter. Chicago Equity Partners LLC grew its stake in Cathay General Bancorp by 159.1% in the 4th quarter. Chicago Equity Partners LLC now owns 242,780 shares of the bank’s stock valued at $10,238,000 after buying an additional 149,090 shares during the last quarter. BlackRock Inc. grew its stake in Cathay General Bancorp by 1.3% in the 4th quarter. BlackRock Inc. now owns 8,862,311 shares of the bank’s stock valued at $373,722,000 after buying an additional 112,337 shares during the last quarter. TIAA CREF Investment Management LLC grew its stake in Cathay General Bancorp by 22.0% in the 4th quarter. TIAA CREF Investment Management LLC now owns 465,810 shares of the bank’s stock valued at $19,643,000 after buying an additional 84,086 shares during the last quarter. Finally, MetLife Investment Advisors LLC acquired a new position in Cathay General Bancorp in the 4th quarter valued at about $3,478,000. Institutional investors own 67.91% of the company’s stock.

NASDAQ:CATY traded up $0.10 on Friday, hitting $39.98. 467,094 shares of the company’s stock were exchanged, compared to its average volume of 408,526. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.04 and a quick ratio of 1.04. Cathay General Bancorp has a 52 week low of $34.00 and a 52 week high of $45.59. The stock has a market capitalization of $3,243.10, a PE ratio of 16.25, a price-to-earnings-growth ratio of 1.59 and a beta of 1.38.

Cathay General Bancorp (NASDAQ:CATY) last issued its quarterly earnings results on Tuesday, January 30th. The bank reported $0.61 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.02). Cathay General Bancorp had a return on equity of 10.46% and a net margin of 28.74%. The business had revenue of $143.51 million for the quarter, compared to the consensus estimate of $139.43 million. During the same period last year, the firm earned $0.60 earnings per share. The company’s quarterly revenue was up 21.8% compared to the same quarter last year. analysts anticipate that Cathay General Bancorp will post 3.15 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 12th. Stockholders of record on Thursday, March 1st were paid a dividend of $0.24 per share. The ex-dividend date was Wednesday, February 28th. This represents a $0.96 annualized dividend and a dividend yield of 2.40%. Cathay General Bancorp’s dividend payout ratio is presently 39.02%.

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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.

Analyst Recommendations for Cathay General Bancorp (NASDAQ:CATY)

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