What is DA Davidson’s Estimate for CATY Q4 Earnings?

Cathay General Bancorp (NASDAQ:CATY) – Equities research analysts at DA Davidson issued their Q4 2024 EPS estimates for shares of Cathay General Bancorp in a report issued on Wednesday, October 23rd. DA Davidson analyst G. Tenner forecasts that the bank will post earnings of $1.17 per share for the quarter. The consensus estimate for Cathay General Bancorp’s current full-year earnings is $4.02 per share.

Cathay General Bancorp (NASDAQ:CATY) last announced its quarterly earnings data on Monday, October 21st. The bank reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). Cathay General Bancorp had a net margin of 22.08% and a return on equity of 11.96%. The business had revenue of $359.86 million during the quarter, compared to analysts’ expectations of $182.70 million. During the same period last year, the company posted $1.13 EPS.

Other equities research analysts have also issued reports about the stock. Piper Sandler upped their price target on shares of Cathay General Bancorp from $32.00 to $36.00 and gave the company an “underweight” rating in a report on Tuesday, July 23rd. Wedbush upped their price target on shares of Cathay General Bancorp from $50.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday. Truist Financial upped their price objective on shares of Cathay General Bancorp from $45.00 to $47.00 and gave the stock a “hold” rating in a report on Friday, September 20th. Finally, StockNews.com upgraded shares of Cathay General Bancorp from a “sell” rating to a “hold” rating in a report on Friday, July 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $44.00.

Cathay General Bancorp Trading Down 1.6 %

NASDAQ:CATY opened at $44.83 on Thursday. The company has a fifty day moving average of $43.33 and a 200 day moving average of $39.81. Cathay General Bancorp has a 52 week low of $32.83 and a 52 week high of $46.70. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $3.26 billion, a P/E ratio of 9.92 and a beta of 1.11.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CATY. Vanguard Group Inc. increased its stake in shares of Cathay General Bancorp by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 8,254,816 shares of the bank’s stock worth $367,917,000 after acquiring an additional 196,146 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Cathay General Bancorp by 38.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,129 shares of the bank’s stock worth $2,065,000 after acquiring an additional 16,011 shares in the last quarter. BNP Paribas Financial Markets increased its stake in shares of Cathay General Bancorp by 105.6% in the 1st quarter. BNP Paribas Financial Markets now owns 40,975 shares of the bank’s stock worth $1,550,000 after acquiring an additional 21,042 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Cathay General Bancorp by 1.9% in the 1st quarter. Nordea Investment Management AB now owns 181,928 shares of the bank’s stock worth $6,979,000 after acquiring an additional 3,478 shares in the last quarter. Finally, Texas Permanent School Fund Corp grew its position in Cathay General Bancorp by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 63,582 shares of the bank’s stock valued at $2,405,000 after purchasing an additional 824 shares during the last quarter. 75.01% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Chairman Dunson K. Cheng sold 12,401 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $44.79, for a total value of $555,440.79. Following the completion of the transaction, the chairman now directly owns 149,566 shares in the company, valued at $6,699,061.14. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 4.76% of the company’s stock.

Cathay General Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Thursday, August 29th were issued a $0.34 dividend. The ex-dividend date was Thursday, August 29th. This represents a $1.36 annualized dividend and a yield of 3.03%. Cathay General Bancorp’s dividend payout ratio (DPR) is presently 30.09%.

About Cathay General Bancorp

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.