$ 162.63 million in expected sales for Cathay General Bancorp (NASDAQ: CATY) this quarter
Brokerages predict that Cathay General Bancorp (NASDAQ: CATY) will report sales of $ 162.63 million for the current quarter, according to Zacks Investment Research. Three analysts put Cathay General Bancorp’s profit in earnings, with the highest sales estimate at $ 163.10 million and the lowest estimate at $ 161.80 million. Cathay General Bancorp reported sales of $ 147.48 million in the same quarter last year, indicating a positive growth rate of 10.3% year-over-year. The company is expected to report its next results on Monday, October 25.
On average, analysts expect Cathay General Bancorp to report annual revenue of $ 640.10 million for the current fiscal year, with estimates ranging from $ 637.60 million to $ 641.70. millions of dollars. For next year, analysts predict the company will post sales of $ 679.23 million, with estimates ranging from $ 671.50 million to $ 683.20 million. Zacks’ sales calculations are an average based on a survey of seller side analysts who provide coverage for Cathay General Bancorp.
Cathay General Bancorp (NASDAQ: CATY) last released its quarterly results on Sunday, July 25. The bank reported earnings of $ 0.97 per share for the quarter, beating Thomson Reuters’ consensus estimate of $ 0.83 of $ 0.14. Cathay General Bancorp recorded a return on equity of 11.47% and a net margin of 39.05%.
Several analysts recently weighed on CATY shares. Zacks Investment Research downgraded Cathay General Bancorp from a “buy” rating to a “conservation” rating in a report released on Monday, August 23. DA Davidson reiterated a “neutral” note on Cathay General Bancorp shares in a research note on Wednesday, July 28.
Hedge funds have recently increased or reduced their stakes in the company. First Horizon Advisors Inc. increased its stake in Cathay General Bancorp by 91.5% in the first quarter. First Horizon Advisors Inc. now owns 653 shares of the bank valued at $ 26,000 after purchasing an additional 312 shares during the period. Meeder Asset Management Inc. increased its position in shares of Cathay General Bancorp by 114.7% during the 1st quarter. Meeder Asset Management Inc. now owns 659 shares of the bank valued at $ 27,000 after purchasing 352 additional shares last quarter. Harvest Fund Management Co. Ltd. purchased a new position in shares of Cathay General Bancorp during the 1st quarter valued at $ 31,000. Dark Forest Capital Management LP purchased a new position in shares of Cathay General Bancorp during the 2nd quarter for a value of $ 32,000. Finally, Quantbot Technologies LP purchased a new position in shares of Cathay General Bancorp during the 1st quarter for a value of $ 53,000. Institutional investors and hedge funds hold 65.30% of the company’s shares.
NASDAQ: CATY opened at $ 40.31 on Friday. The company’s fifty-day moving average is $ 38.64. Cathay General Bancorp has a 52 week low of $ 20.59 and a 52 week high of $ 45.19. The stock has a market cap of $ 3.15 billion, a price-to-earnings ratio of 11.55 and a beta of 1.50. The company has a quick ratio of 1.05, a current ratio of 1.05, and a debt ratio of 0.07.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 9. Shareholders of record on Monday August 30 will receive a dividend of $ 0.31. The ex-dividend date of this dividend is Friday, August 27. This represents a dividend of $ 1.24 on an annualized basis and a return of 3.08%. Cathay General Bancorp’s payout ratio is 43.21%.
About Cathay General Bancorp
Cathay General Bancorp is a holding company which provides financial services. It offers commercial mortgages, business loans, small business administration loans, residential mortgages, real estate construction loans, home equity lines of credit and personal installment loans for expenses. automobiles, housework and other consumer expenses.
Further Reading: Cost of Debt
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