Cathay General Bancorp (NASDAQ:CATY – Get Rating) had its price target decreased by investment analysts at Truist Financial from $46.00 to $43.00 in a report released on Wednesday, The Fly reports. Truist Financial’s price objective would suggest a potential upside of 11.54% from the company’s current price.
Separately, StockNews.com assumed coverage on shares of Cathay General Bancorp in a research report on Thursday, March 31st. They set a “hold” rating on the stock.
Shares of CATY stock opened at $38.55 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market cap of $2.90 billion, a PE ratio of 9.96 and a beta of 1.23. The company has a 50-day moving average of $41.05 and a two-hundred day moving average of $43.69. Cathay General Bancorp has a 1-year low of $35.51 and a 1-year high of $48.88.
Cathay General Bancorp (NASDAQ:CATY – Get Rating) last issued its quarterly earnings results on Monday, April 25th. The bank reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.06. The business had revenue of $179.42 million for the quarter, compared to analysts’ expectations of $167.80 million. Cathay General Bancorp had a net margin of 40.53% and a return on equity of 12.26%. The business’s quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.92 earnings per share. Sell-side analysts anticipate that Cathay General Bancorp will post 4.41 EPS for the current fiscal year.
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A number of large investors have recently modified their holdings of the stock. Origin Asset Management LLP acquired a new stake in Cathay General Bancorp in the first quarter valued at approximately $334,000. Walleye Trading LLC acquired a new stake in Cathay General Bancorp in the first quarter valued at approximately $262,000. Jane Street Group LLC raised its holdings in Cathay General Bancorp by 146.6% in the first quarter. Jane Street Group LLC now owns 17,332 shares of the bank’s stock valued at $776,000 after acquiring an additional 10,305 shares in the last quarter. First Republic Investment Management Inc. raised its holdings in Cathay General Bancorp by 44.2% during the first quarter. First Republic Investment Management Inc. now owns 34,893 shares of the bank’s stock worth $1,561,000 after purchasing an additional 10,696 shares in the last quarter. Finally, Guggenheim Capital LLC raised its holdings in Cathay General Bancorp by 2.9% during the first quarter. Guggenheim Capital LLC now owns 40,367 shares of the bank’s stock worth $1,806,000 after purchasing an additional 1,125 shares in the last quarter. 69.48% of the stock is currently owned by hedge funds and other institutional investors.
About Cathay General Bancorp (Get Rating)
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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