Cathay General Bancorp (NASDAQ:CATY) Expected to Announce Quarterly Sales of $156.60 Million

Equities research analysts expect that Cathay General Bancorp (NASDAQ:CATY) will announce sales of $156.60 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Cathay General Bancorp’s earnings, with the lowest sales estimate coming in at $156.40 million and the highest estimate coming in at $156.70 million. Cathay General Bancorp posted sales of $155.88 million in the same quarter last year, which suggests a positive year-over-year growth rate of 0.5%. The firm is scheduled to report its next earnings results on Wednesday, January 22nd.

According to Zacks, analysts expect that Cathay General Bancorp will report full-year sales of $622.53 million for the current financial year, with estimates ranging from $618.00 million to $625.10 million. For the next fiscal year, analysts expect that the firm will post sales of $628.17 million, with estimates ranging from $619.50 million to $640.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Cathay General Bancorp.

Cathay General Bancorp (NASDAQ:CATY) last posted its quarterly earnings data on Wednesday, October 16th. The bank reported $0.91 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.03. Cathay General Bancorp had a return on equity of 12.68% and a net margin of 34.23%. The firm had revenue of $157.39 million during the quarter, compared to the consensus estimate of $156.07 million. During the same period in the prior year, the company earned $0.85 EPS.

Several research analysts recently commented on CATY shares. ValuEngine raised Cathay General Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. BidaskClub raised Cathay General Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, September 12th. Wedbush reduced their price objective on Cathay General Bancorp from $40.00 to $39.00 and set an “outperform” rating for the company in a research note on Thursday. Piper Jaffray Companies set a $44.00 price objective on Cathay General Bancorp and gave the company a “buy” rating in a research note on Monday, July 8th. Finally, Zacks Investment Research raised Cathay General Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $41.50.

NASDAQ CATY traded up $0.41 during mid-day trading on Friday, hitting $35.77. The stock had a trading volume of 353,202 shares, compared to its average volume of 297,825. The firm’s 50 day moving average is $34.45 and its 200 day moving average is $35.13. Cathay General Bancorp has a twelve month low of $31.89 and a twelve month high of $40.11. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.06 and a quick ratio of 1.05. The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of 10.71, a PEG ratio of 1.27 and a beta of 1.28.

In related news, EVP Lisa L. Kim sold 3,745 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $34.70, for a total value of $129,951.50. Following the completion of the transaction, the executive vice president now directly owns 3,288 shares of the company’s stock, valued at approximately $114,093.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Kim R. Bingham sold 3,400 shares of the stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $36.21, for a total value of $123,114.00. Following the completion of the transaction, the executive vice president now directly owns 25,269 shares of the company’s stock, valued at $914,990.49. The disclosure for this sale can be found here. 4.73% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of the business. Envestnet Asset Management Inc. grew its holdings in Cathay General Bancorp by 1.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 41,204 shares of the bank’s stock valued at $1,431,000 after buying an additional 433 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in Cathay General Bancorp by 1.4% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 31,145 shares of the bank’s stock valued at $1,118,000 after buying an additional 437 shares in the last quarter. Smith Graham & Co. Investment Advisors LP grew its holdings in Cathay General Bancorp by 0.3% in the 3rd quarter. Smith Graham & Co. Investment Advisors LP now owns 133,930 shares of the bank’s stock valued at $4,652,000 after buying an additional 440 shares in the last quarter. Arizona State Retirement System grew its holdings in Cathay General Bancorp by 0.9% in the 2nd quarter. Arizona State Retirement System now owns 55,425 shares of the bank’s stock valued at $1,990,000 after buying an additional 510 shares in the last quarter. Finally, Parallel Advisors LLC purchased a new stake in Cathay General Bancorp in the 2nd quarter valued at $37,000. Institutional investors own 71.17% of the company’s stock.

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.

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Earnings History and Estimates for Cathay General Bancorp (NASDAQ:CATY)

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