Cathay General Bancorp (CATY) to Issue Quarterly Dividend of $0.34 on December 11th

Cathay General Bancorp (NASDAQ:CATY) declared a quarterly dividend on Thursday, November 20th. Stockholders of record on Monday, December 1st will be paid a dividend of 0.34 per share by the bank on Thursday, December 11th. This represents a c) annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Monday, December 1st.

Cathay General Bancorp has raised its dividend by an average of 0.0%per year over the last three years. Cathay General Bancorp has a payout ratio of 27.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Cathay General Bancorp to earn $4.75 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 28.6%.

Cathay General Bancorp Stock Performance

Shares of CATY stock opened at $48.45 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.04 and a quick ratio of 1.05. The company’s fifty day moving average price is $47.35 and its two-hundred day moving average price is $46.80. The firm has a market capitalization of $3.30 billion, a P/E ratio of 11.19 and a beta of 0.97. Cathay General Bancorp has a 12 month low of $36.06 and a 12 month high of $52.78.

Cathay General Bancorp (NASDAQ:CATY) last announced its earnings results on Tuesday, October 21st. The bank reported $1.13 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.02). Cathay General Bancorp had a net margin of 22.26% and a return on equity of 10.60%. The business had revenue of $210.61 million for the quarter, compared to analyst estimates of $202.71 million. During the same quarter in the prior year, the business earned $0.94 earnings per share. On average, research analysts anticipate that Cathay General Bancorp will post 4.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on CATY. Wall Street Zen upgraded Cathay General Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. Stephens lowered shares of Cathay General Bancorp from an “overweight” rating to an “equal weight” rating and set a $50.00 price target for the company. in a research note on Monday, August 4th. Keefe, Bruyette & Woods upped their price target on shares of Cathay General Bancorp from $53.00 to $55.00 and gave the company a “market perform” rating in a report on Wednesday, October 22nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Cathay General Bancorp in a report on Tuesday. Finally, DA Davidson boosted their target price on shares of Cathay General Bancorp from $51.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, October 23rd. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Cathay General Bancorp has an average rating of “Hold” and a consensus target price of $50.60.

Cathay General Bancorp Company Profile

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.