Cathay General Bancorp Declares Quarterly Dividend of $0.38 (NASDAQ:CATY)

Cathay General Bancorp (NASDAQ:CATY) declared a quarterly dividend on Friday, August 14th. Stockholders of record on Friday, August 28th will be paid a dividend of 0.38 per share by the bank on Tuesday, September 8th. This represents a c) dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Friday, August 28th.

Cathay General Bancorp has increased its dividend by an average of 0.0%per year over the last three years. Cathay General Bancorp has a payout ratio of 30.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Cathay General Bancorp to earn $5.83 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 26.1%.

Cathay General Bancorp Trading Down 0.7%

Shares of NASDAQ CATY opened at $61.89 on Wednesday. Cathay General Bancorp has a twelve month low of $44.57 and a twelve month high of $65.25. The stock has a market cap of $4.13 billion, a price-to-earnings ratio of 12.09 and a beta of 0.86. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.04. The company’s fifty day moving average is $62.43 and its 200-day moving average is $56.72.

Cathay General Bancorp (NASDAQ:CATY) last released its quarterly earnings data on Wednesday, July 22nd. The bank reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.02. The business had revenue of $221.20 million during the quarter, compared to analysts’ expectations of $218.28 million. Cathay General Bancorp had a net margin of 24.66% and a return on equity of 11.71%. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.10 EPS. Equities research analysts predict that Cathay General Bancorp will post 5.48 EPS for the current year.

Cathay General Bancorp Company Profile

Cathay General Bancorp is a bank holding company headquartered in Los Angeles, California, trading on NASDAQ under the symbol CATY. Its principal subsidiary, Cathay Bank, provides a full suite of financial services to commercial, institutional and retail clients. As a community-focused institution, the company emphasizes relationship banking and tailored solutions for businesses and individuals.

Founded in 1962 by a group of Chinese American entrepreneurs, Cathay has expanded from a single branch operation in downtown Los Angeles into one of the largest Asian-American banks in the United States.