Cathay General Bancorp (NASDAQ:CATY – Get Rating) announced a quarterly dividend on Monday, May 16th, Zacks reports. Investors of record on Friday, May 27th will be paid a dividend of 0.34 per share by the bank on Monday, June 6th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date of this dividend is Thursday, May 26th.
Cathay General Bancorp has increased its dividend by an average of 7.2% per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Cathay General Bancorp has a dividend payout ratio of 27.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Cathay General Bancorp to earn $5.06 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 26.9%.
Cathay General Bancorp stock opened at $39.53 on Wednesday. The business has a fifty day moving average of $43.22 and a two-hundred day moving average of $44.29. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.07. The firm has a market cap of $2.97 billion, a P/E ratio of 10.32 and a beta of 1.23. Cathay General Bancorp has a twelve month low of $35.51 and a twelve month high of $48.88.
Cathay General Bancorp (NASDAQ:CATY – Get Rating) last posted its earnings results on Monday, April 25th. The bank reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.06. The company had revenue of $179.42 million during the quarter, compared to analyst estimates of $167.80 million. Cathay General Bancorp had a return on equity of 12.26% and a net margin of 40.53%. Cathay General Bancorp’s revenue was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.92 earnings per share. Equities analysts expect that Cathay General Bancorp will post 4.41 earnings per share for the current year.
Separately, StockNews.com initiated coverage on Cathay General Bancorp in a research report on Thursday, March 31st. They set a “hold” rating on the stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CATY. Royal Bank of Canada increased its position in shares of Cathay General Bancorp by 4.7% in the 3rd quarter. Royal Bank of Canada now owns 12,724 shares of the bank’s stock valued at $527,000 after acquiring an additional 569 shares during the period. Janus Henderson Group PLC acquired a new position in shares of Cathay General Bancorp in the 3rd quarter valued at $316,000. Barclays PLC boosted its holdings in Cathay General Bancorp by 51.2% in the fourth quarter. Barclays PLC now owns 166,257 shares of the bank’s stock valued at $7,147,000 after purchasing an additional 56,321 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Cathay General Bancorp by 27.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 456,018 shares of the bank’s stock valued at $19,605,000 after purchasing an additional 98,124 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in Cathay General Bancorp in the fourth quarter valued at $980,000. 69.48% of the stock is currently owned by hedge funds and other institutional investors.
Cathay General Bancorp Company Profile (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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