Cathay General Bancorp (CATY) To Go Ex-Dividend on February 27th

Cathay General Bancorp (NASDAQ:CATY) declared a quarterly dividend on Friday, February 14th, RTT News reports. Shareholders of record on Thursday, February 27th will be paid a dividend of 0.34 per share by the bank on Monday, March 10th. This represents a $1.36 annualized dividend and a dividend yield of 2.97%. The ex-dividend date is Thursday, February 27th.

Cathay General Bancorp has raised its dividend by an average of 2.3% per year over the last three years. Cathay General Bancorp has a dividend payout ratio of 28.6% meaning its dividend is sufficiently covered by earnings. 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 Down 0.3 %

CATY opened at $45.74 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.03 and a quick ratio of 1.03. Cathay General Bancorp has a 12 month low of $33.88 and a 12 month high of $55.29. The business has a 50 day simple moving average of $47.31 and a 200-day simple moving average of $46.49. The stock has a market capitalization of $3.26 billion, a P/E ratio of 11.55 and a beta of 1.12.

Cathay General Bancorp (NASDAQ:CATY) last released its quarterly earnings results on Wednesday, January 22nd. The bank reported $1.12 EPS for the quarter, beating the consensus estimate of $1.10 by $0.02. Cathay General Bancorp had a net margin of 20.57% and a return on equity of 10.70%. On average, equities analysts anticipate that Cathay General Bancorp will post 4.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CATY has been the subject of several research reports. Stephens lowered their price objective on shares of Cathay General Bancorp from $60.00 to $57.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. Piper Sandler lowered their price target on shares of Cathay General Bancorp from $45.00 to $43.00 and set an “underweight” rating for the company in a report on Monday, January 27th. Finally, Keefe, Bruyette & Woods dropped their target price on Cathay General Bancorp from $56.00 to $55.00 and set a “market perform” rating on the stock in a research report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Cathay General Bancorp has a consensus rating of “Hold” and an average price target of $50.80.

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.