In the last trading session, 0.33 million Cathay General Bancorp (NASDAQ:CATY) shares changed hands as the company’s beta touched 1.19. With the company’s per share price at $39.86 changed hands at $0.71 or 1.81% during last session, the market valuation stood at $2.94B. CATY’s last price was a discount, traded about -22.63% off its 52-week high of $48.88. The share price had its 52-week low at $35.51, which suggests the last value was 10.91% up since then. When we look at Cathay General Bancorp’s average trading volume, we note the 3-month average coming to 311.93K.
Cathay General Bancorp (NASDAQ:CATY) trade information
Instantly CATY was in green as seen at the end of in last trading. With action 0.71%, the performance over the past five days has been green. The jump to weekly highs of 40.75 on Friday, 07/01/22 added 1.81% to the stock’s daily price. The company’s shares are showing year-to-date downside of -7.28%, with the 5-day performance at 0.71% in the green. However, in the 30-day time frame, Cathay General Bancorp (NASDAQ:CATY) is -3.09% down.
The consensus price target for the stock as assigned by Wall Street analysts is $46.40, meaning bulls need an upside of 14.09% from its current market value. According to analyst projections, CATY’s forecast low is $43.00 with $55.00 as the target high. To hit the forecast high, the stock’s price needs a -37.98% plunge from its current level, while the stock would need to soar -7.88% for it to hit the projected low.
Cathay General Bancorp (CATY) estimates and forecasts
Data shows that the Cathay General Bancorp share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -7.50% over the past 6 months, a 21.32% in annual growth rate that is considerably higher than the industry average of 1.80%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2022 revenue estimates. The rating firms predict current quarter revenue for Cathay General Bancorp will rise 13.40%, while the growth in revenue is estimated to hit 22.60% for the next quarter. Year-over-year growth is forecast to reach 14.70% up from the last financial year.
Consensus estimates given by 5 financial analysts project the company’s revenue in the current quarter to hit an average of $180.78 million. 5 analysts are of the opinion that Cathay General Bancorp’s revenue for the quarter ending Sep 2022 will be $191.02 million. The company’s revenue for the corresponding quarters a year ago was $160.58 million. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 12.60%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 11.60%. The 2022 estimates are for Cathay General Bancorp earnings to increase by 32.30%, but the outlook for the next 5-year period is at 8.00% per year.
Cathay General Bancorp is expected to release its next quarterly earnings report between April 25 and April 29. The 3.41% annual yield figure for the share gives it an annual dividend of 1.36. It is important to note, however, that the 3.41% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision. During the past 5 years, the average dividend yield was 3.16 per year.
Cathay General Bancorp (NASDAQ:CATY)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 5.41% of Cathay General Bancorp shares while 70.86% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 74.91%. There are 70.86% institutions holding the Cathay General Bancorp stock share, with Blackrock Inc. the top institutional holder. As of Mar 30, 2022, the company held 11.76% of the shares, roughly 8.83 million CATY shares worth $395.36 million.
Vanguard Group, Inc. (The) holds the second largest percentage of outstanding shares, with 9.71% or 7.3 million shares worth $313.64 million as of Dec 30, 2021.
Among Mutual Funds, the top two as of Jan 30, 2022 were iShares Core S&P Midcap ETF and Vanguard Total Stock Market Index Fund. With 2.15 million shares estimated at $97.0 million under it, the former controlled 2.86% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.78% of the shares, roughly 2.09 million shares worth around $89.78 million.