Cathay General Bancorp jumps after Q1 profit beats estimates

Cathay General Bancorp

22/04/2025 19:23

** Regional lender Cathay General Bancorp's CATY.O shares jump 7.4% to $41.45

** CATY late Monday reported Q1 profit above Wall Street expectations for the second straight quarter

** Bank's profit has twice missed Street expectations in the last four quarters, per LSEG

** Piper Sandler says Q1 results were largely driven by stronger interest income and lower expenses

** Expects share outperformance on the strong results given interest margin expansion, but says some of the upside may be limited by the bank's slower loan growth outlook

** Two of 5 brokerages rate the stock "strong buy", 2 "hold" and 1 "sell"; median PT $51 - data compiled by LSEG

** As of last close, CATY stock down 18.9% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com;))