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CATY — Cathay General Bancorp News Story

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Cathay General Bancorp Q4 net income rises

Overview

Bank holding company's Q4 net income rose 16.5% from Q3

Net interest margin increased to 3.36% in Q4

Company repurchased shares worth $51.9 mln in Q4

Outlook

Company did not provide specific guidance for future quarters

Result Drivers

NET INTEREST INCOME - Increase driven by lower interest deposit expenses, offsetting decreased income from loans and securities

NON-INTEREST INCOME - Boosted by $6.4 mln increase in unrealized gains on equity securities

Key Details

MetricBeat/MissActualConsensus Estimate
Q4 EPS$1.33
Q4 Net Income$90.5 mln
Q4 Net Interest Income$177.81 mln
Q4 Net Interest Margin (%)3.36%
Analyst Coverage The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 3 "hold" and 1 "sell" or "strong sell" The average consensus recommendation for the banks peer group is "buy." Wall Street's median 12-month price target for Cathay General Bancorp is $54.00, about 3% above its January 21 closing price of $52.44 The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 10 three months ago Press Release: ID:nBw2zr1kJa For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com. (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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