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
Metric
Beat/Miss
Actual
Consensus 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
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(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.)