Cathay General Bancorp reports results for the quarter ended in June - Earnings Summary

Cathay General Bancorp

22/07/2024 22:43

* Cathay General Bancorp  CATY.OQ  reported quarterly
adjusted
earnings of 92 cents​​ per share for the quarter ended in June,
lower than the same quarter last year, when the company reported
EPS of $1.28.  The mean expectation of six analysts for the
quarter was for earnings of 94 cents per share. Wall Street
expected results to range from 84 cents to $1.03 per share.
    * Revenue fell 12.8% to $178.53 million from a year ago;
analysts
expected $179.18 million. 
    * Cathay General Bancorp's reported EPS for the quarter was
92
cents​.
    * The company reported quarterly net income of $66.83
million.
    * Cathay General Bancorp shares had risen by 11.3% this
quarter and lost 5.8% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 3.8%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 1 "strong buy" or "buy," 4
"hold" and 1 "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
also "hold"

Wall Street's median 12-month price target for Cathay General
Bancorp is $40.00 
This summary was machine generated from LSEG data July 22 at
09:43 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jan. 1 0001       0.94           0.92           Missed
 Mar. 31 2024      0.98           0.98           Met
 Dec. 31 2023      1.06           1.13           Beat
 Sep. 30 2023      1.10           1.13           Beat