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

Cathay General Bancorp

22/04/2024 22:36

* Cathay General Bancorp  CATY.OQ  reported quarterly
adjusted
earnings of 98 cents​​ per share for the quarter ended in March,
lower than the same quarter last year, when the company reported
EPS of $1.32.  The mean expectation of six analysts for the
quarter was for earnings of 98 cents per share. Wall Street
expected results to range from 84 cents to $1.10 per share.
    * Revenue fell 15.2% to $175.18 million from a year ago;
analysts
expected $187.46 million. 
    * Cathay General Bancorp's reported EPS for the quarter was
98
cents​.
    * The company reported quarterly net income of $71.4
million.
    * Cathay General Bancorp shares had fallen by 4.8% this
quarter and lost 19.2% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 9.1%
in the last three months.​ 
    * In the last 30 days, two analysts negatively revised
earnings
estimates

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 $40.50 
This summary was machine generated from LSEG data April 22 at
09:36 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
 Mar. 31 2024      0.98           0.98           Met
 Dec. 31 2023      1.06           1.13           Beat
 Sep. 30 2023      1.10           1.13           Beat
 Jun. 30 2023      1.13           1.28           Beat