Cathay General Bancorp (NASDAQ:CATY) declared a quarterly dividend on Thursday, May 16th, RTT News reports. Stockholders of record on Monday, June 3rd will be paid a dividend of 0.31 per share by the bank on Thursday, June 13th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.40%.

Cathay General Bancorp has raised its dividend payment by an average of 22.5% per year over the last three years and has increased its dividend every year for the last 6 years.

Shares of CATY opened at $36.50 on Friday. Cathay General Bancorp has a one year low of $31.94 and a one year high of $44.05. The stock has a market capitalization of $2.88 billion, a PE ratio of 10.93, a PEG ratio of 1.29 and a beta of 1.26. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.29.

Cathay General Bancorp (NASDAQ:CATY) last announced its quarterly earnings data on Wednesday, April 17th. The bank reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.03. The company had revenue of $156.24 million during the quarter, compared to the consensus estimate of $153.10 million. Cathay General Bancorp had a net margin of 36.43% and a return on equity of 13.08%. During the same quarter last year, the firm posted $0.78 EPS. On average, research analysts forecast that Cathay General Bancorp will post 3.48 earnings per share for the current fiscal year.

Several equities research analysts recently issued reports on CATY shares. BidaskClub lowered shares of Cathay General Bancorp from a “sell” rating to a “strong sell” rating in a report on Friday, March 22nd. Zacks Investment Research lowered shares of Cathay General Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, April 3rd.

In other Cathay General Bancorp news, EVP Kim R. Bingham sold 4,200 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $37.92, for a total transaction of $159,264.00. Following the sale, the executive vice president now directly owns 28,263 shares of the company’s stock, valued at approximately $1,071,732.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Anthony M. Tang sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $39.76, for a total transaction of $397,600.00. Following the sale, the insider now directly owns 258,006 shares in the company, valued at $10,258,318.56. The disclosure for this sale can be found here. Insiders own 4.73% of the company’s stock.

Cathay General Bancorp announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, May 7th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the bank to repurchase up to 1.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.

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Cathay General Bancorp Company Profile

Cathay General Bancorp operates as the holding company for Cathay Bank that offers various commercial banking products and services to individuals, professionals, and small to medium-sized businesses in the United States. The company offers various deposit products, including passbook accounts, checking accounts, money market deposit accounts, certificates of deposit, individual retirement accounts, and public funds deposits.

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Dividend History for Cathay General Bancorp (NASDAQ:CATY)

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