Financial News

Cathay General Bancorp (CATY) Reports Earnings Tomorrow: What To Expect

CATY Cover Image

Regional bank Cathay General Bancorp (NASDAQ: CATY) will be reporting results this Thursday afternoon. Here’s what investors should know.

Cathay General Bancorp beat analysts’ revenue expectations by 2.1% last quarter, reporting revenues of $207.3 million, up 11.9% year on year. It was a mixed quarter for the company, with a solid beat of analysts’ revenue estimates but a significant miss of analysts’ EPS estimates.

Is Cathay General Bancorp a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, analysts are expecting Cathay General Bancorp’s revenue to grow 12.8% year on year to $211.8 million, a reversal from the 4.3% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.23 per share.

Cathay General Bancorp Total Revenue

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Cathay General Bancorp has missed Wall Street’s revenue estimates twice over the last two years.

Looking at Cathay General Bancorp’s peers in the regional banks segment, some have already reported their Q4 results, giving us a hint as to what we can expect. ServisFirst Bancshares delivered year-on-year revenue growth of 22.9%, beating analysts’ expectations by 6.8%, and Simmons First National reported revenues up 15.9%, topping estimates by 4.1%.

Read our full analysis of ServisFirst Bancshares’s results here and Simmons First National’s results here.

Investors in the regional banks segment have had steady hands going into earnings, with share prices flat over the last month. Cathay General Bancorp is down 1.5% during the same time and is heading into earnings with an average analyst price target of $54.20 (compared to the current share price of $49.69).

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