Cathay General Bancorp Q4 net income rises

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

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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