Cathay General Bancorp jumps after Q1 profit beats estimates

Regional lender Cathay General Bancorp's CATY.O shares jump 7.4% to $41.45

CATY late Monday reported Q1 profit above Wall Street expectations for the second straight quarter

Bank's profit has twice missed Street expectations in the last four quarters, per LSEG

Piper Sandler says Q1 results were largely driven by stronger interest income and lower expenses

Expects share outperformance on the strong results given interest margin expansion, but says some of the upside may be limited by the bank's slower loan growth outlook

Two of 5 brokerages rate the stock "strong buy", 2 "hold" and 1 "sell"; median PT $51 - data compiled by LSEG

As of last close, CATY stock down 18.9% YTD