Cathay General Bancorp reports results for the quarter ended June 30 - Earnings Summary

• Cathay General Bancorp CATY.OQ reported quarterly adjusted earnings of $1.10​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of 92 cents. The mean expectation of five analysts for the quarter was for earnings of $1.10 per share. Wall Street expected results to range from $1.05 to $1.15 per share.

• Revenue rose 10.1% to $196.61 million from a year ago; analysts expected $196.60 million.

• Cathay General Bancorp's reported EPS for the quarter was $1.10​.

• The company reported quarterly net income of $77.45 million.

• Cathay General Bancorp shares had risen by 5.6% this quarter and gained 1.0% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 2.3% in the last three months.​

• In the last 30 days, one analyst negatively revised an earnings estimate

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy," 2 "hold" and 1 "sell" or "strong sell." The average consensus recommendation for the banks peer group is also "buy"

• Wall Street's median 12-month price target for Cathay General Bancorp is $51.00, about 5.7% above its last closing price of $48.09

This summary was machine generated from LSEG data July 22 at 09:01 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)