CATY
Cathay General Bancorp (NASDAQ: CATY) reported strong financial performance with net income of $92.
Article Summary
HOLD- Cathay General Bancorp (NASDAQ: CATY) reported strong financial performance with net income of $92.2 million or $1.37 per diluted share, with net interest income rising to $200.9 million and net interest margin expanding to 3.48%, marking the eighth consecutive quarter of NIM expansion.
- Period-end loans increased 2.2% linked quarter to $20.6 billion, with period-end deposits rising 1.9% to $21.1 billion, and non-interest income increased $0.7 million from the prior quarter, while non-Interest Expense increased to $ 92.3 million from $86. 7 million.
- The efficiency ratio increased to 41.5% from 40.4% due to higher low-income housing tax credit amortization, while credit quality remained strong with net charge-offs declining and improved levels of criticized and classified assets.
- Cathay General Bancorp completed a securities repositioning despite a $10.
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Growth Stock Scoring Breakdown
| METRIC | VALUE | WEIGHT | ANALYSIS |
|---|---|---|---|
| Sales Growth TTM ? | 0.2% | 25% | 20.0 ptsMinimal (0.2%) - Very weak |
| EPS Growth Next 5Y ? | 0.0% | 25% | 10.0 ptsVery Weak (0.0%) - Minimal expectations |
| Target Price Upside ? | 1.1% | 20% | 10.0 ptsNear/At Target (1.1%) - Target: $60.70 vs Current: $61.36 |
| Gross Margin % ? | — | 15% | 40.0 ptsNo Gross Margin Data |
| Drawdown from 52-Wk High ? | -4.0% | 15% | 20.0 ptsBarely a Dip (-4.0%) - Near recent highs |
Disclaimer: This rating is for informational purposes only and is not financial advice.
All data sourced from Finviz.
Always conduct your own research and consult with a financial advisor before making investment decisions.
Past performance does not guarantee future results.
About CATY
- 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.
- It offers savings accounts, checking accounts, money market deposit accounts, certificates of deposit, individual retirement accounts, and public funds deposits, and acceptance of checking, savings, demand deposits, time deposits, real estate, and consumer loans.
- The company also provides loan products, such as commercial real estate loans, commercial loans, small business administration loans, residential mortgage loans, real estate construction loans, and home equity lines of credit, and installment loans to individuals for household and other consumer expenditures.
- In addition, it offers trade financing, letter of credit, wire transfer, foreign currency spot and forward contract, safe deposit, overdraft, cash checking, automatic teller machine, Internet banking, investment, and other customary bank services, as well as investment products and services, such as stocks, bonds, mutual funds, insurance, annuities, and advisory services.
- The company was formerly known as Cathay Bancorp, Inc. and changed its name to Cathay General Bancorp in November 2003.
- Cathay General Bancorp was founded in 1962 and is headquartered in Los Angeles, California.