Stock of the Day

November 24, 2021

Cathay General Bancorp (CATY)

$61.21
-$0.66 (-1.1%)
Market Cap: $4.13B

About Cathay General Bancorp

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. The company offers various deposit products, including passbook accounts, checking accounts, money market deposit accounts, certificates of deposit, individual retirement accounts, and public funds deposits. It also provides loan products, such as commercial mortgage loans, commercial loans, small business administration loans, residential mortgage loans, real estate construction loans, and home equity lines of credit, as well as installment loans to individuals for household, and other consumer expenditures. In addition, the company offers trade financing, letter of credit, wire transfer, forward currency spot and forward contract, safe deposit, collection, automatic teller machine, Internet banking, investment, and other customary bank services, as well as securities and insurance products. Cathay General Bancorp was founded in 1962 and is headquartered in Los Angeles, California.

Today's Trend

Cathay General Bancorp (NASDAQ: CATY) shares have been supported by a strong second-quarter earnings report and a modest analyst price-target increase.

  • Cathay General Bancorp reported better-than-expected Q2 2026 results, with earnings of $1.37 per share topping estimates and revenue of $221.2 million also beating forecasts. The bank said net income rose to $92.2 million, and revenue increased 13.1% year over year, reinforcing the view that core business momentum remains solid.
  • Keefe, Bruyette & Woods raised its price target on CATY to $67 from $64, signaling improved confidence in the stock’s valuation after the earnings release. The new target implies additional upside from current levels. Article Title
  • Multiple follow-up articles and earnings-call transcripts highlighted the same quarterly beat and management commentary, suggesting the market is still digesting the details rather than reacting to a new surprise. Article Title

Overall, Cathay General Bancorp (CATY) appears to be rising on a combination of earnings strength, revenue growth, and slightly higher analyst expectations following the quarter.

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