Regional bank Cathay General Bancorp (NASDAQ: CATY) will be reporting earnings this Wednesday after the bell. Here’s what to expect.
Cathay General Bancorp beat analysts’ revenue expectations last quarter, reporting revenues of $213.2 million, up 13.5% year on year. It was a satisfactory quarter for the company, with a beat of analysts’ EPS estimates.
Is Cathay General Bancorp a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Cathay General Bancorp’s revenue to grow 10.1% year on year, improving from the 4.7% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Cathay General Bancorp rarely misses Wall Street’s revenue estimates.
Looking at Cathay General Bancorp’s peers in the regional banks segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Wintrust Financial delivered year-on-year revenue growth of 11.4%, beating analysts’ expectations by 1.2%, and BancFirst reported revenues up 7.8%, topping estimates by 1%. BancFirst traded up 3.6% following the results.
Read our full analysis of Wintrust Financial’s results here and BancFirst’s results here.
There has been positive sentiment among investors in the regional banks segment, with share prices up 10.2% on average over the last month. Cathay General Bancorp is up 11.7% during the same time and is heading into earnings with an average analyst price target of $54.60 (compared to the current share price of $54.43).
ALSO WORTH WATCHING: Nvidia’s Quiet Partner. Nvidia’s chips cost a hundred grand. The connectors that make them work cost even more. One company makes them all.
Every AI server needs specialized infrastructure the chip companies don’t make. High-speed cables. Power connectors. Thermal sensors. This 90-year-old company built a monopoly on it. The AI boom just started. This stock is still flying under the radar. Claim The Stock Ticker Here for FREE.
