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Cathay General Bancorp (CATY)
NASDAQ:CATY
Earnings Data
Report Date
Apr 21, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.95Last Year’s EPS
0.98Same Quarter Last Year
Based on 4 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Jan 22, 2025
|% Change Since: -21.31%
|Next Earnings Date:Apr 21, 2025
Earnings Call Sentiment|Neutral
The earnings call reflected a mixed performance with strong net income growth and stock buyback activities, but was offset by challenges such as a decrease in total deposits, an increase in nonaccrual loans, and a surge in net charge-offs.Company Guidance
During the earnings call for Cathay General Bancorp, several key financial metrics for Q4 2024 were highlighted. The bank reported a net income of $80.2 million, an 18.8% increase from the previous quarter, with earnings per share rising to $1.12. The net interest margin improved slightly to 3.07%, supported by a loan portfolio comprising 63% fixed rate and hybrid loans. Total gross loans saw a modest increase, with significant growth in CRE and construction loans, despite a decline in residential mortgages and commercial loans. The quarter also saw a notable $258 million decrease in total deposits, driven by a reduction in broker deposits. Cathay General Bancorp's capital ratios remained strong, with the Tier 1 leverage ratio at 10.97% and the Tier 1 risk-based capital ratio at 13.55%. Looking forward, the bank anticipates loan and deposit growth between 3% and 4% in 2025, and a net interest margin ranging from 3.10% to 3.20%.Significant Increase in Net Income
Net income for Q4 2024 was $80.2 million, an 18.8% increase compared to $67.5 million in Q3. This was driven by an increase in net interest income, a decrease in noninterest expense, and a decrease in income tax expense.
Stock Buyback Program
Cathay General Bancorp repurchased 506,651 shares of common stock at an average cost of $47.10 per share, totaling $23.9 million under their $125 million stock buyback program.
Growth in Core Deposits
Total core deposits increased by $417 million or 16.7% annualized in Q4 2024 due to seasonal factors and marketing activities.
Strong Capital Ratios
Tier 1 leverage capital ratio increased to 10.97%, Tier 1 risk-based capital ratio to 13.55%, and total risk-based capital ratio to 15.09% as of December 31, 2024.
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CATY Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CATY Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Jan 22, 2025 | $48.42 | $46.54 | -3.88% |
| Oct 21, 2024 | $43.98 | $44.77 | +1.80% |
| Jul 22, 2024 | $42.10 | $42.38 | +0.67% |
| Apr 22, 2024 | $35.50 | $33.82 | -4.73% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Cathay General Bancorp (CATY) report earnings?
Cathay General Bancorp (CATY) is schdueled to report earning on Apr 21, 2025, TBA Not Confirmed.
What is Cathay General Bancorp (CATY) earnings time?
Cathay General Bancorp (CATY) earnings time is at Apr 21, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CATY EPS forecast?
CATY EPS forecast for the fiscal quarter 2025 (Q1) is 0.95.
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