Cathay General: Turnaround Seems Near, Buy On Dips

ClaudineVM Earnings of Cathay General Bancorp (NASDAQ:CATY) will likely dip this year before recovering next year. Both loan growth and margin expansion will lift the bottom line. Overall, I’m expecting the company to report earnings of $3.90 per share for 2024, down 20% year-over-year, and $4.37 per share for 2025, up 12% year-over-year. The year-end target price suggests a small downside from the current market price. As a result, I’m maintaining a hold rating on the company. However, due to the prosp ...