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Investing.com - DA Davidson has raised its price target on Cathay General Bancorp (NASDAQ:CATY) to $51.00 from $45.00 while maintaining a Neutral rating on the stock. The bank, currently trading at $48.16 with a market capitalization of $3.38 billion, shows a GOOD financial health score according to InvestingPro analysis.
The firm cited Cathay General’s solid quarter of net interest income growth and net interest margin expansion in its decision to increase the price target.
DA Davidson noted that while the company’s loan loss provision came in higher than the firm’s estimate, it remained below the Street’s average expectation.
The bank has shifted its full-year loan growth guidance back to the original 3%-4% range, with indications it may trend toward the upper end of that range.
Other guidance metrics from Cathay General Bancorp remained unchanged, according to DA Davidson’s analysis of the quarterly results.
In other recent news, Cathay General Bancorp announced its financial results for the second quarter of 2025. The company reported earnings per share (EPS) of $1.10, slightly surpassing the forecast of $1.09. However, the revenue forecast was not met, though specific revenue figures were not disclosed in the earnings call summary. Despite the EPS beat, the stock experienced a minor decline in after-hours trading. These developments highlight the mixed financial performance of Cathay General Bancorp in the recent quarter. The company’s ability to slightly exceed EPS expectations while missing revenue forecasts presents a nuanced financial picture. Analyst firms have not provided any recent upgrades or downgrades for the company. Investors may want to keep an eye on future earnings reports for more detailed insights.
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