CATY Earnings Prediction
The chart below shows how CATY performed 10 days before and after its earnings report, based on data from the past quarters. Typically, CATY sees a -3.53% change in stock price 10 days leading up to the earnings, and a -0.59% change 10 days following the report. On the earnings day itself, the stock moves by +0.51%. This data can give you a slight idea of what to expect for the next quarter's release.
CATY Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
175.02M
-8.10%
2.48%
Gross Margin
--
--
--
Operating Margin
42.56%
-18.25%
-3.71%
Net Margin
38.57%
-10.82%
-1.43%
EPS
0.94
-16.81%
2.17%
No Data Available
CATY Earnings Analysis
Cathay General Bancorp Corporation (CATY.O) Earnings Conference Call
Positive
Net Income Increase: Net income for Q3 2024 increased by 1% to $67,500,000 compared to $66,800,000 in Q2 2024, driven by higher net interest and non-interest income.
Earnings Per Share Increase: Diluted earnings per share rose by 2.2% to $0.94 in Q3 2024, up from $0.92 in Q2 2024, reflecting improved profitability.
Core Deposits Increase: Total core deposits increased by $195,000,000 or 7.8% annualized during Q3 2024, attributed to seasonal factors and marketing activities.
Non-Interest Income Surge: Non-interest income surged by $7,200,000 to $20,400,000 in Q3 2024, primarily due to a $5,700,000 increase in mark-to-market gains on equity securities.
Net Interest Margin Improvement: The net interest margin improved to 3.04% in Q3 2024, up from 3.01% in Q2 2024, indicating a positive trend in interest income as market rates are expected to decline.
Negative
Rising Net Charge Offs: Net charge offs increased to $4,200,000 in Q3 2024 from $8,000,000 in Q2, indicating a concerning trend in loan performance.
Deteriorating Asset Quality: Non-accrual loans rose to 0.84% of total loans, increasing by $55,500,000 to $162,800,000 compared to Q2, highlighting deteriorating asset quality.
Classified Loans Increase: Classified loans increased to $382,000,000 from $324,000,000 in Q2, reflecting a significant rise in credit risk exposure.
Credit Loss Provision Increase: Provision for credit losses surged to $14,500,000 in Q3 2024, up from $6,600,000 in Q2, indicating heightened concerns over future loan performance.
Capital Position Decline: The Tier 1 leverage capital ratio decreased to 10.2% from 10.83% in Q2, suggesting a weakening capital position amidst rising credit risks.
CATY FAQs
How does CATY typically perform around its earnings report dates?
Is Earnings call transcript: Cathay General Bancorp beats Q3 2024 forecasts positive or negative?
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CATY Earning Call Sentiment
Earnings call transcript: Cathay General Bancorp beats Q3 2024 forecasts
CATY.O
0.33%Positive
The earnings call presents mixed signals. Financial performance shows modest growth, but increased non-accrual and classified loans raise concerns. The stock buyback program is positive, yet liquidity risks from uninsured deposits persist. The Q&A section reveals some uncertainties and unclear responses, particularly regarding loan maturity schedules. Overall, the sentiment is balanced, with neither strong positive nor negative indicators dominating.
