Regional banks are rolling out big-time buybacks. See which name is signaling a huge amount of confidence, with the ability to buy back 15% of its shares.
Regional bank Cathay General Bancorp (NASDAQ:CATY) reported Q1 CY2025 results exceeding the market’s revenue expectations, with sales up 7.2% year on year to $187.8 million. Its non-GAAP profit of $0.98 per share was 2.9% above analysts’ consensus estimates.
Banks play a critical role in the financial system, providing everything from commercial loans to wealth management and payment processing services. Still, investors are uneasy as banks face challenges from credit quality concerns and potential regulatory changes.
These doubts have caused the industry to lag recently as banking stocks have collectively shed 10.1% over the past six months. This drawdown was disheartening since the S&P 500 held its ground.
Companies Reporting Before The Bell • MainStreet Bancshares (NASDAQ:MNSB) is projected to report quarterly earnings at $0.52 per share on revenue of $17.10 million.
We’re looking for superior cash flows, which are what they are regardless of the direction of stock price. Such is the life of the dividend-centric value investor. One name I like for this is Cathay General Bancorp.
By the close of today, March 11, 2024, Cathay General (NASDAQ:CATY) will issue a dividend payout of $0.34 per share, resulting in an annualized dividend yield of 3.46%. Only those investors who owned the stock prior to the ex-dividend date on February 27, 2024 will receive this payout.
Companies Reporting Before The Bell • Freeport-McMoRan (NYSE:FCX) is estimated to report quarterly earnings at $0.22 per share on revenue of $5.86 billion.
By the end of today, December 11, 2023, Cathay General (NASDAQ:CATY) is set to deliver a dividend payout of $0.34 per share, equating to an annualized dividend yield of 3.62%. Shareholders who owned the stock prior to the ex-dividend date on November 28, 2023 will receive this payout.
