Cathay General Bancorp (NASDAQ:CATY) stock is soaring 5.04% in pre-market trading on Wednesday following the release of its first-quarter 2025 earnings report. The company's earnings per share (EPS) surpassed analyst estimates by 2.9%, despite a slight decline in net income compared to the same period last year.
The banking group reported a revenue of $172.3 million, which remained flat compared to Q1 2024. Net income came in at $69.5 million, down 2.7% from the previous year, while maintaining a steady profit margin of 40%. The company's EPS of $0.99 exceeded market expectations, demonstrating resilience in a challenging economic environment.
Analysts are optimistic about Cathay General's future, forecasting a 12% annual revenue growth over the next two years, outpacing the 7% growth projected for the US banking industry. This positive outlook, combined with the company's stable dividend history and a current yield of 3.3%, is likely contributing to investor confidence and driving the stock's significant pre-market rally.
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