Keefe, Bruyette & Woods Comments On Cathay General Bancorp Results

According to Keefe, Bruyette & Woods, Cathay General Bancorp (NASDAQ: CATY) results beat expectations on lower credit costs, which are moderating for the bank, removing volatility in results.

Keefe, Bruyette & Woods said that Cathay is on track to reach their target NIM of 3.6% by year-end. “But, to achieve its short-term goals, Cathay is taking on duration risk to generate yield, and we worry about the impact when rates begin to rise. Updating estimates, PT unchanged.”

Cathay General Bancorp closed Thursday at $17.08.