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Is Cathay General Bancorp (CATY) Stock Outpacing Its Finance Peers This Year?
Investors interested in Finance stocks should always be looking to find the best-performing companies in the group. Has Cathay General (CATY - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Cathay General is one of 885 individual stocks in the Finance sector. Collectively, these companies sit at #3 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Cathay General is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for CATY's full-year earnings has moved 7.1% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that CATY has returned about 2.1% since the start of the calendar year. Meanwhile, the Finance sector has returned an average of -9.5% on a year-to-date basis. This means that Cathay General is outperforming the sector as a whole this year.
One other Finance stock that has outperformed the sector so far this year is Chubb (CB - Free Report) . The stock is up 0.3% year-to-date.
In Chubb's case, the consensus EPS estimate for the current year increased 4.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Cathay General is a member of the Banks - West industry, which includes 34 individual companies and currently sits at #21 in the Zacks Industry Rank. This group has lost an average of 15.8% so far this year, so CATY is performing better in this area.
On the other hand, Chubb belongs to the Insurance - Property and Casualty industry. This 39-stock industry is currently ranked #164. The industry has moved -0.3% year to date.
Investors with an interest in Finance stocks should continue to track Cathay General and Chubb. These stocks will be looking to continue their solid performance.