Cathay Gnl Bncp Stock Price, News & Analysis

Cathay General Bancorp (Nasdaq: CATY) will announce its first quarter 2021 financial results on April 26, 2021, after market close. A conference call will follow at 3:00 p.m. PT, allowing analysts and investors to engage in a Q&A session. Participants are encouraged to join 5-10 minutes early. The conference call can be accessed via dial-in at (855) 761-3186 (Conference ID: 5682513) or through a live webcast, which will later be available for replay for one year. More details can be found on their website.

Cathay General Bancorp (Nasdaq: CATY) announced a new share repurchase program allowing the repurchase of up to $75,000,000 of common stock. This follows the completion of a previous $50,000,000 program, which saw the buyback of 1,541,912 shares at an average price of $32.43. The repurchases will be conducted on the open market or through private transactions, with timing and volume dependent on market conditions. As of April 1, 2021, the company has approximately 79,597,097 shares outstanding.

Cathay Bank has opened a new Commercial Banking office in Woodland Hills, expanding its services in the San Fernando Valley, West Los Angeles, Santa Clarita Valley, and Ventura County. This office will enhance support for local businesses with a veteran lending team led by Jeffrey Heisinger. They offer a comprehensive range of banking services, including working capital loans and PPP loan participation. The new location joins the existing Northridge branch at 9045 Corbin Ave., strengthening the bank’s footprint in the region.

Cathay Bank has pledged a $1 million donation to its foundation aimed at combating anti-Asian hate crimes and supporting diverse communities. The donation will aid organizations dedicated to addressing discrimination against Asian Americans amid rising violence and xenophobia. Leaders from Cathay Bank emphasize its commitment to equality and the importance of tangible support over mere words. The foundation has historically backed various organizations, reinforcing their mission to educate and empower marginalized communities.

The 2021 Cathay Bank/UCLA Anderson Forecast U.S.-China Annual Economic Report analyzes the U.S. economy under President Biden, suggesting a continuation of some hardline policies towards China, albeit with a diplomatic approach. The report examines U.S.-China trade dynamics, asset prices, and real estate markets, predicting robust growth for both economies post-COVID-19. This collaboration marks the fourth year of insights from UCLA Anderson Forecast, providing detailed economic projections and data-driven analysis to support customers and stakeholders.

Cathay General Bancorp (Nasdaq: CATY) has declared a cash dividend of $0.31 per common share, scheduled for payment on March 11, 2021. Stockholders on record as of the close of business on March 1, 2021 will receive the dividend. This decision reflects the company's ongoing commitment to returning value to its shareholders.

Cathay General Bancorp (CATY) reported its financial results for Q4 and FY 2020. The Q4 net income rose to $70.9 million, or $0.89 per share, up by 5.2% from Q4 2019. However, FY 2020 net income decreased by 18% to $228.9 million. The net interest margin improved to 3.12%, even as total net interest income fell 1% to $139.8 million. There was a $5.0 million reversal for loan losses. Total loans grew to $15.6 billion, up by 3.8% year-over-year, while deposits reached $16.1 billion, a 9.5% increase. Despite challenges, the company remains in a strong capital position with a Tier 1 risk-based capital ratio of 13.52%.

Cathay General Bancorp (Nasdaq: CATY) will announce its fourth quarter and full year 2020 financial results on January 27, 2021, after market close. A conference call is scheduled for the same day at 3:00 PM PT where analysts and investors can participate in a Q&A session. The call will last for about 1 hour and can be accessed via dial-in or webcast. A recorded version will be available for replay within 24 hours post-call until January 27, 2022.

Cathay General Bancorp (NASDAQ: CATY) has declared a cash dividend of $0.31 per common share. This dividend is payable on December 11, 2020, to shareholders who are on record by the close of business on December 1, 2020. As a holding company for Cathay Bank, founded in 1962, it operates 38 branches in California and additional locations in several states and overseas. This announcement reaffirms the company's commitment to returning value to its shareholders.