Cathay General Bancorp (CATY), the parent company of Cathay Bank, announced that its board has approved a new share repurchase program. This program authorizes the company to buy back up to $125 million worth of its common stock.
The prior share repurchase program, also valued at $125 million, was announced on May 26, 2022, and concluded on February 21, 2023. During this period, the company repurchased 2.90 million shares at an average price of $43.14 per share.
