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Cathay Bank
國泰銀行
Type
Subsidiary of Cathay General Bancorp (國泰萬通金控))
Traded as NASDAQ: CATY
S&P 400 Component
Industry Finance and Insurance
Founded Los Angeles, California, U.S. (1962)
Headquarters Los Angeles, California, U.S.
Key people
Dunson K. Cheng (Executive Chairman)
Pin Tai (CEO, President)
Products Banking
Net income
US$161.1 million (2015)
Total assets US$14.5 billion (2016)
Number of employees
1,122 (2015)
Website https://www.cathaybank.com/

Cathay Bank (traditional Chinese: 國泰銀行; simplified Chinese: 国泰银行; pinyin: Guótài Yínháng) is a Sino-American bank based in Los Angeles, California. Founded in 1962, it has since expanded its network throughout California and into Massachusetts, New York, Texas, Washington, Illinois, New Jersey, Nevada, Maryland, and Hong Kong. Additionally, it has representative offices in Shanghai and Taipei.

The headquarter is in Chinatown, Los Angeles, and there is a corporate center in El Monte, California.

Cathay Bank first opened in 1962 in Los Angeles' Chinatown as the first Sino-American bank in Southern California. In 1979 it opened its first branch office in Monterey Park. Its first overseas representative office in Hong Kong was opened in 1985.

In 1999, Cathay expanded beyond California by opening a loan production office in Houston, Texas, which was converted to a full service branch in 2000. Expansion to New York occurred in 1999 with the acquisition of certain assets of Golden City Commercial Bank.

In 2003, branch offices were opened in Boston, Massachusetts, and Kent, Washington. Cathay merged with General Bank in 2003. In 2006, Cathay prevailed in a bidding war with United Commercial Bank to acquire Great Eastern Bank. Cathay also acquired New Asia Bank in 2006.

On March 31, 2006, announced plans to acquire a 20% stake in First Sino Bank, but the deal fell through due to the companies failing to get approval from the Chinese government. On March 30, 2007, Cathay expanded into New Jersey when it completed its acquisition of United Heritage Bank.

In 2007, Cathay Bank converts its Hong Kong Representative office into a full service branch.

On January 21, 2015, Cathay General Bancorp, the holding company for Cathay Bank, and Asia Bancshares, the holding company for Asia Bank, N.A., announced that they have entered into a definitive agreement for the merger of Asia Bancshares into Cathay. The result of the merger increased Cathay Bank's presence in New York as well as added Maryland to its list of service areas.

On July 8, 2016, Cathay announced plans to acquire Far East National Bank.

News

Cathay General Bancorp -1.71% (financial)

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q4 2020 2021-01-20 Future report Set alerts
Q3 2020 2020-10-14 Future report Set alerts
Q2 2020 2020-07-27 0.68 0.68
Q1 2020 2020-04-27 0.59 0.59
Q4 2019 2020-01-22 0.84 0.84
Q3 2019 2019-10-16 0.91 0.91
Q2 2019 2019-07-17 0.90 0.90
Q1 2019 2019-04-17 0.83 0.83
Q4 2018 2019-01-23 0.80 0.80
Q3 2018 2018-10-17 0.85 0.85

Ratings

2016-07-11 Boost Price Target Keefe, Bruyette & Woods Market Perform $31.00 to $32.00
2016-07-06 Reiterated Rating BMO Capital Markets Outperform $33.00 to $32.00
2016-04-21 Boost Price Target DA Davidson Neutral $30.00 to $33.00
2016-04-15 Downgrade Sandler O'Neill Buy to Hold
2016-01-21 Lower Price Target RBC Capital Outperform $36.00 to $33.00
2016-01-21 Lower Price Target Royal Bank Of Canada Outperform $36.00 to $33.00
2015-07-22 Reiterated Rating Piper Jaffray Hold $31.00 to $32.00
2015-07-22 Reiterated Rating RBC Capital Outperform $32.00 to $36.00
2015-07-22 Reiterated Rating Piper Jaffray Cos. Hold $31.00 to $32.00
2015-06-25 Reiterated Rating Piper Jaffray Neutral $31.00
2015-06-12 Initiated Coverage Piper Jaffray Neutral $31.00
2015-06-04 Boost Price Target BMO Capital Markets Outperform $33.00 to $35.00
2015-04-27 Reiterated Rating Keefe, Bruyette & Woods Hold $30.00
2015-04-24 Downgrade Keefe, Bruyette & Woods Outperform to Market Perform $28.00 to $30.00
2015-03-16 Boost Price Target BMO Capital Markets Outperform $28.00 to $30.00
2015-01-23 Lower Price Target Keefe, Bruyette & Woods Outperform $27.50 to $27.00
2014-11-20 Initiated Coverage Sterne Agee CRT Neutral
2014-07-29 Boost Price Target Keefe, Bruyette & Woods $26.00 to $27.50
2014-07-23 Boost Price Target RBC Capital Outperform $28.00 to $29.00
2014-07-23 Boost Price Target BMO Capital Markets Outperform $29.00
2014-04-17 Lower Price Target DA Davidson Neutral $28.00 to $27.50
2014-04-08 Boost Price Target BMO Capital Markets $27.00 to $28.00
2014-02-04 Upgrade Keefe, Bruyette & Woods Market Perform to Outperform
2014-01-30 Upgrade BMO Capital Markets Market Perform to Outperform $27.00
2014-01-28 Boost Price Target Keefe, Bruyette & Woods $23.50 to $26.00
2013-11-26 Upgrade Raymond James Market Perform to Outperform
2013-10-27 Reiterated Rating BMO Capital Markets Hold $24.00
2013-10-23 Boost Price Target Sandler O'Neill Buy $26.00 to $28.00
2013-10-23 Boost Price Target Keefe, Bruyette & Woods Market Perform $22.50 to $23.50
2013-10-23 Boost Price Target DA Davidson Neutral $23.50 to $28.00
2010-07-28 Reiterated FBR Capital Mkt Perform $12 to $13
2010-03-15 Downgrade B. Riley & Co Buy to Neutral
2010-02-02 Reiterated FBR Capital Mkt Perform $9 to $10
2010-01-29 Reiterated FBR Capital Mkt Perform $8.50 to $9
2009-11-11 Upgrade FBR Capital Underperform to Mkt Perform $8.50
2009-10-09 Upgrade B. Riley & Co Neutral to Buy
2009-07-31 Downgrade B. Riley & Co Buy to Neutral
2016-07-11 Boost Price Target Keefe, Bruyette & Woods Market Perform $31.00 to $32.00
2016-07-06 Reiterated Rating BMO Capital Markets Outperform $33.00 to $32.00
2016-04-21 Boost Price Target DA Davidson Neutral $30.00 to $33.00
2016-04-15 Downgrade Sandler O'Neill Buy to Hold
2016-01-21 Lower Price Target RBC Capital Outperform $36.00 to $33.00

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
CATHAY GENERAL BANCORP 0.90%  (715000) BYFC / CATY /
TANG ANTHONY M EVP 0.38%  (303006) CATY /
CHEN HENG W EVP/CFO 0.13%  (102375) CATY /
CHAN KELLY L 0.11%  (90386) CATY /
CHENG DUNSON K Chairman, President, & CEO 0.11%  (85161) CATY /
WONG IRWIN EVP - Branch Administration 0.05%  (43760) CATY /
Tai Pin EVP, Deputy CLO, Cathay Bank 0.04%  (33690) CATY /
CHANG MICHAEL M Y 0.04%  (30833) CATY /
BINGHAM KIM R EVP - Chief Credit Officer 0.03%  (25208) CATY /
Chow Donald Sang EVP, Chief Credit Officer 0.03%  (22067) CATY /
LIU TING Y 0.03%  (22055) CATY /
WU PETER Executive Vice Chairman/COO 0.02%  (14582) CATY /
POON JOSEPH C H 0.02%  (13291) CATY /
CHIU THOMAS C T 0.01%  (10020) CATY /
CHUNG NELSON 0.01%  (5106) CATY /
OEI PERRY SVP, General Counsel,Secretary 0.01%  (4398) CATY /

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