Reported Earlier, Cathay General Bancorp Announces New $125M Share Repurchase Program
Portfolio Pulse from Benzinga Newsdesk
Cathay General Bancorp has announced a new $125 million share repurchase program. The previous program, also worth $125 million, was completed on February 21, 2023, with the repurchase of 2,897,628 shares at an average cost of $43.14.
May 29, 2024 | 7:00 am
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Cathay General Bancorp has announced a new $125 million share repurchase program, following the completion of a previous $125 million program.
The announcement of a new share repurchase program typically signals confidence from the company in its own stock, which can lead to a positive short-term impact on the stock price. The completion of the previous program also indicates effective execution.
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