Cathay shares trend lower despite expansion, earnings.(Cathay General Bancorp Inc.)(Company overview)

From: Los Angeles Business Journal | Date: April 16, 2007| Author: | Copyright information

CATHAY General Bancorp Inc. is locked in a three-way race to win the hearts and money of the nation's Chinese American community. But despite rapid expansion and successive years of solid earnings, Wall Street has yet to reward the bank holding company's stock.

Since last year, the bank has grown its assets from 27 percent to more than $8 billion, bought back 1 million shares and boosted its dividend. Yet shares of Los Angeles-based Cathay closed April 11 at $32.98; that's 17 percent off a 52-week high reached 11 months ago.

Cathay is the No. 3 bank in Los Angeles County ...

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