Cathay General Bancorp CFO Heng W. Chen to Retire, Albert J. Wang to Succeed
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 6d ago
0mins
Source: Businesswire
- Executive Retirement: Heng W. Chen, CFO of Cathay General Bancorp, will retire on March 1, 2026, concluding nearly 42 years in auditing and finance, including 23 years at Cathay, marking a significant leadership transition for the company.
- Succession Plan: Albert J. Wang, currently Deputy CFO, will succeed Chen as CFO and Treasurer, bringing over 28 years of finance and accounting experience, which is expected to provide fresh perspectives and leadership for the company.
- Transition Collaboration: Chen and Wang will work closely together to ensure a smooth transition, with Chen serving as a Special Advisor until December 31, 2026, continuing to support the company during this period.
- Company Growth: Under Chen's tenure, Cathay Bank has achieved sustained growth, delivering strong earnings and consistent shareholder value, demonstrating its robust performance and strategic decision-making capabilities in the financial services industry.
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Analyst Views on CATY
Wall Street analysts forecast CATY stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for CATY is 50.67 USD with a low forecast of 45.00 USD and a high forecast of 55.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
0 Buy
2 Hold
1 Sell
Moderate Sell
Current: 50.690
Low
45.00
Averages
50.67
High
55.00
Current: 50.690
Low
45.00
Averages
50.67
High
55.00
About CATY
Cathay General Bancorp is the holding company of Cathay Bank (the Bank). The Bank offers a range of financial services and operates over 60 branches across the United States in California, New York, Washington, Texas, Illinois, Massachusetts, Maryland, Nevada, and New Jersey. It also has a branch outlet in Hong Kong, and representative offices in Beijing, Shanghai, and Taipei. The Bank provides financial services to diverse commercial and professional businesses in its market areas. It offers products and services to businesses, such as checking and deposit, lines of credits, commercial and commercial real estate loans, merchant services and payment processing, treasury management services, international banking and financing services, and other customary banking services. Through its Cathay Wealth Management business unit, the Bank offers clients a range of investment products and services, such as stocks, bonds, mutual funds, insurance, annuities, and advisory services.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Cathay General Bancorp CFO Heng W. Chen to Retire in 2026
- Executive Retirement: Heng W. Chen, CFO and treasurer of Cathay General Bancorp, will retire on March 1, 2026, marking a significant leadership change that may impact investor confidence.
- Succession Plan: Deputy CFO Albert J. Wang will succeed Chen as CFO and treasurer, ensuring continuity and stability in financial management to support the company's future growth.
- Transition Support: Chen will remain as a special advisor to the office of the president at Cathay Bank until December 31, 2026, aiding the new CFO's transition and ensuring smooth business operations.
- Performance Outlook: Cathay General Bancorp has set a loan growth target of 3.5%-4.5% for 2026 and declared a dividend of $0.34 per share, indicating a focus on shareholder returns while continuing to expand operations.
Continue Reading
Cathay General Bancorp CFO Heng W. Chen to Retire, Albert J. Wang to Succeed
- Executive Retirement: Heng W. Chen, CFO of Cathay General Bancorp, will retire on March 1, 2026, concluding nearly 42 years in auditing and finance, including 23 years at Cathay, marking a significant leadership transition for the company.
- Succession Plan: Albert J. Wang, currently Deputy CFO, will succeed Chen as CFO and Treasurer, bringing over 28 years of finance and accounting experience, which is expected to provide fresh perspectives and leadership for the company.
- Transition Collaboration: Chen and Wang will work closely together to ensure a smooth transition, with Chen serving as a Special Advisor until December 31, 2026, continuing to support the company during this period.
- Company Growth: Under Chen's tenure, Cathay Bank has achieved sustained growth, delivering strong earnings and consistent shareholder value, demonstrating its robust performance and strategic decision-making capabilities in the financial services industry.
Continue Reading