LOS ANGELES (AP) — LOS ANGELES (AP) — Cathay General Bancorp (CATY) on Monday reported third-quarter net income of $67.5 million.
The Los Angeles-based bank said it had earnings of 94 cents per share. Earnings, adjusted for non-recurring costs, were 97 cents per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 98 cents per share.
The holding company for Cathay Bank posted revenue of $359.9 million in the period. Its revenue net of interest expense was $189.5 million, beating Street forecasts.
Cathay shares have increased slightly since the beginning of the year. In the final minutes of trading on Monday, shares hit $44.59, a rise of 30% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CATY at https://www.zacks.com/ap/CATY
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