Cathay: 4Q Earnings Snapshot
LOS ANGELES (AP) _ Cathay General Bancorp (CATY) on Wednesday reported fourth-quarter earnings of $64.9 million.
The bank, based in Los Angeles, said it had earnings of 80 cents per share.
The results met Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of 80 cents per share.
The holding company for Cathay Bank posted revenue of $194.3 million in the period. Its revenue net of interest expense was $155.9 million, which beat Street forecasts. Four analysts surveyed by Zacks expected $155.8 million.
For the year, the company reported profit of $272.2 million, or $3.34 per share. Revenue was reported as $597.2 million.
Cathay shares have increased 11 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $37.31, a fall of 17 percent in the last 12 months.