LOS ANGELES (AP) — LOS ANGELES (AP) — Cathay General Bancorp (CATY) on Monday reported second-quarter net income of $93.2 million.
The bank, based in Los Angeles, said it had earnings of $1.28 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.17 per share.
The holding company for Cathay Bank posted revenue of $323.2 million in the period. Its revenue net of interest expense was $204.6 million, also beating Street forecasts.
Cathay shares have dropped 11% since the beginning of the year. In the final minutes of trading on Monday, shares hit $36.28, a decrease of 11% in the last 12 months.
_____
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
For copyright information, check with the distributor of this item, STATS Perform dba Automated Insights.
, source Associated Press News