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Cathay: 3Q Earnings Snapshot

LOS ANGELES (AP) _ Cathay General Bancorp (CATY) on Wednesday reported third-quarter profit of $72.8 million.

The Los Angeles-based bank said it had earnings of 91 cents per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 88 cents per share.

The holding company for Cathay Bank posted revenue of $208.2 million in the period. Its revenue net of interest expense was $157.4 million, also topping Street forecasts. Three analysts surveyed by Zacks expected $156.1 million.

Cathay shares have increased nearly 4% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $34.85, a drop of 12% 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