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Cathay: 3Q Earnings Snapshot

·1 min read

LOS ANGELES (AP) _ Cathay General Bancorp (CATY) on Monday reported third-quarter earnings of $56.8 million.

The bank, based in Los Angeles, said it had earnings of 71 cents per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 61 cents per share.

The holding company for Cathay Bank posted revenue of $182.2 million in the period. Its revenue net of interest expense was $147.5 million, falling short of Street forecasts. Three analysts surveyed by Zacks expected $148 million.

Cathay shares have fallen 37% since the beginning of the year. In the final minutes of trading on Monday, shares hit $24.08, a drop of 32% 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