Cathay: Q4 Earnings Snapshot

LOS ANGELES (AP) — LOS ANGELES (AP) — Cathay General Bancorp (CATY) on Wednesday reported fourth-quarter profit of $82.5 million.

The bank, based in Los Angeles, said it had earnings of $1.13 per share. Earnings, adjusted for non-recurring costs, came to $1.25 per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.10 per share.

The holding company for Cathay Bank posted revenue of $356.4 million in the period. Its revenue net of interest expense was $205.2 million, also exceeding Street forecasts.

For the year, the company reported profit of $354.1 million, or $4.86 per share. Revenue was reported as $810 million.

Cathay shares have declined slightly more than 1% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $43.95, a rise of 3% 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