LOS ANGELES (AP) — LOS ANGELES (AP) — Cathay General Bancorp (CATY) on Wednesday reported fourth-quarter earnings of $80.2 million.
The bank, based in Los Angeles, said it had earnings of $1.12 per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.11 per share.
The holding company for Cathay Bank posted revenue of $345.5 million in the period. Its revenue net of interest expense was $186.5 million, also beating Street forecasts.
For the year, the company reported profit of $286 million, or $3.95 per share. Revenue was reported as $729.7 million.
Cathay shares have increased 2.5% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $48.78, an increase of 11% 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
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