WASHINGTON (dpa-AFX) - City National Corp. (CYN), the parent company of wholly owned City National Bank, reported second-quarter net income attributable to the company of $54.8 million or $1.01 per share, compared to $47.5 million or $0.88 per share in the prior year quarter.
On average, 23 analysts polled by Thomson Reuters expected earnings of $0.88 per share for the quarter. Analysts' estimate typically excludes one-time items.
Total revenue for the second quarter of 2012 was $291.2 million, up 3% from $283 million in the comparable quarter last year, while seventeen analysts estimated revenues of $274.36 million for the quarter.
City National's management continues to anticipate net income growth in 2012, as loans and deposits continue to increase and credit quality remains stable.
Further,the company said its Board has maintained and approved a quarterly common stock cash dividend of $0.25 per share. The company's dividend is payable on August 15, 2012 to stockholders of record on August 1, 2012.
Copyright RTT News/dpa-AFX
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