City National Corp. (CYN) posted third quarter net income of $8.0 million, compared to $16.6 million in the third quarter last year. After the dividend paid on preferred stock under the United States Treasury Department's Capital Purchase Program, third-quarter net income available to common shareholders was $2.5 million, or $0.05 per share, compared to $16.6 million or $0.34 per share in the year-ago period.
On average, 21 analysts polled by Thomson Reuters expected the company to report earnings of $0.08 per share. Analysts' estimates typically exclude special items.
Revenue for the third quarter of 2009 was $230.2 million, compared to $203 million in the preceding year period. Twelve Wall Street analysts expected revenues of $224.92 million.
Further, the company said it continues to expect to remain modestly profitable in 2009.
In addition, the company's Board of Directors declared a 2009 quarterly common stock cash dividend of $0.10 per share, payable on November 18, 2009 to stockholders of record on November 4, 2009.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.