Hope Bancorp (NASDAQ:HOPE) Posts Earnings Results, Beats Expectations By $0.03 EPS

Hope Bancorp (NASDAQ:HOPE) released its earnings results on Monday. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03, Zacks reports. Hope Bancorp had a return on equity of 5.52% and a net margin of 9.81%.

Hope Bancorp Stock Performance

Hope Bancorp stock traded down $0.08 during trading hours on Monday, hitting $12.04. The company had a trading volume of 110,053 shares, compared to its average volume of 547,745. Hope Bancorp has a one year low of $9.80 and a one year high of $14.53. The firm has a market cap of $1.45 billion, a PE ratio of 14.23 and a beta of 1.16. The firm has a 50-day moving average of $12.72 and a 200 day moving average of $12.64. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.96 and a quick ratio of 0.96.

Insider Transactions at Hope Bancorp

In other Hope Bancorp news, Director Daisy Y. Ha sold 27,104 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $13.83, for a total value of $374,848.32. Following the sale, the director now owns 446,806 shares of the company’s stock, valued at approximately $6,179,326.98. This trade represents a 5.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Steven Koh sold 96,620 shares of Hope Bancorp stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $13.33, for a total value of $1,287,944.60. Following the completion of the transaction, the director now owns 3,167,023 shares in the company, valued at approximately $42,216,416.59. This represents a 2.96 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 129,224 shares of company stock worth $1,737,873. Company insiders own 5.29% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, December 6th.

Hope Bancorp Company Profile

Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides retail and commercial banking services for businesses and individuals in the United States. It accepts personal and business checking, money market, savings, time deposit, and individual retirement accounts. The company also offers loans comprising commercial and industrial loans to businesses for various purposes, such as working capital, purchasing inventory, debt refinancing, business acquisitions, international trade finance, other business-related financing, and loans syndication services; commercial real estate loans; residential mortgage loans; small business administration loans; and consumer loans, such as single-family mortgage, home equity, automobile, credit card, and personal loans.