Hope Bancorp (NASDAQ:HOPE) Releases Earnings Results

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

Hope Bancorp Price Performance

Shares of HOPE stock opened at $12.25 on Tuesday. The company has a market cap of $1.48 billion, a P/E ratio of 14.58 and a beta of 1.16. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.10. Hope Bancorp has a twelve month low of $9.80 and a twelve month high of $14.53. The business has a fifty day simple moving average of $12.70 and a 200 day simple moving average of $12.65.

Insider Activity

In related news, EVP Angelee Harris sold 3,000 shares of Hope Bancorp stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $14.16, for a total transaction of $42,480.00. Following the transaction, the executive vice president now owns 19,795 shares of the company’s stock, valued at $280,297.20. The trade was a 13.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Daisy Y. Ha sold 27,104 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $13.83, for a total transaction of $374,848.32. Following the completion of the sale, the director now owns 446,806 shares of the company’s stock, valued at approximately $6,179,326.98. This represents a 5.72 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 129,224 shares of company stock worth $1,737,873. Insiders own 5.29% of the company’s stock.

Analysts Set New Price Targets

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

About Hope Bancorp

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.