Hope Bancorp (NASDAQ:HOPE) Issues Earnings Results

Hope Bancorp (NASDAQ:HOPE) announced 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 net margin of 9.81% and a return on equity of 5.52%.

Hope Bancorp Trading Up 1.1 %

NASDAQ HOPE opened at $12.25 on Tuesday. The company has a 50-day moving average of $12.70 and a 200-day moving average of $12.65. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.96 and a quick ratio of 0.96. Hope Bancorp has a 12 month low of $9.80 and a 12 month high of $14.53. The company has a market cap of $1.48 billion, a P/E ratio of 14.58 and a beta of 1.16.

Wall Street Analyst Weigh In

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

Insider Activity at Hope Bancorp

In other Hope Bancorp news, EVP Angelee Harris sold 3,000 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $14.16, for a total value of $42,480.00. Following the completion of the sale, the executive vice president now owns 19,795 shares of the company’s stock, valued at $280,297.20. This trade represents a 13.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven Koh sold 96,620 shares of the business’s 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 sale, the director now directly owns 3,167,023 shares of the company’s stock, valued at approximately $42,216,416.59. This represents a 2.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 129,224 shares of company stock worth $1,737,873. 5.29% of the stock is owned by company insiders.

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.