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

Hope Bancorp (NASDAQ:HOPE) issued its earnings results on Monday. The financial services provider reported $0.20 earnings per share 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 Down 0.7 %

Shares of HOPE stock traded down $0.08 on Monday, hitting $12.04. The stock had a trading volume of 110,053 shares, compared to its average volume of 547,745. Hope Bancorp has a 12-month low of $9.80 and a 12-month high of $14.53. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 14.23 and a beta of 1.16. The business 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.

Insiders Place Their Bets

In related news, Director Steven Koh sold 96,620 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $13.33, for a total transaction 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Angelee Harris sold 3,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $14.16, for a total transaction of $42,480.00. Following 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 129,224 shares of company stock valued at $1,737,873. Corporate insiders own 5.29% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research note 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.