Hope Bancorp (HOPE) Posts Earnings Results, Meets Estimates

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Hope Bancorp (NASDAQ:HOPE) announced its quarterly earnings results on Tuesday. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.34, Briefing.com reports. Hope Bancorp had a net margin of 26.69% and a return on equity of 9.92%. During the same period in the prior year, the firm posted $0.38 earnings per share.

NASDAQ:HOPE opened at $14.15 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59. Hope Bancorp has a twelve month low of $11.37 and a twelve month high of $18.88. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of 9.83, a price-to-earnings-growth ratio of 1.24 and a beta of 1.50.

In other Hope Bancorp news, EVP Jason K. Kim sold 4,750 shares of the firm’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $14.71, for a total transaction of $69,872.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Peter Koh sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $14.92, for a total transaction of $89,520.00. Following the transaction, the executive vice president now owns 54,687 shares of the company’s stock, valued at $815,930.04. The disclosure for this sale can be found here. Company insiders own 5.06% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Hope Bancorp during the fourth quarter worth about $22,668,000. Macquarie Group Ltd. increased its stake in Hope Bancorp by 24.7% during the third quarter. Macquarie Group Ltd. now owns 3,056,749 shares of the financial services provider’s stock valued at $49,428,000 after purchasing an additional 605,983 shares during the last quarter. BlackRock Inc. increased its stake in Hope Bancorp by 3.1% during the fourth quarter. BlackRock Inc. now owns 18,737,782 shares of the financial services provider’s stock valued at $222,230,000 after purchasing an additional 558,951 shares during the last quarter. Oregon Public Employees Retirement Fund bought a new stake in Hope Bancorp during the fourth quarter valued at $47,000. Finally, Marshall Wace LLP bought a new stake in Hope Bancorp during the third quarter valued at $6,454,000. Hedge funds and other institutional investors own 89.65% of the company’s stock.

A number of brokerages have recently issued reports on HOPE. Zacks Investment Research upgraded shares of Hope Bancorp from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a report on Thursday, March 7th. ValuEngine downgraded shares of Hope Bancorp from a “sell” rating to a “strong sell” rating in a report on Wednesday, March 20th. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Hope Bancorp has a consensus rating of “Hold” and a consensus target price of $16.50.

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About Hope Bancorp

Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides banking services to small and medium-sized businesses and individuals in the United States. The company offers personal and business checking, money market, savings, time deposit, and individual retirement accounts.

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Earnings History for Hope Bancorp (NASDAQ:HOPE)

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