Hope Bancorp (NASDAQ:HOPE) Releases Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Hope Bancorp (NASDAQ:HOPEGet Rating) issued its quarterly earnings results on Tuesday. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.02), MarketWatch Earnings reports. Hope Bancorp had a return on equity of 10.76% and a net margin of 31.65%. During the same quarter in the previous year, the business posted $0.43 EPS.

Hope Bancorp Stock Up 0.6 %

Shares of NASDAQ:HOPE opened at $13.05 on Tuesday. The firm has a fifty day moving average price of $13.07 and a two-hundred day moving average price of $13.74. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.02 and a quick ratio of 1.01. Hope Bancorp has a one year low of $12.27 and a one year high of $17.68. The company has a market cap of $1.56 billion, a price-to-earnings ratio of 7.21 and a beta of 1.21.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Teachers Retirement System of The State of Kentucky bought a new position in Hope Bancorp in the 3rd quarter valued at $468,000. Captrust Financial Advisors raised its stake in Hope Bancorp by 9.2% in the third quarter. Captrust Financial Advisors now owns 18,702 shares of the financial services provider’s stock valued at $236,000 after purchasing an additional 1,576 shares in the last quarter. Balyasny Asset Management LLC purchased a new stake in Hope Bancorp in the third quarter valued at approximately $156,000. Jane Street Group LLC purchased a new stake in Hope Bancorp in the third quarter valued at approximately $830,000. Finally, Algert Global LLC raised its stake in Hope Bancorp by 69.0% in the third quarter. Algert Global LLC now owns 26,191 shares of the financial services provider’s stock valued at $331,000 after purchasing an additional 10,697 shares in the last quarter. 84.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Piper Sandler reduced their price objective on shares of Hope Bancorp to $15.00 in a research note on Friday, September 30th. DA Davidson lifted their price objective on shares of Hope Bancorp to $14.00 in a research note on Thursday, October 27th. Finally, StockNews.com assumed coverage on shares of Hope Bancorp in a research note on Wednesday, October 12th. They issued a “hold” rating for the company.

Hope Bancorp Company Profile

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Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides banking services for small and medium-sized businesses, and individuals in the United States. The company accepts 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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