Hope Bancorp (NASDAQ:HOPE – Get 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
Hope Bancorp Company Profile
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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