Hope Bancorp: 4Q Earnings Snapshot

·1 min read

LOS ANGELES (AP) _ Hope Bancorp Inc. (HOPE) on Tuesday reported fourth-quarter net income of $28.3 million.

The bank, based in Los Angeles, said it had earnings of 23 cents per share.

The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.

The bank holding company posted revenue of $153.1 million in the period. Its revenue net of interest expense was $132.2 million, which also missed Street forecasts. Three analysts surveyed by Zacks expected $137.7 million.

For the year, the company reported profit of $111.5 million, or 90 cents per share. Revenue was reported as $520.9 million.

Hope Bancorp shares have climbed 11% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $12.12, a fall of 15% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HOPE at https://www.zacks.com/ap/HOPE