Hope Bancorp Posts 3Q EPS of 28 Cents
HOPE sits 46% above its 52-week low of $9.8.
Summary
Hope Bancorp reported third-quarter earnings per share of 28 cents, per Dow Jones Newswires, with net income of $35.6 million, or $0.28 per diluted share, up 8% from the second quarter's $33.0 million; excluding notable items, EPS was $0.29. The print lands with shares near a 52-week high of $14.59, so expectations were already elevated heading into the release. This is the first quarterly report since the October 1 completion of the SMBC MANUBANK commercial banking unit acquisition, making it the first look at how the deal affects the combined earnings base. The headline carries the EPS figure only — no revenue, margin, or guidance detail — so the quality of the beat or miss versus consensus isn't yet clear from this item.
Updated with an SEC 8-K filing · What changed
Updates
· SEC 8-K — Hope Bancorp's Q3 net income was $35.6 million, or $0.28 per diluted share, up 8% from Q2's $33.0 million; excluding notable items, EPS was $0.29.
At the time of this announcement, HOPE was trading at $14.30 on NASDAQ in the Finance sector, with a market capitalization of approximately $1.8B. The 52-week trading range was $9.80 to $14.59. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.