Hope Bancorp Inc Down 1.15% To $8.63 After Earnings Miss

Hope Bancorp Inc (HOPE) said before open Monday that it earned $0.25 per share in quarter three 2023.

On the revenue line, the company reported $143.7 million, beating estimates by $5.4 million.

In the same quarter a year ago, the company earned $0.45 per share on revenue of $166.5 million.

The stock is down 1.15% to $8.63 after the report.

Hope Bancorp Inc's profit margins took a hit as earnings fell at a faster pace than revenues.

Wall Street Analysts had an average rating of Hold on the stock prior to the report.

Trading in the five days leading up to the report earned Hope Bancorp Inc a Bearish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 31. Meanwhile, the average Wall Street analyst rated the stock a Hold.

Hope Bancorp Inc is a bank holding company engaged in providing financial services. It offers core business banking products for small and medium-sized businesses and individuals. Services offered by the bank include online banking, mobile banking, mortgage loans, credit cards, investment and wealth management services and other banking services.