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Hope Bancorp: 3Q Earnings Snapshot

LOS ANGELES (AP) _ Hope Bancorp Inc. (HOPE) on Monday reported third-quarter profit of $42.6 million.

The bank, based in Los Angeles, said it had earnings of 34 cents per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 32 cents per share.

The bank holding company posted revenue of $185.4 million in the period. Its revenue net of interest expense was $129.3 million, which also beat Street forecasts. Four analysts surveyed by Zacks expected $129.1 million.

Hope Bancorp shares have climbed 22% since the beginning of the year. In the final minutes of trading on Monday, shares hit $14.52, an increase of nearly 1% 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