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Hope Bancorp tops Street 4Q forecasts

LOS ANGELES (AP) _ Hope Bancorp Inc. (HOPE) on Tuesday reported fourth-quarter earnings of $18 million.

The Los Angeles-based bank said it had earnings of 13 cents per share. Earnings, adjusted for pretax expenses, came to 32 cents per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 31 cents per share.

The bank holding company posted revenue of $169.6 million in the period. Its adjusted revenue was $142.8 million, which also beat Street forecasts. Four analysts surveyed by Zacks expected $138.8 million.

For the year, the company reported profit of $138.4 million, or $1.03 per share. Revenue was reported as $547.8 million.

Hope Bancorp shares have climbed slightly since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $18.33, a decrease of 13 percent 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