🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Bank Stocks Fluctuate As Hope Bancorp Earnings Drop And Fanhua, Asia Insurance Form Strategic Partnership

Published 24/10/2023, 05:34
© Reuters.
BOH
-
XLF
-
NWJCX
-

Financial sector stocks showed mixed performance in premarket trading today, with Financial Select Sector SPDR Fund (NYSEARCA: XLF) and Direxion Daily Financial Bull 3X Shares (NYSEARCA: FAS) experiencing a downturn by 0.4% and 1.2% respectively. On the other hand, Direxion Daily Financial Bear 3X Shares (NYSEARCA: FAZ) surged by 1.3%.

Hope Bancorp revealed a significant drop in Q3 earnings today, falling to $0.25 per share from $0.45 in the same quarter last year. The bank's revenue also decreased from $166.5 million to $143.7 million.

The Bank of Hawaii also announced its Q3 earnings today, reaching $1.17 per share, surpassing the expected $0.97. Despite beating estimates, this figure is still lower than last year's Q3 earnings of $1.28 per share.

In other news, Fanhua and Asia Insurance are strengthening their business relationship through the establishment of two joint ventures. This significant development marks a new chapter in their strategic partnership and could potentially reshape their business operations in the future.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.