Hope Bancorp (NASDAQ:HOPE) issued its earnings results on Tuesday. The financial services provider reported $0.34 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.01), Briefing.com reports. Hope Bancorp had a net margin of 23.98% and a return on equity of 9.21%. The firm had revenue of $129.51 million during the quarter, compared to analyst estimates of $133.30 million. During the same quarter in the previous year, the business posted $0.36 EPS.
Shares of HOPE opened at $14.09 on Thursday. The stock’s 50-day moving average is $13.51. The firm has a market capitalization of $1.77 billion, a PE ratio of 9.78, a PEG ratio of 1.26 and a beta of 1.47. Hope Bancorp has a 12 month low of $11.37 and a 12 month high of $17.92. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.03 and a current ratio of 1.03.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 26th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date is Thursday, July 25th. Hope Bancorp’s dividend payout ratio is presently 38.89%.
A number of research analysts have commented on HOPE shares. ValuEngine upgraded Yirendai from a “strong sell” rating to a “sell” rating in a research note on Friday, May 3rd. Zacks Investment Research cut EXACT Sciences from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company. Hope Bancorp has a consensus rating of “Hold” and a consensus price target of $16.00.
Several institutional investors and hedge funds have recently modified their holdings of the business. Oregon Public Employees Retirement Fund lifted its stake in shares of Hope Bancorp by 1.7% during the second quarter. Oregon Public Employees Retirement Fund now owns 48,181 shares of the financial services provider’s stock worth $664,000 after purchasing an additional 800 shares in the last quarter. Crossmark Global Holdings Inc. lifted its stake in shares of Hope Bancorp by 7.4% during the second quarter. Crossmark Global Holdings Inc. now owns 12,427 shares of the financial services provider’s stock worth $171,000 after purchasing an additional 860 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Hope Bancorp by 58.5% during the fourth quarter. Public Employees Retirement System of Ohio now owns 2,402 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 887 shares during the last quarter. Piedmont Investment Advisors Inc. increased its position in shares of Hope Bancorp by 4.1% during the first quarter. Piedmont Investment Advisors Inc. now owns 30,350 shares of the financial services provider’s stock worth $397,000 after acquiring an additional 1,199 shares during the last quarter. Finally, Neuburgh Advisers LLC increased its position in shares of Hope Bancorp by 7.0% during the fourth quarter. Neuburgh Advisers LLC now owns 20,768 shares of the financial services provider’s stock worth $246,000 after acquiring an additional 1,364 shares during the last quarter. Institutional investors own 87.22% of the company’s stock.
About Hope Bancorp
Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides banking services to small and medium-sized businesses and individuals in the United States. The company offers personal and business checking, money market, savings, time deposit, and individual retirement accounts.
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