Hope Bancorp (NASDAQ:HOPE) Releases Quarterly Earnings Results

Hope Bancorp (NASDAQ:HOPE) issued its quarterly earnings results on Monday. The financial services provider reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.05), Briefing.com reports. The firm had revenue of $123.30 million for the quarter, compared to analysts’ expectations of $130.42 million. Hope Bancorp had a return on equity of 6.43% and a net margin of 10.80%. The business’s quarterly revenue was down 14.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.33 earnings per share.

Hope Bancorp Trading Up 1.0 %

HOPE stock opened at $10.02 on Wednesday. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 0.43. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 10.02 and a beta of 1.13. The business has a fifty day simple moving average of $10.92 and a 200-day simple moving average of $10.75. Hope Bancorp has a 52 week low of $7.42 and a 52 week high of $12.51.

Hope Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th will be issued a $0.14 dividend. The ex-dividend date is Wednesday, May 8th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.59%. Hope Bancorp’s dividend payout ratio (DPR) is presently 56.00%.

Analysts Set New Price Targets

Several analysts have commented on HOPE shares. StockNews.com raised shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, January 6th. Wedbush dropped their target price on Hope Bancorp from $12.00 to $11.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, DA Davidson raised Hope Bancorp from a “neutral” rating to a “buy” rating and set a $12.50 price target on the stock in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $11.50.

Hope Bancorp Company Profile

Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides retail and commercial banking services for businesses and individuals in the United States. It accepts personal and business checking, money market, savings, time deposit, and individual retirement accounts. The company also offers loans comprising commercial and industrial loans to businesses for various purposes, such as working capital, purchasing inventory, debt refinancing, business acquisitions, international trade finance, other business-related financing, and loans syndication services; commercial real estate loans; residential mortgage loans; small business administration loans; and consumer loans, such as single-family mortgage, home equity, automobile, credit card, and personal loans.