Hope Bancorp (NASDAQ:HOPE) Announces Earnings Results

Hope Bancorp (NASDAQ:HOPE) posted its quarterly earnings results on Monday. The financial services provider reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.05), Briefing.com reports. The company 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 revenue for the quarter was down 14.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.33 EPS.

Hope Bancorp Stock Performance

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

Hope Bancorp Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Wedbush cut their price target on shares of Hope Bancorp from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Tuesday. DA Davidson raised shares of 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. Finally, StockNews.com raised shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, January 6th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target 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.