Hope Bancorp (NASDAQ:HOPE) Issues Quarterly Earnings Results

Hope Bancorp (NASDAQ:HOPE) issued its earnings results on Monday. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.05), Briefing.com reports. Hope Bancorp had a return on equity of 7.03% and a net margin of 12.19%. The company had revenue of $123.30 million during the quarter, compared to analyst estimates of $130.42 million. During the same period last year, the business earned $0.33 earnings per share. The firm’s revenue was down 14.9% compared to the same quarter last year.

Hope Bancorp Price Performance

Shares of NASDAQ HOPE opened at $9.93 on Tuesday. The stock has a market cap of $1.20 billion, a P/E ratio of 8.86 and a beta of 1.13. Hope Bancorp has a twelve month low of $7.42 and a twelve month high of $12.51. The stock has a 50 day moving average of $10.92 and a two-hundred day moving average of $10.75. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.90.

Hope Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 5.64%. The ex-dividend date is Wednesday, May 8th. Hope Bancorp’s dividend payout ratio (DPR) is 50.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on HOPE shares. StockNews.com raised shares of Hope Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, January 6th. DA Davidson raised shares of Hope Bancorp from a “neutral” rating to a “buy” rating and set a $12.50 price target for the company in a research note on Tuesday. Finally, Wedbush cut their price target on shares of Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating for the company in a report on Wednesday, January 31st. 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, Hope Bancorp has an average rating of “Hold” and a consensus price target of $11.83.

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.