Hope Bancorp (NASDAQ:HOPE) Releases Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Hope Bancorp (NASDAQ:HOPE) released its 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 firm had revenue of $123.30 million for the quarter, compared to analysts’ expectations of $130.42 million. Hope Bancorp had a net margin of 12.19% and a return on equity of 7.03%. The firm’s quarterly revenue was down 14.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.33 EPS.

Hope Bancorp Trading Down 9.4 %

NASDAQ HOPE opened at $9.93 on Tuesday. Hope Bancorp has a one year low of $7.42 and a one year high of $12.51. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 8.86 and a beta of 1.13. The company’s 50-day simple moving average is $10.92 and its two-hundred day simple moving average is $10.75.

Hope Bancorp Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on HOPE. StockNews.com upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, January 6th. Wedbush cut their price objective on Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating for the company in a research report on Wednesday, January 31st. Finally, DA Davidson upgraded Hope Bancorp from a “neutral” rating to a “buy” rating and set a $12.50 target price on the stock in a research report 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. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $11.83.

About Hope Bancorp

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.