Hope Bancorp (NASDAQ:HOPE – Get Free Report) issued its quarterly earnings results on Monday. The financial services provider reported $0.22 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.22, Briefing.com reports. Hope Bancorp had a net margin of 10.02% and a return on equity of 5.85%. The company had revenue of $116.90 million during the quarter, compared to analyst estimates of $121.27 million. During the same period in the prior year, the business posted $0.32 EPS. The business’s revenue for the quarter was down 20.9% compared to the same quarter last year.
Hope Bancorp Trading Down 0.1 %
NASDAQ:HOPE opened at $13.16 on Thursday. The stock’s 50-day moving average is $10.97 and its two-hundred day moving average is $10.98. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.96 and a quick ratio of 1.00. The stock has a market cap of $1.59 billion, a PE ratio of 13.16 and a beta of 1.15. Hope Bancorp has a fifty-two week low of $8.15 and a fifty-two week high of $13.59.
Hope Bancorp Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 4.26%. The ex-dividend date of this dividend is Thursday, August 8th. Hope Bancorp’s dividend payout ratio (DPR) is currently 56.00%.
Insider Buying and Selling
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on HOPE. DA Davidson upgraded Hope Bancorp from a “neutral” rating to a “buy” rating and set a $12.50 price objective for the company in a report on Tuesday, April 30th. Wedbush cut their target price on shares of Hope Bancorp from $12.00 to $11.00 and set a “neutral” rating for the company in a research note on Tuesday, April 30th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Hope Bancorp from $12.00 to $14.00 and gave the stock a “market perform” rating in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $12.50.
Get Our Latest Research Report on HOPE
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.
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