Hope Bancorp (NASDAQ:HOPE) Posts Earnings Results

Hope Bancorp (NASDAQ:HOPE) 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

In other news, Director Steven Koh sold 3,857 shares of the stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $9.94, for a total transaction of $38,338.58. Following the transaction, the director now owns 3,294,186 shares in the company, valued at approximately $32,744,208.84. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Angelee Harris sold 4,200 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $10.68, for a total transaction of $44,856.00. Following the sale, the executive vice president now directly owns 18,527 shares in the company, valued at $197,868.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Steven Koh sold 3,857 shares of Hope Bancorp stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $9.94, for a total value of $38,338.58. Following the sale, the director now directly owns 3,294,186 shares in the company, valued at $32,744,208.84. The disclosure for this sale can be found here. 5.29% of the stock is owned by corporate insiders.

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.

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.