Hope Bancorp (NASDAQ:HOPE) Issues Quarterly Earnings Results

Hope Bancorp (NASDAQ:HOPE) posted its earnings results on Monday. The financial services provider reported $0.22 EPS for the quarter, hitting analysts’ consensus estimates of $0.22, Briefing.com reports. Hope Bancorp had a return on equity of 5.85% and a net margin of 10.02%. The business had revenue of $116.90 million during the quarter, compared to analyst estimates of $121.27 million. During the same quarter last year, the company earned $0.32 EPS. The company’s quarterly revenue was down 20.9% compared to the same quarter last year.

Hope Bancorp Trading Down 0.1 %

Shares of NASDAQ:HOPE opened at $13.16 on Thursday. The stock’s 50-day simple moving average is $10.97 and its two-hundred day simple moving average is $10.98. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of 13.16 and a beta of 1.15. Hope Bancorp has a 52-week low of $8.15 and a 52-week high of $13.59. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.00 and a current ratio of 0.96.

Hope Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date is Thursday, August 8th. Hope Bancorp’s dividend payout ratio is 56.00%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Keefe, Bruyette & Woods increased their price objective on Hope Bancorp from $12.00 to $14.00 and gave the company a “market perform” rating in a research report 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 report on Tuesday, April 30th. Finally, Wedbush decreased their price objective on shares of Hope Bancorp from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Tuesday, April 30th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Hope Bancorp presently has an average rating of “Hold” and an average price target of $12.50.

Insider Activity

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

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.