Hope Bancorp (NASDAQ:HOPE) Issues Earnings Results

Hope Bancorp (NASDAQ:HOPE) released its quarterly earnings results on Monday. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.05), Briefing.com reports. Hope Bancorp had a return on equity of 6.43% and a net margin of 10.80%. The business had revenue of $123.30 million during the quarter, compared to the consensus estimate of $130.42 million. During the same period in the previous year, the company posted $0.33 EPS. The company’s revenue for the quarter was down 14.9% compared to the same quarter last year.

Hope Bancorp Price Performance

Shares of NASDAQ HOPE opened at $10.02 on Wednesday. Hope Bancorp has a twelve month low of $7.42 and a twelve month high of $12.51. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 0.43. The firm has a 50-day moving average of $10.92 and a two-hundred day moving average of $10.75. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 10.02 and a beta of 1.13.

Hope Bancorp Announces Dividend

The firm 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 $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 5.59%. The ex-dividend date of this dividend is Wednesday, May 8th. Hope Bancorp’s dividend payout ratio (DPR) is presently 56.00%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in 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. Wedbush reduced their price target 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. Finally, DA Davidson upgraded shares of Hope Bancorp from a “neutral” rating to a “buy” rating and set a $12.50 price objective on the stock in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $11.50.

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.