Hope Bancorp (HOPE) Posts Earnings Results, Hits Expectations
Hope Bancorp (NASDAQ:HOPE) posted its quarterly earnings data on Tuesday. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.36, MarketWatch Earnings reports. Hope Bancorp had a net margin of 23.76% and a return on equity of 9.68%. The company had revenue of $136.60 million for the quarter, compared to the consensus estimate of $141.01 million. During the same period last year, the company earned $0.33 earnings per share. The firm’s revenue was down 2.1% compared to the same quarter last year.
Shares of HOPE opened at $15.65 on Wednesday. The firm has a market cap of $2.10 billion, a P/E ratio of 12.83, a PEG ratio of 1.10 and a beta of 1.37. Hope Bancorp has a 1-year low of $14.98 and a 1-year high of $19.86. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.03.
A number of analysts have recently issued reports on HOPE shares. Zacks Investment Research upgraded shares of Hope Bancorp from a “sell” rating to a “buy” rating and set a $19.00 price objective on the stock in a report on Wednesday, September 19th. ValuEngine upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, August 18th. Finally, Wedbush reiterated a “neutral” rating and issued a $18.00 price objective (down from $19.00) on shares of Hope Bancorp in a report on Monday, July 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $19.50.
About Hope Bancorp
Hope Bancorp, Inc is a holding company. Its products and services include certificate of deposit, online banking, bill payment, mobile banking, credits card and mortgage loans. The company was founded in February 2002 and is headquartered in Los Angeles, CA.
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