Hope Bancorp (NASDAQ:HOPE) Releases Earnings Results, Misses Estimates By $0.05 EPS

Hope Bancorp (NASDAQ:HOPE) announced its quarterly earnings results on Monday. The financial services provider reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.05), Briefing.com reports. The business had revenue of $123.30 million during the quarter, compared to the consensus estimate of $130.42 million. Hope Bancorp had a return on equity of 7.03% and a net margin of 12.19%. The company’s revenue for the quarter was down 14.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.33 EPS.

Hope Bancorp Stock Performance

Hope Bancorp stock opened at $9.93 on Tuesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market capitalization of $1.20 billion, a P/E ratio of 8.86 and a beta of 1.13. Hope Bancorp has a 1-year low of $7.42 and a 1-year high of $12.51. The company’s 50-day moving average is $10.92 and its 200 day moving average is $10.75.

Hope Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, May 9th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $0.56 annualized dividend and a yield of 5.64%. Hope Bancorp’s payout ratio is 50.00%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. DA Davidson upgraded shares of Hope Bancorp from a “neutral” rating to a “buy” rating and set a $12.50 target price on the stock in a report on Tuesday. StockNews.com raised Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, January 6th. Finally, Wedbush dropped their target price on Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating for the company in a report on Wednesday, January 31st. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Hope Bancorp currently has an average rating of “Hold” and an average price target of $11.83.

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.