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

Hope Bancorp (NASDAQ:HOPE) issued its quarterly earnings data on Monday. The financial services provider reported $0.21 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.05), Briefing.com reports. The business had revenue of $123.30 million for the quarter, compared to analysts’ expectations of $130.42 million. Hope Bancorp had a return on equity of 7.03% and a net margin of 12.19%. The firm’s revenue for the quarter was down 14.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.33 EPS.

Hope Bancorp Price Performance

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

Hope Bancorp Dividend Announcement

The firm 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 is Wednesday, May 8th. This represents a $0.56 dividend on an annualized basis and a yield of 5.64%. Hope Bancorp’s dividend payout ratio is presently 50.00%.

Analysts Set New Price Targets

HOPE has been the subject of several research reports. StockNews.com upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, January 6th. DA Davidson upgraded Hope Bancorp from a “neutral” rating to a “buy” rating and set a $12.50 price objective on the stock in a research report on Tuesday. Finally, Wedbush decreased their target price on shares of Hope Bancorp from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Hope Bancorp has an average rating of “Hold” and a consensus price target of $11.50.

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.