Hope Bancorp (NASDAQ:HOPE) Posts Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Hope Bancorp (NASDAQ:HOPE) announced its quarterly earnings data on Monday. The financial services provider reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01), Briefing.com reports. Hope Bancorp had a return on equity of 5.85% and a net margin of 10.02%. The firm had revenue of $246.92 million during the quarter, compared to analyst estimates of $121.67 million. During the same quarter in the previous year, the business earned $0.25 earnings per share.

Hope Bancorp Trading Down 0.6 %

NASDAQ HOPE traded down $0.07 during trading on Thursday, hitting $12.45. 83,265 shares of the company’s stock traded hands, compared to its average volume of 720,318. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.96 and a quick ratio of 0.95. The stock has a fifty day moving average of $12.58 and a two-hundred day moving average of $11.60. The firm has a market cap of $1.50 billion, a P/E ratio of 14.07 and a beta of 1.13. Hope Bancorp has a 12-month low of $8.51 and a 12-month high of $13.59.

Hope Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be given a dividend of $0.14 per share. The ex-dividend date is Thursday, November 7th. This represents a $0.56 annualized dividend and a yield of 4.50%. Hope Bancorp’s payout ratio is currently 62.92%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. StockNews.com lowered Hope Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday. Keefe, Bruyette & Woods boosted their price target on Hope Bancorp from $12.00 to $14.00 and gave the company a “market perform” rating in a research note on Tuesday, July 30th.

Insider Activity

In related news, Director Jinho Doo sold 10,703 shares of Hope Bancorp stock in a transaction on Monday, August 19th. The shares were sold at an average price of $12.40, for a total value of $132,717.20. Following the sale, the director now owns 21,538 shares in the company, valued at $267,071.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Hope Bancorp news, Director Jinho Doo sold 10,703 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $12.40, for a total transaction of $132,717.20. Following the completion of the sale, the director now directly owns 21,538 shares in the company, valued at approximately $267,071.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David P. Malone sold 10,428 shares of Hope Bancorp stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $12.71, for a total transaction of $132,539.88. Following the transaction, the director now owns 109,991 shares in the company, valued at $1,397,985.61. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,831 shares of company stock valued at $323,657. 5.29% of the stock is currently owned by company insiders.

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.