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

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

Hope Bancorp Stock Down 9.4 %

Shares of HOPE opened at $9.93 on Tuesday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.90. Hope Bancorp has a 52 week low of $7.42 and a 52 week high of $12.51. The stock’s 50-day moving average price is $10.92 and its 200-day moving average price is $10.75. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 8.86 and a beta of 1.13.

Hope Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th will be issued a $0.14 dividend. The ex-dividend date is Wednesday, May 8th. This represents a $0.56 annualized dividend and a dividend yield of 5.64%. Hope Bancorp’s dividend payout ratio (DPR) is presently 50.00%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. 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 report on Tuesday. StockNews.com upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, January 6th. Finally, Wedbush lowered their price target on Hope Bancorp from $12.00 to $11.00 and set a “neutral” rating for the company in a research report on Tuesday. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently 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.