Hope Bancorp (NASDAQ:HOPE) Posts Quarterly Earnings Results

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

Hope Bancorp Stock Down 0.5 %

Shares of Hope Bancorp stock opened at $12.47 on Wednesday. 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 company has a market capitalization of $1.51 billion, a P/E ratio of 14.01 and a beta of 1.13. The business has a 50-day moving average of $12.58 and a two-hundred day moving average of $11.60. Hope Bancorp has a 1 year low of $8.51 and a 1 year high of $13.59.

Hope Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be paid a $0.14 dividend. The ex-dividend date is Thursday, November 7th. This represents a $0.56 dividend on an annualized basis and a yield of 4.49%. Hope Bancorp’s payout ratio is 62.92%.

Insider Buying and Selling at Hope Bancorp

In other news, EVP Thomas Stenger sold 3,200 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $12.40, for a total value of $39,680.00. Following the sale, the executive vice president now directly owns 25,952 shares in the company, valued at $321,804.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director David P. Malone sold 10,428 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $12.71, for a total value of $132,539.88. Following the completion of the transaction, the director now owns 109,991 shares in the company, valued at $1,397,985.61. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thomas Stenger sold 3,200 shares of Hope Bancorp stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $12.40, for a total value of $39,680.00. Following the completion of the sale, the executive vice president now directly owns 25,952 shares in the company, valued at approximately $321,804.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,831 shares of company stock valued at $323,657. 5.29% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on HOPE shares. Keefe, Bruyette & Woods increased their target price 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. StockNews.com downgraded shares of Hope Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday.

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.