Hope Bancorp (NASDAQ:HOPE) Issues Quarterly Earnings Results, Misses Estimates 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 company had revenue of $123.30 million during the quarter, compared to the consensus estimate of $130.42 million. Hope Bancorp had a net margin of 10.80% and a return on equity of 6.43%. Hope Bancorp’s revenue for the quarter was down 14.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.33 EPS.

Hope Bancorp Price Performance

Shares of NASDAQ HOPE opened at $10.25 on Thursday. Hope Bancorp has a twelve month low of $7.42 and a twelve month high of $12.51. The firm has a fifty day simple moving average of $10.88 and a 200 day simple moving average of $10.75. The company has a market capitalization of $1.24 billion, a PE ratio of 10.25 and a beta of 1.15. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 0.43.

Hope Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, May 9th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 5.46%. The ex-dividend date of this dividend is Wednesday, May 8th. Hope Bancorp’s dividend payout ratio is presently 56.00%.

Analyst Ratings Changes

HOPE has been the subject of several analyst reports. Wedbush dropped their price target on shares of Hope Bancorp from $12.00 to $11.00 and set a “neutral” rating for the company in a research note on Tuesday. StockNews.com raised shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, January 6th. DA Davidson raised shares of Hope Bancorp from a “neutral” rating to a “buy” rating and set a $12.50 price target for the company in a research note on Tuesday. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Hope Bancorp from $13.00 to $12.00 and set a “market perform” rating for the company in a research note on Wednesday. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $11.83.

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.