Hope Bancorp (NASDAQ:HOPE) Posts Earnings Results, Beats Expectations By $0.05 EPS

Hope Bancorp (NASDAQ:HOPE) posted its earnings results on Monday. The financial services provider reported $0.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.05, MarketWatch Earnings reports. Hope Bancorp had a net margin of 20.87% and a return on equity of 6.33%. The company had revenue of $137.65 million for the quarter, compared to analyst estimates of $135.16 million. During the same quarter in the prior year, the business posted $0.22 EPS. The firm’s revenue was up 13.7% compared to the same quarter last year.

HOPE stock traded up $0.48 during trading on Wednesday, reaching $13.38. The stock had a trading volume of 1,209,073 shares, compared to its average volume of 802,405. Hope Bancorp has a one year low of $7.03 and a one year high of $16.61. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a 50 day moving average price of $14.59. The stock has a market cap of $1.65 billion, a P/E ratio of 12.74 and a beta of 1.65.

The company also recently disclosed a dividend, which will be paid on Friday, August 13th. Shareholders of record on Friday, July 30th will be given a $0.14 dividend. This represents a yield of 4.34%. The ex-dividend date is Thursday, July 29th. Hope Bancorp’s payout ratio is 62.22%.

Separately, Zacks Investment Research downgraded shares of Hope Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 6th.

About Hope Bancorp

Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides banking services for small and medium-sized businesses, and individuals in the United States. The company accepts personal and business checking, money market, savings, time deposit, and individual retirement accounts.

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Earnings History for Hope Bancorp (NASDAQ:HOPE)

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