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

Hope Bancorp (NASDAQ:HOPE) issued its quarterly earnings results on Monday. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $246.92 million for the quarter, compared to the consensus estimate of $121.67 million. During the same quarter in the prior year, the firm earned $0.25 earnings per share.

Hope Bancorp Price Performance

Hope Bancorp stock opened at $12.47 on Wednesday. The business’s fifty day moving average is $12.58 and its two-hundred day moving average is $11.60. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.95 and a current ratio of 0.96. Hope Bancorp has a 52 week low of $8.51 and a 52 week high of $13.59. The firm has a market cap of $1.51 billion, a P/E ratio of 14.01 and a beta of 1.13.

Hope Bancorp Dividend Announcement

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

Insider Activity at Hope Bancorp

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

Analyst Upgrades and Downgrades

HOPE has been the subject of several recent analyst reports. Keefe, Bruyette & Woods increased their price objective on Hope Bancorp from $12.00 to $14.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 30th. StockNews.com lowered shares of Hope Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday.

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.