Hope Bancorp (NASDAQ:HOPE) Announces Earnings Results

Hope Bancorp (NASDAQ:HOPE - Get Free Report) announced its quarterly earnings data on Tuesday. The financial services provider reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.01, Zacks reports. The company had revenue of $217.17 million for the quarter, compared to analyst estimates of $114.97 million. Hope Bancorp had a return on equity of 4.84% and a net margin of 9.95%. During the same quarter last year, the firm earned $0.23 EPS.

Hope Bancorp Price Performance

Shares of HOPE traded down $0.18 during trading hours on Friday, hitting $10.06. The stock had a trading volume of 1,482,983 shares, compared to its average volume of 823,209. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 12.27 and a beta of 0.96. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.96. The company's fifty day moving average is $10.19 and its two-hundred day moving average is $11.77. Hope Bancorp has a 52 week low of $8.83 and a 52 week high of $14.54.

Hope Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, May 2nd will be paid a $0.14 dividend. The ex-dividend date is Friday, May 2nd. This represents a $0.56 annualized dividend and a dividend yield of 5.57%. Hope Bancorp's dividend payout ratio is presently 71.79%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on HOPE shares. DA Davidson decreased their price target on shares of Hope Bancorp from $15.50 to $14.50 and set a "buy" rating on the stock in a research note on Tuesday, January 28th. StockNews.com downgraded shares of Hope Bancorp from a "hold" rating to a "sell" rating in a report on Thursday. Finally, Piper Sandler lowered their target price on shares of Hope Bancorp from $13.00 to $12.00 and set a "neutral" rating on the stock in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $12.88.

Insider Activity at Hope Bancorp

In related news, EVP Thomas Stenger sold 4,185 shares of the firm's stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $11.83, for a total transaction of $49,508.55. Following the completion of the sale, the executive vice president now directly owns 19,267 shares of the company's stock, valued at $227,928.61. This trade represents a 17.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.16% of the stock is currently owned by insiders.

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.