Hope Bancorp (NASDAQ:HOPE) Releases Earnings Results, Misses Expectations By $0.01 EPS

Hope Bancorp (NASDAQ:HOPE - Get Free Report) issued its quarterly earnings data on Monday. The financial services provider reported $0.21 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.01), Briefing.com reports. Hope Bancorp had a return on equity of 5.85% and a net margin of 10.02%. The company had revenue of $246.92 million during the quarter, compared to analysts' expectations of $121.67 million. During the same quarter last year, the business earned $0.25 earnings per share.

Hope Bancorp Stock Down 0.5 %

Shares of HOPE traded down $0.06 on Tuesday, hitting $12.47. 661,291 shares of the stock traded hands, compared to its average volume of 723,591. The company has a market capitalization of $1.51 billion, a PE ratio of 14.01 and a beta of 1.13. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.95 and a current ratio of 0.96. The business has a 50 day simple moving average of $12.58 and a 200 day simple moving average of $11.60. Hope Bancorp has a one year low of $8.51 and a one year high of $13.59.

Hope Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 4.49%. The ex-dividend date is Thursday, November 7th. Hope Bancorp's dividend payout ratio (DPR) is currently 62.92%.

Insider Activity at Hope Bancorp

In related news, Director David P. Malone sold 10,428 shares of the firm's stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $12.71, for a total transaction of $132,539.88. Following the completion of the sale, the director now owns 109,991 shares of the company's stock, valued at $1,397,985.61. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Hope Bancorp news, EVP Thomas Stenger sold 3,200 shares of Hope Bancorp stock in a transaction that occurred on 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 owns 25,952 shares of the company's stock, valued at approximately $321,804.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David P. Malone sold 10,428 shares of Hope Bancorp stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $12.71, for a total transaction of $132,539.88. Following the completion of the sale, the director now directly owns 109,991 shares of the company's stock, valued at approximately $1,397,985.61. This trade 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 90 days. Corporate insiders own 5.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on HOPE shares. StockNews.com raised shares of Hope Bancorp from a "sell" rating to a "hold" rating in a research note on Monday, October 14th. Keefe, Bruyette & Woods raised their target price on shares of Hope Bancorp from $12.00 to $14.00 and gave the company a "market perform" rating in a research note on Tuesday, July 30th.

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.