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

Hope Bancorp (NASDAQ:HOPE - Get Free Report) released 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 $0.26 by ($0.05), Briefing.com reports. Hope Bancorp had a net margin of 12.19% and a return on equity of 7.03%. The business had revenue of $123.30 million for the quarter, compared to the consensus estimate of $130.42 million. During the same period in the previous year, the business posted $0.33 EPS. Hope Bancorp's revenue was down 14.9% on a year-over-year basis.

Hope Bancorp Stock Up 1.0 %

NASDAQ:HOPE traded up $0.09 during trading hours on Tuesday, reaching $10.02. The company had a trading volume of 1,532,218 shares, compared to its average volume of 677,779. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.90. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 8.95 and a beta of 1.13. The business's 50-day simple moving average is $10.92 and its two-hundred day simple moving average is $10.75. Hope Bancorp has a twelve month low of $7.42 and a twelve month high of $12.51.

Hope Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 5.59%. The ex-dividend date of this dividend is Wednesday, May 8th. Hope Bancorp's payout ratio is 50.00%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. StockNews.com upgraded shares of Hope Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, January 6th. DA Davidson upgraded shares of Hope Bancorp from a "neutral" rating to a "buy" rating and set a $12.50 price objective for the company in a research report on Tuesday. Finally, Wedbush decreased their price objective on shares of Hope Bancorp from $12.00 to $11.00 and set a "neutral" rating for the company in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Hope Bancorp presently has a consensus rating of "Hold" and a consensus price target of $11.50.

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.