Hope Bancorp (HOPE) Scheduled to Post Quarterly Earnings on Monday

Hope Bancorp (NASDAQ:HOPE) is scheduled to be issuing its quarterly earnings data before the market opens on Monday, July 29th. Analysts expect the company to announce earnings of $0.22 per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

Hope Bancorp (NASDAQ:HOPE) last posted its earnings results on Monday, April 29th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.05). Hope Bancorp had a return on equity of 6.43% and a net margin of 10.80%. 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 company posted $0.33 earnings per share. Hope Bancorp’s revenue for the quarter was down 14.9% compared to the same quarter last year. On average, analysts expect Hope Bancorp to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Hope Bancorp Price Performance

NASDAQ HOPE opened at $13.52 on Friday. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of 13.52 and a beta of 1.15. Hope Bancorp has a 52-week low of $8.15 and a 52-week high of $13.55. The business has a 50 day simple moving average of $10.88 and a 200 day simple moving average of $10.97. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.00 and a current ratio of 1.00.

Hope Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th were paid a dividend of $0.14 per share. The ex-dividend date was Wednesday, May 8th. This represents a $0.56 annualized dividend and a dividend yield of 4.14%. Hope Bancorp’s dividend payout ratio is currently 56.00%.

Insider Activity at Hope Bancorp

In related news, EVP Angelee Harris sold 4,200 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $10.68, for a total value of $44,856.00. Following the completion of the transaction, the executive vice president now directly owns 18,527 shares of the company’s stock, valued at $197,868.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Hope Bancorp news, Director Steven Koh sold 3,857 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $9.94, for a total transaction of $38,338.58. Following the completion of the sale, the director now owns 3,294,186 shares of the company’s stock, valued at approximately $32,744,208.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Angelee Harris sold 4,200 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $10.68, for a total value of $44,856.00. Following the sale, the executive vice president now directly owns 18,527 shares of the company’s stock, valued at approximately $197,868.36. The disclosure for this sale can be found here. 5.29% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on HOPE shares. DA Davidson raised shares of Hope Bancorp from a “neutral” rating to a “buy” rating and set a $12.50 price target for the company in a research note on Tuesday, April 30th. Keefe, Bruyette & Woods decreased their price target on shares of Hope Bancorp from $13.00 to $12.00 and set a “market perform” rating for the company in a research note on Wednesday, May 1st. Finally, Wedbush decreased their price target on shares of Hope Bancorp from $12.00 to $11.00 and set a “neutral” rating for the company in a research note on Tuesday, April 30th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $11.83.

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.