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

Hope Bancorp (NASDAQ:HOPE) announced its quarterly earnings data 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 return on equity of 5.85% and a net margin of 10.02%. The firm had revenue of $246.92 million during the quarter, compared to the consensus estimate of $121.67 million. During the same period last year, the company earned $0.25 EPS.

Hope Bancorp Stock Up 0.4 %

Shares of NASDAQ:HOPE traded up $0.05 on Wednesday, reaching $12.52. The company had a trading volume of 673,402 shares, compared to its average volume of 723,352. Hope Bancorp has a 52-week low of $8.51 and a 52-week high of $13.59. The firm’s 50 day simple moving average is $12.58 and its 200-day simple moving average is $11.60. The firm has a market capitalization of $1.51 billion, a PE ratio of 14.07 and a beta of 1.13. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.13.

Hope Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.47%. Hope Bancorp’s dividend payout ratio is presently 62.92%.

Insider Activity

In other Hope Bancorp news, EVP Thomas Stenger sold 3,200 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was 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. 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 can be accessed through the SEC website. In related news, Director Jinho Doo sold 10,703 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $12.40, for a total value of $132,717.20. Following the transaction, the director now owns 21,538 shares in the company, valued at approximately $267,071.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thomas Stenger sold 3,200 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 25,952 shares of the company’s stock, valued at $321,804.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,831 shares of company stock worth $323,657. 5.29% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on HOPE shares. StockNews.com cut Hope Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday. 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.

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.