Hope Bancorp (NASDAQ:HOPE) Posts Earnings Results, Beats Estimates By $0.03 EPS

Hope Bancorp (NASDAQ:HOPE) released its quarterly earnings results on Monday. The financial services provider reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03, Zacks reports. Hope Bancorp had a net margin of 9.81% and a return on equity of 5.52%.

Hope Bancorp Stock Performance

Shares of HOPE stock opened at $11.71 on Wednesday. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 13.94 and a beta of 1.16. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.96 and a current ratio of 0.96. Hope Bancorp has a 52 week low of $9.80 and a 52 week high of $14.53. The firm’s 50-day simple moving average is $12.67 and its two-hundred day simple moving average is $12.65.

Hope Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 4.78%. The ex-dividend date is Thursday, February 6th. Hope Bancorp’s dividend payout ratio is 66.67%.

Insiders Place Their Bets

In other news, Director Steven Koh sold 96,620 shares of Hope Bancorp stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $13.33, for a total value of $1,287,944.60. Following the completion of the transaction, the director now owns 3,167,023 shares in the company, valued at $42,216,416.59. This trade represents a 2.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Angelee Harris sold 3,000 shares of Hope Bancorp stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $14.16, for a total transaction of $42,480.00. Following the completion of the transaction, the executive vice president now owns 19,795 shares of the company’s stock, valued at $280,297.20. The trade was a 13.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 129,224 shares of company stock valued at $1,737,873. Company insiders own 5.29% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on HOPE shares. DA Davidson dropped 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 report on Tuesday. StockNews.com raised shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, December 6th.

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.