Hope Bancorp (NASDAQ:HOPE) Announces Earnings Results

Hope Bancorp (NASDAQ:HOPE) announced its quarterly earnings results on Monday. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. During the same period in the previous year, the company earned $0.25 EPS.

Hope Bancorp Stock Up 0.5 %

Shares of NASDAQ HOPE opened at $12.53 on Tuesday. The business has a 50-day moving average price of $12.57 and a 200 day moving average price of $11.58. The stock has a market cap of $1.51 billion, a PE ratio of 14.08 and a beta of 1.13. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.13. Hope Bancorp has a 52-week low of $8.51 and a 52-week high of $13.59.

Hope Bancorp Dividend Announcement

The company also recently announced 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. This represents a $0.56 annualized dividend and a dividend yield of 4.47%. The ex-dividend date of this dividend is Thursday, November 7th. Hope Bancorp’s payout ratio is currently 62.92%.

Wall Street Analyst Weigh In

HOPE has been the subject of several recent analyst reports. StockNews.com upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, October 14th. Keefe, Bruyette & Woods raised their price objective on shares of Hope Bancorp from $12.00 to $14.00 and gave the stock a “market perform” rating in a report on Tuesday, July 30th.

Insiders Place Their Bets

In other news, Director David P. Malone sold 10,428 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $12.71, for a total value 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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director David P. Malone sold 10,428 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $12.71, for a total value 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 represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jinho Doo sold 10,703 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $12.40, for a total value of $132,717.20. Following the transaction, the director now directly owns 21,538 shares in the company, valued at approximately $267,071.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,831 shares of company stock valued at $323,657 over the last quarter. Company insiders own 5.29% of the company’s stock.

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.