Hope Bancorp (NASDAQ:HOPE) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Hope Bancorp (NASDAQ:HOPE) posted its quarterly earnings data on Monday. The financial services provider reported $0.20 earnings per share for the quarter, topping the consensus estimate 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 Down 4.4 %

Hope Bancorp stock opened at $11.71 on Wednesday. Hope Bancorp has a 1-year low of $9.80 and a 1-year high of $14.53. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of 13.94 and a beta of 1.16. The firm’s fifty day moving average price is $12.67 and its two-hundred day moving average price is $12.65. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.10.

Hope Bancorp Dividend Announcement

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

Insider Buying and Selling at Hope Bancorp

In other Hope Bancorp news, EVP Angelee Harris sold 3,000 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $14.16, for a total value of $42,480.00. Following the transaction, the executive vice president now directly owns 19,795 shares of the company’s stock, valued at approximately $280,297.20. This trade represents a 13.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven Koh sold 96,620 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $13.33, for a total transaction of $1,287,944.60. Following the completion of the transaction, the director now directly 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 129,224 shares of company stock valued at $1,737,873. Corporate insiders own 5.29% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on HOPE shares. DA Davidson reduced their price target on shares of Hope Bancorp from $15.50 to $14.50 and set a “buy” rating for the company in a report on Tuesday. StockNews.com upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a report on Friday, December 6th.

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.