Hope Bancorp (NASDAQ:HOPE) Announces Earnings Results, Beats Estimates By $0.02 EPS

Hope Bancorp (NASDAQ:HOPE) announced its quarterly earnings data on Tuesday. The financial services provider reported $0.19 EPS for the quarter, beating the consensus estimate of $0.17 by $0.02, Zacks reports. Hope Bancorp had a net margin of 9.95% and a return on equity of 4.84%.

Hope Bancorp Trading Up 0.4 %

NASDAQ:HOPE opened at $9.56 on Tuesday. Hope Bancorp has a fifty-two week low of $8.83 and a fifty-two week high of $14.54. The stock’s 50-day moving average is $10.30 and its two-hundred day moving average is $11.83. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.96. The stock has a market cap of $1.16 billion, a PE ratio of 11.66 and a beta of 0.96.

Hope Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 5.86%. The ex-dividend date of this dividend was Thursday, February 6th. Hope Bancorp’s dividend payout ratio is 68.29%.

Insider Transactions at Hope Bancorp

In other Hope Bancorp news, EVP Thomas Stenger sold 4,185 shares of the stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $11.83, for a total value of $49,508.55. Following the completion of the sale, the executive vice president now directly owns 19,267 shares of the company’s stock, valued at $227,928.61. This represents a 17.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.29% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Piper Sandler dropped their price target on Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. DA Davidson decreased their target price on Hope Bancorp from $15.50 to $14.50 and set a “buy” rating for the company in a report on Tuesday, January 28th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Hope Bancorp currently has a consensus rating of “Hold” and a consensus target price of $12.88.

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.