Hope Bancorp (HOPE) Scheduled to Post Quarterly Earnings on Monday

Hope Bancorp (NASDAQ:HOPE) is scheduled to announce its earnings results before the market opens on Monday, July 29th. Analysts expect the company to announce earnings of $0.22 per share for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

Hope Bancorp (NASDAQ:HOPE) last announced its quarterly earnings results on Monday, April 29th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.05). Hope Bancorp had a net margin of 10.80% and a return on equity of 6.43%. The company had revenue of $123.30 million during the quarter, compared to analysts’ expectations of $130.42 million. During the same quarter in the prior year, the business posted $0.33 earnings per share. The company’s revenue was down 14.9% compared to the same quarter last year. On average, analysts expect Hope Bancorp to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Hope Bancorp Trading Up 2.2 %

Shares of NASDAQ:HOPE opened at $13.52 on Friday. Hope Bancorp has a 12-month low of $8.15 and a 12-month high of $13.55. The business’s fifty day simple moving average is $10.88 and its 200-day simple moving average is $10.97. The company has a market capitalization of $1.63 billion, a PE ratio of 13.52 and a beta of 1.15. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.43.

Hope Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th were issued a $0.14 dividend. The ex-dividend date was Wednesday, May 8th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.14%. Hope Bancorp’s dividend payout ratio is presently 56.00%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on HOPE shares. Wedbush cut their price target on Hope Bancorp from $12.00 to $11.00 and set a “neutral” rating on the stock in a report on Tuesday, April 30th. Keefe, Bruyette & Woods lowered their price objective on Hope Bancorp from $13.00 to $12.00 and set a “market perform” rating for the company in a research report on Wednesday, May 1st. Finally, DA Davidson raised Hope Bancorp from a “neutral” rating to a “buy” rating and set a $12.50 price objective for the company in a research report on Tuesday, April 30th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $11.83.

Insider Transactions at Hope Bancorp

In other Hope Bancorp news, EVP Angelee Harris sold 4,200 shares of Hope Bancorp stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $10.68, for a total transaction of $44,856.00. Following the completion of the sale, the executive vice president now owns 18,527 shares of the company’s stock, valued at approximately $197,868.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Hope Bancorp news, EVP Angelee Harris sold 4,200 shares of Hope Bancorp stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $10.68, for a total transaction of $44,856.00. Following the completion of the sale, the executive vice president now owns 18,527 shares of the company’s stock, valued at approximately $197,868.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Steven Koh sold 3,857 shares of Hope Bancorp stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $9.94, for a total value of $38,338.58. Following the sale, the director now directly owns 3,294,186 shares of the company’s stock, valued at approximately $32,744,208.84. The disclosure for this sale can be found here. 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.