Hope Bancorp (NASDAQ:HOPE – Get Free Report) announced its earnings results on Monday. The financial services provider reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.05), Briefing.com reports. The company had revenue of $123.30 million during the quarter, compared to analyst estimates of $130.42 million. Hope Bancorp had a return on equity of 6.43% and a net margin of 10.80%. Hope Bancorp’s revenue for the quarter was down 14.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.33 earnings per share.
Hope Bancorp Price Performance
Shares of NASDAQ HOPE traded up $0.15 during midday trading on Wednesday, reaching $10.17. The company’s stock had a trading volume of 147,382 shares, compared to its average volume of 671,165. Hope Bancorp has a fifty-two week low of $7.42 and a fifty-two week high of $12.51. The company has a market cap of $1.23 billion, a P/E ratio of 10.17 and a beta of 1.13. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.05 and a current ratio of 1.00. The business’s 50 day moving average price is $10.90 and its two-hundred day moving average price is $10.75.
Hope Bancorp Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th will be given a dividend of $0.14 per share. The ex-dividend date is Wednesday, May 8th. This represents a $0.56 annualized dividend and a yield of 5.51%. Hope Bancorp’s dividend payout ratio (DPR) is presently 56.00%.
Analyst Upgrades and Downgrades
View Our Latest Stock Analysis on Hope Bancorp
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.
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