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

Hope Bancorp (NASDAQ:HOPE) will be announcing its earnings results before the market opens on Monday, October 28th. Analysts expect the company to announce earnings of $0.22 per share for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

Hope Bancorp (NASDAQ:HOPE) last released its earnings results on Monday, July 29th. The financial services provider reported $0.22 EPS for the quarter, hitting the consensus estimate of $0.22. Hope Bancorp had a return on equity of 5.85% and a net margin of 10.02%. The business had revenue of $116.90 million for the quarter, compared to the consensus estimate of $121.27 million. During the same period in the previous year, the company posted $0.32 earnings per share. The company’s revenue for the quarter was down 20.9% 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 Price Performance

Shares of NASDAQ:HOPE opened at $12.47 on Friday. The business has a fifty day moving average price of $12.57 and a 200-day moving average price of $11.56. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.96 and a quick ratio of 0.95. The company has a market capitalization of $1.51 billion, a PE ratio of 14.01 and a beta of 1.13. Hope Bancorp has a 1-year low of $8.36 and a 1-year high of $13.59.

Hope Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were paid a dividend of $0.14 per share. The ex-dividend date was Thursday, August 8th. This represents a $0.56 dividend on an annualized basis and a yield of 4.49%. Hope Bancorp’s dividend payout ratio is currently 62.92%.

Insider Buying and Selling at Hope Bancorp

In other news, Director David P. Malone sold 10,428 shares of Hope Bancorp stock in a transaction that occurred on 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 in the company, valued at $1,397,985.61. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Hope Bancorp news, EVP Thomas Stenger sold 3,200 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $12.40, for a total transaction of $39,680.00. Following the completion of the sale, the executive vice president now directly owns 25,952 shares in the company, valued at approximately $321,804.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David P. Malone sold 10,428 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $12.71, for a total value of $132,539.88. Following the transaction, the director now directly owns 109,991 shares in the company, valued at $1,397,985.61. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,831 shares of company stock worth $323,657. Company insiders own 5.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods upped their target price on shares of Hope Bancorp from $12.00 to $14.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 30th. StockNews.com raised Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, October 14th.

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.