Hope Bancorp, Inc. (NASDAQ:HOPE – Get Rating) shares hit a new 52-week low during mid-day trading on Tuesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $12.17 and last traded at $12.43, with a volume of 67404 shares traded. The stock had previously closed at $13.05.
The financial services provider reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.02). The company had revenue of $236.35 million during the quarter, compared to analyst estimates of $168.70 million. Hope Bancorp had a net margin of 31.65% and a return on equity of 10.76%. During the same period in the previous year, the company posted $0.43 EPS.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on HOPE shares. StockNews.com initiated coverage on Hope Bancorp in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Piper Sandler decreased their target price on Hope Bancorp to $15.00 in a research note on Friday, September 30th. Finally, DA Davidson raised their target price on Hope Bancorp to $14.00 in a research note on Thursday, October 27th.
Institutional Investors Weigh In On Hope Bancorp
Hope Bancorp Trading Down 4.8 %
The company has a debt-to-equity ratio of 0.71, a current ratio of 1.02 and a quick ratio of 1.01. The firm has a fifty day simple moving average of $13.05 and a 200-day simple moving average of $13.73. The firm has a market cap of $1.48 billion, a P/E ratio of 6.86 and a beta of 1.21.
About Hope Bancorp
Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides banking services for small and medium-sized businesses, and individuals in the United States. The company accepts personal and business checking, money market, savings, time deposit, and individual retirement accounts.
- Get a free copy of the StockNews.com research report on Hope Bancorp (HOPE)
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