Analysts predict that Hope Bancorp, Inc. (NASDAQ:HOPE) will announce $0.31 earnings per share for the current quarter, Zacks reports. Four analysts have made estimates for Hope Bancorp’s earnings. The highest EPS estimate is $0.32 and the lowest is $0.30. Hope Bancorp also reported earnings per share of $0.31 during the same quarter last year. The company is scheduled to report its next earnings report on Tuesday, January 23rd.
According to Zacks, analysts expect that Hope Bancorp will report full-year earnings of $1.20 per share for the current financial year, with EPS estimates ranging from $1.18 to $1.22. For the next fiscal year, analysts forecast that the firm will report earnings of $1.32 per share, with EPS estimates ranging from $1.25 to $1.36. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Hope Bancorp.
Hope Bancorp (NASDAQ:HOPE) last announced its earnings results on Tuesday, October 24th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. The firm had revenue of $139.51 million during the quarter, compared to analysts’ expectations of $137.93 million. Hope Bancorp had a return on equity of 8.74% and a net margin of 26.16%. During the same quarter in the prior year, the business earned $0.22 earnings per share.
HOPE has been the subject of a number of recent analyst reports. ValuEngine raised Hope Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, October 26th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $17.50 target price on shares of Hope Bancorp in a research report on Tuesday, October 3rd. Zacks Investment Research raised Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, October 30th. FIG Partners cut Hope Bancorp from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $20.00 to $17.00 in a research report on Friday, September 15th. Finally, DA Davidson reaffirmed a “buy” rating and set a $21.00 target price on shares of Hope Bancorp in a research report on Monday, September 18th. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $19.58.
In related news, EVP Jason K. Kim sold 3,669 shares of the company’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $18.25, for a total value of $66,959.25. Following the completion of the transaction, the executive vice president now directly owns 67,060 shares in the company, valued at $1,223,845. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Donald Byun sold 101,026 shares of the company’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $16.45, for a total value of $1,661,877.70. The disclosure for this sale can be found here. Insiders sold 162,174 shares of company stock valued at $2,808,891 over the last three months. 5.20% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Maltese Capital Management LLC raised its stake in shares of Hope Bancorp by 12.6% in the third quarter. Maltese Capital Management LLC now owns 152,000 shares of the financial services provider’s stock valued at $2,692,000 after purchasing an additional 17,000 shares in the last quarter. NWQ Investment Management Company LLC raised its stake in shares of Hope Bancorp by 11.0% in the third quarter. NWQ Investment Management Company LLC now owns 1,677,664 shares of the financial services provider’s stock valued at $29,711,000 after purchasing an additional 165,755 shares in the last quarter. Pinnacle Associates Ltd. acquired a new position in shares of Hope Bancorp in the third quarter valued at $192,000. Dimensional Fund Advisors LP raised its stake in shares of Hope Bancorp by 4.1% in the third quarter. Dimensional Fund Advisors LP now owns 7,801,510 shares of the financial services provider’s stock valued at $138,164,000 after purchasing an additional 303,779 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Hope Bancorp in the third quarter valued at $187,000. Institutional investors and hedge funds own 77.06% of the company’s stock.
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Shares of Hope Bancorp (NASDAQ HOPE) traded up $0.30 during trading on Tuesday, reaching $17.33. The company’s stock had a trading volume of 767,800 shares, compared to its average volume of 541,705. The company has a market capitalization of $2,307.54, a PE ratio of 13.96, a P/E/G ratio of 1.42 and a beta of 1.40. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.58. Hope Bancorp has a 52-week low of $15.10 and a 52-week high of $22.99.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Tuesday, October 31st will be given a $0.13 dividend. The ex-dividend date of this dividend is Monday, October 30th. This represents a $0.52 annualized dividend and a dividend yield of 3.00%. Hope Bancorp’s dividend payout ratio is 43.33%.
Hope Bancorp Company Profile
Hope Bancorp, Inc, formerly BBCN Bancorp, Inc, is the holding company of Bank of Hope. Bank of Hope is the regional Korean-American bank in the United States. Bank of Hope operates approximately 85 full-service branches in California, Washington, Texas, Illinois, New York, New Jersey, Virginia, Georgia and Alabama.
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