Hope Bancorp Inc (NASDAQ:HOPE) – Equities researchers at FIG Partners raised their Q2 2019 earnings per share estimates for Hope Bancorp in a note issued to investors on Wednesday, April 17th. FIG Partners analyst T. Coffey now expects that the financial services provider will earn $0.43 per share for the quarter, up from their previous forecast of $0.36. FIG Partners also issued estimates for Hope Bancorp’s Q3 2019 earnings at $0.43 EPS, Q4 2019 earnings at $0.42 EPS, FY2019 earnings at $1.62 EPS, Q1 2020 earnings at $0.42 EPS, Q2 2020 earnings at $0.44 EPS, Q3 2020 earnings at $0.45 EPS and Q4 2020 earnings at $0.45 EPS.
Several other research analysts have also issued reports on the company. Zacks Investment Research raised Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, January 17th. ValuEngine lowered Hope Bancorp from a “sell” rating to a “strong sell” rating in a research report on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $16.50.
Shares of NASDAQ:HOPE opened at $13.56 on Thursday. The firm has a market cap of $1.72 billion, a P/E ratio of 9.42, a P/E/G ratio of 1.24 and a beta of 1.50. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.03. Hope Bancorp has a 12-month low of $11.37 and a 12-month high of $18.88.
Hope Bancorp (NASDAQ:HOPE) last announced its earnings results on Tuesday, April 16th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.34. The business had revenue of $131.03 million during the quarter, compared to analyst estimates of $132.40 million. Hope Bancorp had a return on equity of 9.92% and a net margin of 26.69%. During the same period last year, the company earned $0.38 EPS.
Hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio raised its position in shares of Hope Bancorp by 58.5% in the 4th quarter. Public Employees Retirement System of Ohio now owns 2,402 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 887 shares in the last quarter. Toronto Dominion Bank bought a new position in shares of Hope Bancorp in the 4th quarter worth about $30,000. Blueshift Asset Management LLC bought a new position in shares of Hope Bancorp in the 4th quarter worth about $132,000. Caxton Associates LP bought a new position in shares of Hope Bancorp in the 4th quarter worth about $150,000. Finally, 6 Meridian bought a new position in shares of Hope Bancorp in the 1st quarter worth about $197,000. 89.65% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP Jason K. Kim sold 4,750 shares of Hope Bancorp stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $14.71, for a total value of $69,872.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter Koh sold 6,000 shares of Hope Bancorp stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $14.92, for a total value of $89,520.00. Following the completion of the transaction, the executive vice president now directly owns 54,687 shares of the company’s stock, valued at $815,930.04. The disclosure for this sale can be found here. Company insiders own 5.06% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 26th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 4.13%. The ex-dividend date is Thursday, April 25th. Hope Bancorp’s dividend payout ratio (DPR) is presently 38.89%.
About Hope Bancorp
Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides banking services to small and medium-sized businesses and individuals in the United States. The company offers personal and business checking, money market, savings, time deposit, and individual retirement accounts.
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