Hope Bancorp, Inc. to Post Q1 2023 Earnings of $0.37 Per Share, Wedbush Forecasts (NASDAQ:HOPE)

Hope Bancorp, Inc. (NASDAQ:HOPEGet Rating) – Wedbush reduced their Q1 2023 earnings per share (EPS) estimates for Hope Bancorp in a research note issued on Tuesday, January 24th. Wedbush analyst D. Chiaverini now expects that the financial services provider will earn $0.37 per share for the quarter, down from their previous estimate of $0.46. The consensus estimate for Hope Bancorp’s current full-year earnings is $1.77 per share. Wedbush also issued estimates for Hope Bancorp’s Q2 2023 earnings at $0.37 EPS, Q3 2023 earnings at $0.39 EPS, Q4 2023 earnings at $0.42 EPS, Q1 2024 earnings at $0.38 EPS, Q2 2024 earnings at $0.42 EPS, Q3 2024 earnings at $0.44 EPS and Q4 2024 earnings at $0.46 EPS.

Hope Bancorp (NASDAQ:HOPEGet Rating) last released its quarterly earnings results on Tuesday, January 24th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.02). Hope Bancorp had a return on equity of 10.88% and a net margin of 28.44%. The business had revenue of $236.35 million during the quarter, compared to the consensus estimate of $168.70 million. During the same period in the previous year, the company posted $0.43 EPS.

Several other research analysts have also recently weighed in on the company. Piper Sandler decreased their target price on Hope Bancorp to $15.00 in a research note on Friday, September 30th. DA Davidson raised their target price on Hope Bancorp to $14.00 in a research note on Thursday, October 27th. Finally, StockNews.com initiated coverage on Hope Bancorp in a report on Wednesday, October 12th. They set a “hold” rating for the company.

Hope Bancorp Trading Down 4.8 %

Shares of HOPE stock opened at $12.42 on Wednesday. The stock has a 50-day simple moving average of $13.05 and a 200 day simple moving average of $13.73. Hope Bancorp has a fifty-two week low of $12.16 and a fifty-two week high of $17.68. The stock has a market capitalization of $1.48 billion, a P/E ratio of 6.86 and a beta of 1.21. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.71.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its position in Hope Bancorp by 0.6% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 137,695 shares of the financial services provider’s stock worth $1,906,000 after purchasing an additional 830 shares during the last quarter. Maryland State Retirement & Pension System increased its position in Hope Bancorp by 2.0% in the 2nd quarter. Maryland State Retirement & Pension System now owns 49,081 shares of the financial services provider’s stock worth $679,000 after purchasing an additional 958 shares during the last quarter. Ronald Blue Trust Inc. increased its position in Hope Bancorp by 56.1% in the 4th quarter. Ronald Blue Trust Inc. now owns 2,942 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 1,057 shares during the last quarter. Captrust Financial Advisors increased its holdings in shares of Hope Bancorp by 6.6% during the 2nd quarter. Captrust Financial Advisors now owns 18,129 shares of the financial services provider’s stock valued at $251,000 after acquiring an additional 1,127 shares during the last quarter. Finally, Inspire Investing LLC grew its holdings in Hope Bancorp by 7.6% in the 3rd quarter. Inspire Investing LLC now owns 16,395 shares of the financial services provider’s stock valued at $207,000 after buying an additional 1,152 shares during the last quarter. 84.30% of the stock is owned by institutional investors and hedge funds.

Hope Bancorp Company Profile

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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.

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Earnings History and Estimates for Hope Bancorp (NASDAQ:HOPE)

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