Hope Bancorp, Inc. (NASDAQ:HOPE – Get 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:HOPE – Get 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.
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
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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