Research Analysts Issue Forecasts for Hope Bancorp, Inc.’s FY2024 Earnings (NASDAQ:HOPE)

Hope Bancorp, Inc. (NASDAQ:HOPE) – Research analysts at DA Davidson issued their FY2024 earnings per share (EPS) estimates for shares of Hope Bancorp in a research report issued to clients and investors on Wednesday, May 1st. DA Davidson analyst G. Tenner forecasts that the financial services provider will post earnings of $0.87 per share for the year. DA Davidson currently has a “Buy” rating and a $12.50 price target on the stock. The consensus estimate for Hope Bancorp’s current full-year earnings is $0.98 per share. DA Davidson also issued estimates for Hope Bancorp’s FY2025 earnings at $1.35 EPS.

Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings data on Monday, April 29th. The financial services provider reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.05). The company had revenue of $123.30 million during the quarter, compared to the consensus estimate of $130.42 million. Hope Bancorp had a net margin of 10.80% and a return on equity of 6.43%. Hope Bancorp’s revenue for the quarter was down 14.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.33 earnings per share.

Several other equities analysts also recently commented on the company. StockNews.com raised Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, January 6th. Wedbush lowered their price objective on Hope Bancorp from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 30th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Hope Bancorp from $13.00 to $12.00 and set a “market perform” rating for the company in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $11.83.

Hope Bancorp Stock Up 2.2 %

Hope Bancorp stock opened at $10.84 on Friday. The company’s 50-day moving average price is $10.87 and its two-hundred day moving average price is $10.77. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 0.43. The stock has a market cap of $1.31 billion, a P/E ratio of 10.84 and a beta of 1.15. Hope Bancorp has a twelve month low of $7.42 and a twelve month high of $12.51.

Hope Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $0.56 dividend on an annualized basis and a yield of 5.17%. Hope Bancorp’s dividend payout ratio (DPR) is presently 56.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC grew its stake in Hope Bancorp by 39.1% during the first quarter. CWM LLC now owns 8,939 shares of the financial services provider’s stock worth $103,000 after buying an additional 2,513 shares in the last quarter. Drive Wealth Management LLC acquired a new stake in shares of Hope Bancorp during the 1st quarter worth approximately $116,000. QRG Capital Management Inc. bought a new position in Hope Bancorp in the third quarter valued at approximately $132,000. Vanguard Personalized Indexing Management LLC raised its position in Hope Bancorp by 8.8% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 12,814 shares of the financial services provider’s stock valued at $155,000 after purchasing an additional 1,033 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Hope Bancorp by 46.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 15,929 shares of the financial services provider’s stock worth $192,000 after purchasing an additional 5,034 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

Hope Bancorp Company Profile

Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides retail and commercial banking services for businesses and individuals in the United States. It accepts personal and business checking, money market, savings, time deposit, and individual retirement accounts. The company also offers loans comprising commercial and industrial loans to businesses for various purposes, such as working capital, purchasing inventory, debt refinancing, business acquisitions, international trade finance, other business-related financing, and loans syndication services; commercial real estate loans; residential mortgage loans; small business administration loans; and consumer loans, such as single-family mortgage, home equity, automobile, credit card, and personal loans.