FY2024 Earnings Forecast for Hope Bancorp Issued By Wedbush

Hope Bancorp, Inc. (NASDAQ:HOPE) – Investment analysts at Wedbush dropped their FY2024 EPS estimates for Hope Bancorp in a report released on Monday, October 28th. Wedbush analyst D. Chiaverini now expects that the financial services provider will earn $0.87 per share for the year, down from their prior estimate of $0.95. The consensus estimate for Hope Bancorp’s current full-year earnings is $0.87 per share. Wedbush also issued estimates for Hope Bancorp’s Q4 2024 earnings at $0.21 EPS, Q1 2025 earnings at $0.26 EPS, Q2 2025 earnings at $0.26 EPS, Q3 2025 earnings at $0.28 EPS, Q4 2025 earnings at $0.29 EPS and FY2026 earnings at $1.25 EPS.

A number of other equities analysts have also recently commented on the company. Keefe, Bruyette & Woods lifted their target price on Hope Bancorp from $12.00 to $14.00 and gave the stock a “market perform” rating in a report on Tuesday, July 30th. StockNews.com cut Hope Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday.

Hope Bancorp Trading Down 0.5 %

Shares of HOPE opened at $12.47 on Wednesday. Hope Bancorp has a fifty-two week low of $8.51 and a fifty-two week high of $13.59. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.95 and a current ratio of 0.96. The company’s fifty day moving average is $12.58 and its 200 day moving average is $11.60. The stock has a market capitalization of $1.51 billion, a PE ratio of 14.01 and a beta of 1.13.

Hope Bancorp (NASDAQ:HOPE) last released its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.21 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.01). Hope Bancorp had a net margin of 10.02% and a return on equity of 5.85%. The company had revenue of $246.92 million for the quarter, compared to the consensus estimate of $121.67 million. During the same period last year, the company earned $0.25 EPS.

Institutional Trading of Hope Bancorp

Hedge funds have recently modified their holdings of the company. State Board of Administration of Florida Retirement System raised its stake in shares of Hope Bancorp by 117.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 158,626 shares of the financial services provider’s stock worth $1,826,000 after acquiring an additional 85,709 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of Hope Bancorp during the first quarter worth $915,000. Assenagon Asset Management S.A. lifted its holdings in shares of Hope Bancorp by 232.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,333,798 shares of the financial services provider’s stock valued at $25,065,000 after purchasing an additional 1,632,384 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Hope Bancorp by 17.4% in the 2nd quarter. American Century Companies Inc. now owns 2,000,739 shares of the financial services provider’s stock worth $21,488,000 after purchasing an additional 296,469 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in Hope Bancorp by 18.9% during the 1st quarter. BNP Paribas Financial Markets now owns 202,012 shares of the financial services provider’s stock worth $2,325,000 after buying an additional 32,056 shares during the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Hope Bancorp

In related news, Director Jinho Doo sold 10,703 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $12.40, for a total value of $132,717.20. Following the transaction, the director now owns 21,538 shares of the company’s stock, valued at $267,071.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Hope Bancorp news, Director David P. Malone sold 10,428 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $12.71, for a total transaction of $132,539.88. Following the sale, the director now owns 109,991 shares of the company’s stock, valued at approximately $1,397,985.61. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jinho Doo sold 10,703 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $12.40, for a total value of $132,717.20. Following the sale, the director now owns 21,538 shares of the company’s stock, valued at $267,071.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,831 shares of company stock valued at $323,657. 5.29% of the stock is currently owned by company insiders.

Hope Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be paid a $0.14 dividend. The ex-dividend date is Thursday, November 7th. This represents a $0.56 dividend on an annualized basis and a yield of 4.49%. Hope Bancorp’s dividend payout ratio is currently 62.92%.

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.