Hope Bancorp, Inc. Forecasted to Earn Q2 2024 Earnings of $0.23 Per Share (NASDAQ:HOPE)

Hope Bancorp, Inc. (NASDAQ:HOPE) – Equities research analysts at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for 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 per share of $0.23 for the quarter. DA Davidson has a “Buy” rating and a $12.50 price objective on the stock. The consensus estimate for Hope Bancorp’s current full-year earnings is $1.05 per share.

Hope Bancorp (NASDAQ:HOPE) last released its earnings results on Monday, April 29th. The financial services provider reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.05). Hope Bancorp had a return on equity of 6.43% and a net margin of 10.80%. The company had revenue of $123.30 million during the quarter, compared to analyst estimates of $130.42 million. During the same quarter last year, the business earned $0.33 earnings per share. The firm’s revenue for the quarter was down 14.9% on a year-over-year basis.

Other equities analysts also recently issued reports about the company. Wedbush reduced their target price on Hope Bancorp from $12.00 to $11.00 and set a “neutral” rating for the company in a research note on Tuesday. StockNews.com raised Hope Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, January 6th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Hope Bancorp from $13.00 to $12.00 and set a “market perform” rating on the stock in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $11.83.

Hope Bancorp Trading Up 2.3 %

NASDAQ HOPE opened at $10.25 on Thursday. The stock has a market cap of $1.24 billion, a P/E ratio of 10.25 and a beta of 1.15. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 0.43. Hope Bancorp has a 12-month low of $7.42 and a 12-month high of $12.51. The company has a fifty day simple moving average of $10.90 and a two-hundred day simple moving average of $10.75.

Hope Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th will be paid a $0.14 dividend. The ex-dividend date is Wednesday, May 8th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.46%. Hope Bancorp’s payout ratio is 56.00%.

Institutional Trading of Hope Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Personalized Indexing Management LLC boosted its position in Hope Bancorp by 8.8% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 12,814 shares of the financial services provider’s stock worth $155,000 after purchasing an additional 1,033 shares in the last quarter. Bridge City Capital LLC lifted its stake in shares of Hope Bancorp by 0.8% in the 1st quarter. Bridge City Capital LLC now owns 167,405 shares of the financial services provider’s stock valued at $1,927,000 after purchasing an additional 1,263 shares during the period. CWM LLC boosted its holdings 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. Swiss National Bank grew its position in Hope Bancorp by 1.2% during the third quarter. Swiss National Bank now owns 263,657 shares of the financial services provider’s stock valued at $2,333,000 after buying an additional 3,000 shares during the period. Finally, WBI Investments Inc. grew its position in Hope Bancorp by 10.4% during the third quarter. WBI Investments Inc. now owns 37,843 shares of the financial services provider’s stock valued at $335,000 after buying an additional 3,566 shares during the period. 84.00% 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 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.