DA Davidson Comments on Hope Bancorp Inc’s FY2018 Earnings (HOPE)

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Hope Bancorp Inc (NASDAQ:HOPE) – Analysts at DA Davidson cut their FY2018 EPS estimates for Hope Bancorp in a note issued to investors on Wednesday, October 17th. DA Davidson analyst G. Tenner now anticipates that the financial services provider will earn $1.46 per share for the year, down from their prior estimate of $1.47. DA Davidson currently has a “Neutral” rating and a $16.00 target price on the stock. DA Davidson also issued estimates for Hope Bancorp’s Q1 2019 earnings at $0.35 EPS, Q2 2019 earnings at $0.35 EPS, Q3 2019 earnings at $0.37 EPS, Q4 2019 earnings at $0.38 EPS and FY2019 earnings at $1.45 EPS.

A number of other equities research analysts also recently weighed in on the company. Zacks Investment Research downgraded Hope Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Sandler O’Neill set a $16.00 target price on Hope Bancorp and gave the stock a “hold” rating in a research report on Wednesday. ValuEngine downgraded Hope Bancorp from a “sell” rating to a “strong sell” rating in a research report on Wednesday. Finally, Wedbush restated a “neutral” rating and set a $18.00 target price (down previously from $19.00) on shares of Hope Bancorp in a research report on Monday, July 16th. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $18.25.

HOPE stock opened at $14.39 on Friday. The firm has a market cap of $1.93 billion, a PE ratio of 11.99, a PEG ratio of 1.01 and a beta of 1.37. Hope Bancorp has a twelve month low of $14.35 and a twelve month high of $19.86. The company has a quick ratio of 1.03, a current ratio of 0.96 and a debt-to-equity ratio of 0.15.

Hope Bancorp (NASDAQ:HOPE) last released its earnings results on Tuesday, October 16th. The financial services provider reported $0.36 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.36. The company had revenue of $136.60 million during the quarter, compared to the consensus estimate of $141.01 million. Hope Bancorp had a return on equity of 9.81% and a net margin of 23.43%. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.33 earnings per share.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HOPE. Hartford Investment Management Co. bought a new stake in Hope Bancorp in the second quarter valued at about $257,000. Summit Trail Advisors LLC increased its holdings in Hope Bancorp by 1,515.0% in the first quarter. Summit Trail Advisors LLC now owns 260,122 shares of the financial services provider’s stock valued at $260,000 after purchasing an additional 244,015 shares during the last quarter. Gator Capital Management LLC bought a new stake in Hope Bancorp in the second quarter valued at about $267,000. Xact Kapitalforvaltning AB increased its holdings in Hope Bancorp by 62.8% in the first quarter. Xact Kapitalforvaltning AB now owns 21,769 shares of the financial services provider’s stock valued at $396,000 after purchasing an additional 8,400 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in Hope Bancorp by 47.2% in the third quarter. Nisa Investment Advisors LLC now owns 26,654 shares of the financial services provider’s stock valued at $431,000 after purchasing an additional 8,550 shares during the last quarter. Institutional investors and hedge funds own 89.99% of the company’s stock.

In related news, Director Donald Byun sold 40,456 shares of the company’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $17.84, for a total value of $721,735.04. Following the completion of the sale, the director now owns 35,170 shares in the company, valued at $627,432.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David Lee Song sold 5,000 shares of the company’s stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $17.75, for a total value of $88,750.00. Following the completion of the sale, the executive vice president now owns 4,023 shares of the company’s stock, valued at approximately $71,408.25. The disclosure for this sale can be found here. Insiders own 5.06% of the company’s stock.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 9th. Stockholders of record on Friday, October 26th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, October 25th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.89%. Hope Bancorp’s payout ratio is currently 45.90%.

Hope Bancorp Company Profile

Hope Bancorp, Inc is a holding company. Its products and services include certificate of deposit, online banking, bill payment, mobile banking, credits card and mortgage loans. The company was founded in February 2002 and is headquartered in Los Angeles, CA.

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

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