Hope Bancorp, Inc. (NASDAQ:HOPE – Get Rating) – Investment analysts at Wedbush issued their FY2024 earnings per share estimates for Hope Bancorp in a research report issued to clients and investors on Wednesday, September 28th. Wedbush analyst D. Chiaverini forecasts that the financial services provider will earn $2.20 per share for the year. The consensus estimate for Hope Bancorp's current full-year earnings is $1.85 per share.
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Hope Bancorp (NASDAQ:HOPE – Get Rating) last released its quarterly earnings results on Tuesday, July 19th. The financial services provider reported $0.43 EPS for the quarter, topping analysts' consensus estimates of $0.41 by $0.02. Hope Bancorp had a net margin of 34.35% and a return on equity of 10.72%. The firm had revenue of $154.28 million during the quarter, compared to analysts' expectations of $150.08 million. During the same period in the previous year, the company earned $0.43 EPS. The firm's revenue for the quarter was up 12.1% compared to the same quarter last year.
A number of other analysts have also issued reports on the company. StockNews.com upgraded Hope Bancorp from a "hold" rating to a "buy" rating in a report on Thursday, June 23rd. Piper Sandler lowered their target price on Hope Bancorp to $15.00 in a report on Friday.
Hope Bancorp Price Performance
Shares of HOPE opened at $12.64 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $1.51 billion, a P/E ratio of 6.98 and a beta of 1.24. The firm has a fifty day moving average price of $14.58 and a 200-day moving average price of $14.72. Hope Bancorp has a 12-month low of $12.48 and a 12-month high of $17.68.
Hedge Funds Weigh In On Hope Bancorp
Several hedge funds and other institutional investors have recently added to or reduced their stakes in HOPE. NorthCrest Asset Manangement LLC increased its stake in shares of Hope Bancorp by 1.5% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 54,640 shares of the financial services provider's stock worth $879,000 after acquiring an additional 800 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Hope Bancorp by 0.6% in the second quarter. Price T Rowe Associates Inc. MD now owns 137,695 shares of the financial services provider's stock valued at $1,906,000 after acquiring an additional 830 shares in the last quarter. Mutual of America Capital Management LLC grew its position in shares of Hope Bancorp by 5.3% during the first quarter. Mutual of America Capital Management LLC now owns 17,292 shares of the financial services provider's stock worth $278,000 after acquiring an additional 869 shares during the last quarter. Maryland State Retirement & Pension System grew its stake in shares of 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 valued at $679,000 after purchasing an additional 958 shares during the last quarter. Finally, Captrust Financial Advisors increased its stake in shares of Hope Bancorp by 6.6% during the second quarter. Captrust Financial Advisors now owns 18,129 shares of the financial services provider's stock worth $251,000 after acquiring an additional 1,127 shares during the period. 86.82% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other news, Director William J. Lewis sold 7,500 shares of the business's stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $14.23, for a total value of $106,725.00. Following the completion of the sale, the director now directly owns 17,601 shares in the company, valued at $250,462.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.05% of the stock is currently owned by company insiders.
Hope Bancorp Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Friday, July 29th were issued a $0.14 dividend. The ex-dividend date was Thursday, July 28th. This represents a $0.56 dividend on an annualized basis and a yield of 4.43%. Hope Bancorp's payout ratio is 30.94%.
About Hope Bancorp
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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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- Get a free copy of the StockNews.com research report on Hope Bancorp (HOPE)
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